Description
Excellent opportunity to acquire a high-occupancy 12-unit apartment complex with 12 additional on-site storage units in the rapidly growing Troy, Missouri market. Offered at $1,150,000, this stabilized investment features a mix of one-bedroom and two-bedroom apartments along with twelve storage units, providing diversified income and long-term upside. Current gross rental income is $10,355 per month with market rent potential estimated at approximately $10,900 per month. Annual NOI is approximately $81,595, reflecting a 7.1% cap rate at the asking price. Most apartment units have already been renovated, minimizing immediate capital expenditures while leaving additional value-add potential through future rent increases and storage income optimization. Investment Highlights: 12 Apartment Units 12 On-Site Storage Units High Occupancy Mix of 1-Bedroom & 2-Bedroom Units Most Units Renovated Current Gross Monthly Rent: $10,355 Estimated Market Rent: $10,900+/Month Annual NOI: Approximately $81,595 7.1% Cap Rate at Asking Price Strong Workforce Housing Demand Limited Competing Apartment Inventory Located in One of Lincoln County's Fastest-Growing Markets Current rent roll, T-12 financials, and additional income/expense information are available upon request. Property is being offered subject to interior inspection. To minimize disruption to tenants, interior showings will be scheduled following an accepted contract.
Details
| MLS # | 26046395 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1983 |
| Days On Site | 69 |
| Listing Provided By | Magnolia Real Estate | Andrew Burtt |
Features
| SQ Feet | 9,630 |
|---|---|
| Units | 12 |
| Acreage | 0.41 |
Interior
| Cooling | Wall Unit(s) |
|---|---|
| Heating | Baseboard |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Property | 4866 |
|---|
Area Information
| State | MO |
|---|---|
| County | Lincoln |
| City | Troy |
| Zip Code | 63379 |
| Area | Troy R 3 |
| Community Name | Browns Add |
| School District | Troy Buchanan High |
| Elementary School | Main Street Elem. |
| High School | Troy Buchanan High |
| Listing VS Median (in Browns Add) | |
Price: $1,150,000 low | high Med: $1,150,000 sqft: 9,630 low | high Med: 9,630 $ / sqft: $119 low | high Med: $119 On site: 69 low | high Med: 69 | |
Market Activity 63379
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Listings courtesy of Maris MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of September 28, 2026 at 12:43:12 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
Contact
Learn More About This Property
| State | MO |
|---|---|
| County | Lincoln |
| City | Troy |
| Zip Code | 63379 |
| Area | Troy R 3 |
| Community Name | Browns Add |
| School District | Troy Buchanan High |
| Elementary School | Main Street Elem. |
| High School | Troy Buchanan High |
| Listing VS Median (in Browns Add) | |
Price: $1,150,000 low | high Med: $1,150,000 sqft: 9,630 low | high Med: 9,630 $ / sqft: $119 low | high Med: $119 On site: 69 low | high Med: 69 | |
Listings courtesy of Maris MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
