560 E Cherry St, Troy, MO 63379
- Sqft
- 9,630
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Overview
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.
Location
Full feature list
Basic info
- Property type
- Multi-family
- Square feet
- 9,630
- Lot size (acres)
- 0.41
- Year built
- 1983
Utilities
- Heating
- Baseboard
- Cooling
- Wall Units
Taxes
- Tax Annual Amount (2025)
- $4,866
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: MARIS MLS MLS®#: 26046395 Last checked: …

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.