Description
Located at 301 Mount Vernon, this fully renovated multi-family investment opportunity offers immediate income with excellent long-term upside. The property consists of 9 apartment units, including eight 1-bedroom units and one 2-bedroom unit, with 8 of the 9 units currently leased, generating $6,850 in monthly rental income. Every unit has been extensively updated with new flooring, fresh paint, and updated appliances, providing a turnkey asset with reduced maintenance and strong tenant appeal. Situated on 2.91 acres, the property offers additional land for potential future expansion, creating an opportunity for increased income potential. Buyers should note that the front portion of the property lies within a floodplain, and any future development plans should be verified through the purchaser's own due diligence. Additional amenities include a central coin-operated laundry facility, paved parking, and a convenient location with easy access to local employers, schools, and amenities. Whether you're looking to add a stabilized asset to your portfolio or capitalize on future expansion opportunities, this well-maintained apartment complex presents a compelling investment with immediate cash flow and value-add potential.
Details
| MLS # | 60327968 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1945 |
| Days On Site | 52 |
| Listing Provided By | Keller Williams | Adam Graddy |
Features
| Units | 9 |
|---|---|
| Zoning | B-3 |
| Acreage | 2.91 |
| Property View | City |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Paved Area |
Taxes
| Property | 2912 |
|---|
Area Information
| State | MO |
|---|---|
| City | Mt Vernon |
| Zip Code | 65712 |
| Community Name | N/A |
| School District | Mt Vernon |
| Elementary School | Mt Vernon |
| High School | Mt Vernon |
| Listing VS Median (in N/A) | |
Price: $900,000 low | high Med: $325,000 On site: 52 low | high Med: 49.5 | |
Market Activity 65712
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Learn More About This Property
| State | MO |
|---|---|
| City | Mt Vernon |
| Zip Code | 65712 |
| Community Name | N/A |
| School District | Mt Vernon |
| Elementary School | Mt Vernon |
| High School | Mt Vernon |
| Listing VS Median (in N/A) | |
Price: $900,000 low | high Med: $325,000 On site: 52 low | high Med: 49.5 | |