515 Nebraska Avenue, West Plains, MO 65775
$799,900
Property Type:
Commercial-All Types
Baths:
9
Square Footage:
4,800
Lot Size (sq. ft.):
21,780
Status:
Active
Current Price:
$799,900
List Date:
3/11/2025
Last Modified:
3/02/2026
Overview
Description
...
(Read more)
For Sale - Income-Producing Multi-Unit Property in West Plains, MO!
Prime Investment Opportunity in Howell County
Discover a brand-new multi-family investment property at 515 Nebraska Street, West Plains, MO! This former church has been fully converted into eight modern apartments, offering high-quality finishes, excellent location, and strong income potential.
Property Features (Largest to Smallest Units):
• One (1) unit - 850 sq. ft. | 2 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
• Five (5) units - 600 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
• One (1) unit - 450 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
• Spacious parking lot and outdoor green space
• Situated on a .48-acre lot in a quiet neighborhood
• Prime Location - High Rental Demand!
Property Highlights:
• Fully remodeled 7-unit apartment complex - turnkey and like new
• Strong income producer with an estimated 9.5% cap rate
• Units include one 2-bed unit ($1,200/month), four 1-bed units ($1,000/month), and one small unit ($900/month)
• Seventh unit is an active Airbnb generating approximately $21,900/year at $100/night
• Gross annual rental income: approximately $95,800
• Net Operating Income (NOI): approximately $76,000
• All units include appliances
• Owner pays utilities and property taxes
• Includes Airbnb management potential or option to convert to long-term rental
• Excellent investment opportunity with low maintenance and high-demand rental units
• Priced at $799,900 - potential for upside depending on rental mix
Located in West Plains, Missouri, this property is just minutes from:
Missouri State University - West Plains
Downtown West Plains
Ozarks Healthcare
Restaurants, shopping, and essential amenities
Turnkey Investment - Strong ROI Potential
New Construction - Modern Features
Supplements: ... (Read more) Fully Income-Producing or Investment Opportunity Annual Property Tax: $2,000 Annual Insurance: $2,000 Each unit has separate electric, water, and internet connections This multi-family property for sale in Howell County, Missouri, is an excellent addition to any real estate portfolio. Whether you're looking for a turnkey rental investment or an income-generating property, this one checks all the boxes!
Listing Details MLS# 60288890
Contract Information
- Property Sub-Type
- Other
- Construction Status
- Existing
- Begin Date
- 2025-03-11
- Transaction Type
- Sale
- List Price/SqFt
- 166.65
- Foreclosure/Short Sale
- No
- Agreement Type
- Exclusive Right To Sell
- Sign on Property
- Yes
Location Tax and Other Information
- Street #
- 515
- Street Name/Route
- Nebraska
- Suffix
- Avenue
- County
- Howell
- State/Province
- MO
- Zip Code
- 65775
- Subdivision
- Howell-Not in List
- Parcel ID
- 15402000040100201000
- Tax Year
- 2022
- Zoning
- Multi-family
- Section
- 20
- Township
- 24
General Property Description
- Baths - Total
- 9
- Total SqFt
- 4800
- SqFt - Vacant
- 4800
- Aprx Year Built
- 1972
- Number of Units
- 8
- Aprx Lot Size (Acres)
- 0.5
- Lot Dimensions
- Acres
- Waterfront/View
- None
- Lake/River
- None
- SqFt - Office Space
- 0
- SqFt - Retail Space
- 0
Remarks Misc
- Directions
- South on Business 63 - Left on 2nd to Corner of 2nd and Nebraska
Location, Tax and Other Information
- Inside City Limits
- Yes
More Information
View
- City
- Yes
Business Type
- Apartments
- Yes
- Other-See Remarks
- Yes
Cooling
- Central
- Yes
- Electric
- Yes
Curb Cuts Available
- Two
- Yes
Heating
- Electric
- Yes
Land Status
- Land Included
- Yes
Miscellaneous
- Basement
- Yes
- Handicap Accessible
- Yes
- Smoke Detectors
- Yes
- Water Heater-Electric
- Yes
Parking
- 20+ Spaces
- Yes
- Paved
- Yes
Roof
- Composition
- Yes
Utilities Available
- Electric
- Yes
- High Speed Internet Access
- Yes
- Public Sewer
- Yes
- Public Water
- Yes
Lot Description
- Level
- Yes
Docs on File
- Aerial Photo
- Yes
- Legal
- Yes
Property Features
Business Type:
Apartments; Other-See Remarks
Cooling:
Central; Electric
Curb Cuts Available:
Two
Heating:
Electric
Land Status:
Land Included
Miscellaneous:
Basement; Handicap Accessible; Smoke Detectors; Water Heater-Electric
Parking:
20+ Spaces; Paved
Roof:
Composition
Utilities Available:
Electric; High Speed Internet Access; Public Sewer; Public Water
Lot Description:
Level
Docs on File:
Aerial Photo; Legal
Documents
Listing Office:
United Country Missouri Ozarks Realty Inc.
Last Updated: March - 02 - 2026
Data relating to real estate for sale on this web page comes in part from the Internet Data Exchange (IDX) of the Southern Missouri Regional MLS, LLC, Inc. Real estate listings held by Brokerage firms other than the website owner are marked with the IDX logo and detailed information about them includes the name of the listing Brokers. The information being provided is not guaranteed and should be verified by the consumer and is for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers wish to purchase. Any representation that a web site contains all listings shall only mean that the web site contain all listing available to the public through the IDX data feed and other available properties may not be displayed on this site. © 2023 Southern Missouri Regional MLS, LLC All rights reserved.

Mapright ›