865 South Douglas Avenue, Springfield, MO 65806 (MLS# 60225641)

865 South Douglas Avenue, Springfield, MO 65806

$2,400,000

Property Type: MultiFamily Lot Size (sq. ft.): 30,492 Status: Closed

Current Price: $2,400,000 List Date: 9/26/2022 Last Modified: 4/20/2023

Overview

Description

Located Near Downtown Springfield and Missouri State University. Excellent opportunity for apartment expansion on adjoining lot, which can be purchased separately for $75,000. Both properties zoned Residential-Medium Density (RMD) Convenient to Walmart Market, restaurants, retail shops, movie theatre, convenience store & park Recent substantial capital Improvements Proven value-add, with upside for rents Highly desirable unit mix. Showing after accepted Contract, which may include a Buyer Contingency terminating Contract, should initial walk-thru, on or before 5-days from the effective date, be unacceptable to Buyer.. Monthly rent shown is market rate. Vacant lot RE Taxes equal additional $264.85. Revenue shown at market rate.

Listing Details MLS# 60225641

Contract Information

Property Sub-Type: Apartment Building
Begin Date: 2022-08-14
Transaction Type: Sale
List Price/SqFt: 2600000
Historical District: No
Foreclosure/Short Sale: No
Agreement Type: Exclusive Right To Sell
Sign on Property: Yes

Location Tax and Other Information

Street #: 865
Street Direction: South
Street Name/Route: Douglas
Suffix: Avenue
County: Greene
State/Province: MO
Zip Code: 65806
Subdivision: Ferguson
Parcel ID: 881323413008
Cross Street: E. Grand
Real Estate Tax: 9074.76
Tax Year: 2021
Legal Description: APT: BEG 502 FT S SW COR MADISON & DOUGLAS STS W 265 FT S 214.6 F T E 265 FT N TO BEG VACANT LAND: FERGUSON E N TRUSTEE ADD S 50 FT LOT 25 & BEG 50 FT N SE COR LOT 25 N 48 FT W265 FT S 251 FT NWLY TO SW COR LOT 26 N 50 FT E 45 FT NELY 70 FT E 52 FT N TOBEG 23/29/22
Zoning: Residential MD

General Property Description

SqFt-Aprx: 31486
SqFt Finsh'd & Unfnsh'd: 5000 or more
Aprx Year Built: 1978
Total Monthly Rent: 296220
Number of Units: 36
# One Bedroom Units: 6
# Two Bedroom Units: 30
Total Room Count Above Grade: 24
Total Room Count Below Grade: 12
Aprx Lot Size (Acres): 0.7
Lot Dimensions: Acres
Elementary School: SGF-McGregor
Middle School: SGF-Study
High School: SGF-Central
Waterfront/View: None
Lake/River: None
# Efficiency Units: 0
# Three Bedroom Units: 0
View: Yes

Remarks Misc

Directions: E Grant then South on S. Douglas. Properties on west side of Douglas

Status Change Info

Under Contract Date: 2022-11-14
Sold Date: 2023-04-17
Price Disclosed: Yes

One Bed Units

One Bed $: Over $350

More Information

Two Bed Units

Two Bed $: Over $450

Location, Tax and Other Information

Building #: Yes
Inside City Limits: Yes
RE Tax Provided By: Assessor Records

Views

City: Yes

Unit Features

All Units: Yes
Carpet: Yes

Amenities

Central Laundry: Yes

Construction

Vinyl Siding: Yes

Utilities

City: Yes
Electricity: Yes
Gas: Yes
Master Meter: Yes
Separate Meters: Yes
Sewer: Yes
Tenant Pays: Yes
Tenant Pays Part: Yes
Trash: Yes
Water: Yes

Cooling

Central: Yes

Appliances

Refrigerator: Yes

Heating

Central: Yes
Forced Air: Yes

Miscellaneous

Fire Alarm: Yes
Smoke Detector: Yes

Parking

Paved Area: Yes

Roofing Material

Composition: Yes

Possession

At Closing: Yes

Will Sell

1031 Exchange: Yes
Cash: Yes
Conventional: Yes
Owner Carry First: Yes

Buildings

One Building: Yes

Water

City Water: Yes

Sewer

City Sewer: Yes

Documents Available

Disclosure: Yes

Type of Tenancy

Lease: Yes

Yearly Net Oper Inc

Over $25,000: Yes

Deposits

Deposit Required: Yes

Property Features

Unit Features: All Units; Carpet Amenities: Central Laundry Appliances: Refrigerator Cooling: Central Heating: Central; Forced Air Buildings: One Building Construction: Vinyl Siding Roofing Material: Composition Parking: Paved Area Miscellaneous: Fire Alarm; Smoke Detector Water: City Water Sewer: City Sewer Utilities: Electricity; Gas; Master Meter; Separate Meters; Sewer; Tenant Pays; Tenant Pays Part; Trash; Water Documents Available: Disclosure Type of Tenancy: Lease Yearly Net Oper Inc: Over $25,000 Possession: At Closing Will Sell: 1031 Exchange; Cash; Conventional; Owner Carry First Deposits: Deposit Required

Listing Office: Reece Commercial

Last Updated: April - 20 - 2023

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