NEW APARTMENT COMPLEX FOR SALE
735 South Ave
Springfield, MO 65806
Highlights
- SALE PRICE: $2,100,000
- UNITS: 12
- SIZE: 9,684 SF
- LOT: 0.45 ac
- CAP RATE: 5.75%* (pro-forma)
- PARKING: Lot Onsite
- BUILT: 2023
Description
Beautiful brand new construction apartment building for sale near Missouri State University and Downtown Springfield. The construction was just completed in November 2023 for this 12-unit apartment building. Each apartment is 2 bedroom, 2 bath with an approximately 807 square feet open floor plan. These units have stainless steel appliances, granite counter tops, LVT flooring, w/d hookups, and on-site parking. Lease-up rent rates beginning at $1,295/month. Tenants pay utilities.
*Operating data based on market data and projections
This new apartment building is located near downtown Springfield and within 1/2 mile from Missouri State University with over 24,000 students at the Springfield campus for fall of 2023. Located right between the dining and entertainment options in the heart of Downtown, the convenience of Walmart Neighborhood Market and MSU, all within less than 1/2 mile make this an ideal location for students and anybody looking for downtown living.
Lee McLean, SIOR, CCIM is a Senior Advisor for SVN Commercial in the Springfield Missouri metro area. Lee holds the SIOR & CCIM designation, a Brokers-Associate real estate license and ranks in the top 3% of SVN International
