608 North Central Avenue,Monett, MO 65708
Monett, MO 65708
Description
Cash-flowing investment opportunity with immediate income and value-add potential! This multi-unit property offers investors the opportunity to acquire an asset with existing rental income and significant upside through the renovation of a third unit. The property consists of three separate residential units: Unit 1: A detached 580 sq. ft. one-bedroom, one-bath cottage with a screened porch, currently leased at $725/month. Unit 2: A 450 sq. ft. studio apartment, currently leased at $725/month. Unit 3: A 971 sq. ft. two-bedroom apartment with central heat and air. The unit is currently vacant and requires a complete interior renovation but offers an estimated market rent of approximately $850/month once completed. Current gross rental income is $1,450/month, with a projected gross monthly income of approximately $2,300/month after renovation and lease-up of the third unit. Existing tenants have expressed a desire to remain, providing stable occupancy and immediate cash flow for the next owner. Additional improvements include an oversized attached one-car garage, a workshop/outbuilding, and a well-maintained exterior requiring minimal immediate attention. The property's strong curb appeal and established rental history make it an attractive long-term hold or portfolio addition. Whether you're looking to increase cash flow through light redevelopment, add doors to your portfolio, or capitalize on a partially stabilized asset with upside, this property presents an excellent investment opportunity. Please do not disturb tenants. Units 1 and 2 are tenant occupied. A minimum 24-hour notice is required for all showings.
Details
| MLS # | 60327703 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 56 |
| Listing Provided By | Epique Realty | Rebekah K. Jones |
Features
| Units | 3 |
|---|---|
| Zoning | Multi-Family |
| Acreage | 0.20 |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Property | 442 |
|---|
Area Information
| State | MO |
|---|---|
| County | Barry |
| City | Monett |
| Zip Code | 65708 |
| Community Name | Barry Not in List |
| School District | Monett |
| Elementary School | Monett |
| High School | Monett |
| Listing VS Median (in Barry Not in List) | |
Price: $265,000 low | high Med: $307,000 On site: 56 low | high Med: 56 | |
Market Activity 65708
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Learn More About This Property
| State | MO |
|---|---|
| County | Barry |
| City | Monett |
| Zip Code | 65708 |
| Community Name | Barry Not in List |
| School District | Monett |
| Elementary School | Monett |
| High School | Monett |
| Listing VS Median (in Barry Not in List) | |
Price: $265,000 low | high Med: $307,000 On site: 56 low | high Med: 56 | |
