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560 E Cherry Street, 
Troy, MO 63379

$1,150,000


Bed


Bath


9,630

Sq Ft


Multi-Family

Active

Listed by

Andrew Burtt

Magnolia Real Estate

Last updated:

July 24, 2026, 07:09 PM

MLS#

26046395

Source:

MO MARIS

About This Home

560 E Cherry Street

Excellent opportunity to acquire a high-occupancy 12-unit apartment complex with 12 additional on-site storage units in the rapidly growing Troy, Missouri market. Offered at $1,150,000, this stabilized investment features a mix of one-bedroom and two-bedroom apartments along with twelve storage units, providing diversified income and long-term upside. Current gross rental income is $10,355 per month with market rent potential estimated at approximately $10,900 per month. Annual NOI is approximately $81,595, reflecting a 7.1% cap rate at the asking price. Most apartment units have already been renovated, minimizing immediate capital expenditures while leaving additional value-add potential through future rent increases and storage income optimization. Investment Highlights: • 12 Apartment Units • 12 On-Site Storage Units • High Occupancy • Mix of 1-Bedroom & 2-Bedroom Units • Most Units Renovated • Current Gross Monthly Rent: $10,355 • Estimated Market Rent: $10,900+/Month • Annual NOI: Approximately $81,595 • 7.1% Cap Rate at Asking Price • Strong Workforce Housing Demand • Limited Competing Apartment Inventory • Located in One of Lincoln County's Fastest-Growing Markets Current rent roll, T-12 financials, and additional income/expense information are available upon request. Property is being offered subject to interior inspection. To minimize disruption to tenants, interior showings will be scheduled following an accepted contract.

Home Facts

Multi-Family

Built in 1983

Price Summary

1,150,000

$119 per Sq. Ft.

MLS #:

26046395

Last Updated:

July 24, 2026, 07:09 PM

Added:

8 day(s) ago


Rooms & Interior

Interior

Living Area:

9,630 Sq. Ft.


Structure

Structure

Architectural Style:

Apartment Style

Building Area:

9,630 Sq. Ft.

Year Built:

1983


Lot

Lot Size (Sq. Ft):

17,990


Finances & Disclosures

Finances

Price:

$1,150,000

Price per Sq. Ft:

$119 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.