515 Nebraska Avenue, West Plains, MO 65775

• 9 baths |
• 4,800 sqft

Property Description

For Sale - Income-Producing Multi-Unit Property in West Plains, MO!Prime Investment Opportunity in Howell CountyDiscover 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 DeckFive (5) units - 600 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private DeckOne (1) unit - 450 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private DeckSpacious parking lot and outdoor green spaceSituated on a .48-acre lot in a quiet neighborhoodPrime Location - High Rental Demand!Property Highlights:Fully remodeled 7-unit apartment complex - turnkey and like newStrong income producer with an estimated 9.5% cap rateUnits 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/nightGross annual rental income: approximately $95,800Net Operating Income (NOI): approximately $76,000All units include appliancesOwner pays utilities and property taxesIncludes Airbnb management potential or option to convert to long-term rentalExcellent investment opportunity with low maintenance and high-demand rental unitsPriced at $799,900 - potential for upside depending on rental mixLocated in West Plains, Missouri, this property is just minutes from:Missouri State University - West PlainsDowntown West PlainsOzarks HealthcareRestaurants, shopping, and essential amenitiesTurnkey Investment - Strong ROI PotentialNew Construction - Modern Features

Listing Status:

Active

Data Last Updated:

April 5, 2026 at 7:24PM

Listing Office:

United Country Missouri Ozarks Realty Inc. : (417) 256-1000

Listing Agent:

Kimberly Grennan : (417) 293-7277

MLS ID:

60288890

Interior

• A/C: ElectricCentral Air
• Heating: Electric

Exterior

• General: Handicap AccessibleWater Heater-ElectricSmoke DetectorsBasement
• Parking: Paved20+ Spaces

Construction

• Roofing: Composition

Location

• Originating MLS: somo
• County: Howell

Lot

• Zoning: Multi-family15402000040100201000
• View: City

Utilities

• Utilities: Sewer AvailableHigh Speed InternetElectricity AvailableWater Available

Financial

• Source: somo