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Listed by Justin Beebe • Platinum Realty LLC
$1,350,000
Est. payment /mo
2.73 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2634026
Year Built 1960
Annual Tax Amount $14,823
Lot Size 2.730 Acres
Acres 2.73
Property Sub-Type Other
Source hmls
Property Description
Rare opportunity to acquire a fully renovated, stabilized multifamily property consisting of six duplex buildings and 12 two-bedroom units at 300–311 Oak Street in Freeman, Missouri. Situated on approximately 2.74 acres, the property offers a cohesive, low-density rental community with substantial open green space and ample off-street parking.
The property underwent a comprehensive renovation in 2023 and 2024, significantly reducing near-term capital needs. Improvements included roofs and gutters, windows, HVAC systems, electrical panels, flooring, cabinetry, appliances, lighting and plumbing fixtures, interior doors, and interior and exterior paint. Additional work included attic and exterior-wall insulation, renovated bathrooms with tile surrounds and reglazed tubs, sump pumps and waterproof barriers in crawlspaces, water heater replacements as needed, and improvements to the gravel parking area.
The portfolio generates more than $150,000 in annual scheduled rent, with monthly rents ranging from approximately $995 to $1,100 per unit. The property is approximately 95% occupied, and tenants pay their own utilities. Lease expirations are staggered through 2026 and 2027, providing predictable near-term income and limiting rollover concentration.
Each single-story unit includes two bedrooms, one bathroom, a living area, eat-in kitchen, individual HVAC and water heating, washer and dryer hookups, and direct exterior access. The property provides approximately two parking spaces per unit, with additional parking available.
A 2025 appraisal concluded a value of $1.45 million and estimated market rent of approximately $1,100 per unit, indicating potential rental growth as existing leases mature. This offering provides an opportunity to acquire a renovated, income-producing multifamily asset with strong occupancy, tenant-paid utilities, limited immediate capital requirements, and continued revenue upside.
The property underwent a comprehensive renovation in 2023 and 2024, significantly reducing near-term capital needs. Improvements included roofs and gutters, windows, HVAC systems, electrical panels, flooring, cabinetry, appliances, lighting and plumbing fixtures, interior doors, and interior and exterior paint. Additional work included attic and exterior-wall insulation, renovated bathrooms with tile surrounds and reglazed tubs, sump pumps and waterproof barriers in crawlspaces, water heater replacements as needed, and improvements to the gravel parking area.
The portfolio generates more than $150,000 in annual scheduled rent, with monthly rents ranging from approximately $995 to $1,100 per unit. The property is approximately 95% occupied, and tenants pay their own utilities. Lease expirations are staggered through 2026 and 2027, providing predictable near-term income and limiting rollover concentration.
Each single-story unit includes two bedrooms, one bathroom, a living area, eat-in kitchen, individual HVAC and water heating, washer and dryer hookups, and direct exterior access. The property provides approximately two parking spaces per unit, with additional parking available.
A 2025 appraisal concluded a value of $1.45 million and estimated market rent of approximately $1,100 per unit, indicating potential rental growth as existing leases mature. This offering provides an opportunity to acquire a renovated, income-producing multifamily asset with strong occupancy, tenant-paid utilities, limited immediate capital requirements, and continued revenue upside.
Location
State MO
County Cass
Zoning Res
Interior
Heating Other
Cooling Other
Fireplace N
Appliance Microwave, Refrigerator, Electric Range
Laundry Inside
Exterior
Parking Features false
Utilities Available Ind Heat And Air, Separate Meters
Roof Type Composition
Building
Story 1
Sewer Public Sewer
Water Public
Structure Type Frame
Schools
Elementary Schools Midway
Middle Schools Midway
High Schools Midway
School District Mid Buchanan
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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