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… Read More 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. Read Less
Listing Snapshot
Days Online
1
Property Type
Other
Lot Size
2.73 Acres
Year Built
1960
MLS Number
2634026
Additional Details
Appliances & Equipment
Description: Microwave, Refrigerator, Electric Range
Building
Construction Materials: Frame, Year Built: 1960
Cooling
Details: Other
Exterior Features
Patio Features: Porch
Heating
Heating: Other
Home Owner's Association
Fee: 0, Dues Frequency: None
Laundry
Description: Inside
Lot
Size: 2.73
Parking
Parking Total: 30
Property
Zoning: Res
Roof
Description: Composition
Sewer
Sewer: Public Sewer
Utilities
Water Source: Public, Utilities: Ind Heat And Air, Separate Meters
Listing courtesy of Platinum Realty LLC 888-220-0988
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The information displayed on this page is confidential, proprietary, and copyrighted information of Heartland Multiple Listing Service, Inc. (“Heartland MLS”). Copyright , Heartland Multiple Listing Service, Inc. Heartland MLS and Legendary Apartment Brokers do not make any warranty or representation concerning the timeliness or accuracy of the information displayed herein. In consideration for the receipt of the information on this page, the recipient agrees to use the information solely for the private noncommercial purpose of identifying a property in which the recipient has a good faith interest in acquiring. Listings last updated on ,
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