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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.

Highlights

  • Residential Income
  • Multi Family
  • Built in 1983
  • 0.413 Acre Lot
  • 113 days on Market

  • Year Built
    1983
  • Architectural Style
    Apartment Style
  • Construction Materials
    Brick
  • Living Area
    9630.0
  • Cooling
    Wall Unit(s)
  • Heating
    Baseboard

  • Acres
    0.413

  • Area
    458 - Troy R-3
  • County
    Lincoln
  • City
    Troy
  • Neighborhood
    Browns Add
  • Zip Code
    63379
  • High School
    Troy Buchanan High
  • Middle School
    Troy Middle
  • Elementary School
    Main Street Elem.

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Frequently Asked Questions

How do I schedule a tour of 560 E Cherry St?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 560 E Cherry St.

They know residential incomes in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 560 E Cherry St?

Click Ask a Question to talk with our team. You already know it is a N/A bed, N/A bath, listed for $1,150,000. We can talk through recent upgrades, potential seller motivation, how this multi family compares to others in Troy, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 560 E Cherry St?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 560 E Cherry St at around $6,950. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 560 E Cherry St?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Lincoln County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 560 E Cherry St?

In most cases, yes. Whether 560 E Cherry St is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Troy's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 560 E Cherry St?

We can handle that for you. Our preferred local agent specializes in residential incomes in Troy and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $1,150,000 with 9,630 sqft of space—that comes out to approximately $119 per square foot.

How long has this property been on the market?

560 E Cherry St was listed on July 20, 2026, which means it's been on the market for 113 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1983, making it approximately 43 years old.

What is the lot size of this property?

560 E Cherry St sits on a 0.41-acre lot, which is 17,860 square feet.

What schools are assigned to this property?

Based on MLS info, this home is zoned for:

  • Elementary: Main Street Elem.
  • Middle: Troy Middle
  • High: Troy Buchanan High

Want to see how these schools compare? Check out our Lincoln County School Guide to see ratings, reviews, and more for the schools in the area.

What are the property taxes for 560 E Cherry St?

The most recent public record shows annual property taxes for 560 E Cherry St were approximately $4,866. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.

Is 560 E Cherry St still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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Based on information submitted to the MLS GRID as of November 10, 2026 at 12:21PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Source: MARIS MLS | MLS#: 26046395