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West Plains, MO 65775-2360|MLS #60288890
515 Nebraska Ave
9 Bedrooms + 9 Baths|$799,900|4,800 Sq Ft

Income-Producing Multi-Unit Property in West Plains, MO!

Fully Income-Producing or Investment Opportunity

Annual Property Tax: $2,000

Annual Insurance: $2,000


Each unit has separate electric, water, and internet connections

This multi-family property for sale in Howell County, Missouri, is an excellent addition to any real estate portfolio. Whether you’re looking for a turnkey rental investment or an income-generating property, this one checks all the boxes!

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Property Features (Largest to Smallest Units):

One (1) unit – 850 sq. ft. | 2 Bed / 2 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck

Four (4) units – 600 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck

Two (2) units – 550 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck

One (1) unit – 450 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck


· Fully remodeled 7-unit apartment complex – turnkey and like new

· Strong income producer with estimated 9.5%cap rate

· Units include one 2-bed unit ($1,200/month), four 1-bed units ($1,000/month), and one small unit ($959/month)

· Seventh unit is an active Airbnb generating approximately $21,900/year at $80-$125/night

· Gross annual rental income: approximately $95,800

· Net Operating Income (NOI): approximately $76,000

· All units include appliances

· Owner pays utilities and property taxes

· Includes Airbnb management potential or option to convert to long-term rental

· Excellent investment opportunity with low maintenance and high demand rental units


· Priced at $799,900 – potential for upside depending on rental mix

Spacious parking lot and outdoor green space

Situated on a .48-acre lot in a quiet neighborhood

Prime Location – High Rental Demand!


Open-Concept Living at Its Best

This bright, open-concept living area features beautiful hardwood floors and clean white walls that create a welcoming atmosphere. Exposed beams and architectural columns add character, while recessed lighting provides warm ambiance. The seamless flow between spaces makes this home perfect for both daily living and entertaining guests.
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The well-designed kitchen combines style and practicality with gray shaker cabinets, granite countertops, and black appliances. The efficient L-shaped layout maximizes workspace, while wood-look flooring adds warmth to the open floor plan. A convenient laundry closet keeps utilities organized and out of sight.

Functional Kitchen Design

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Comfortable Bedrooms

The bedrooms offer peaceful retreats with hardwood flooring and bright white walls. Double-door closets provide generous storage space, and large windows with blinds allow natural light to fill each room. Clean lines and neutral finishes create versatile spaces ready for your personal touch.
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This updated bathroom combines contemporary style with everyday functionality. The gray vanity with white countertop offers clean storage, while matte black fixtures add modern appeal. The tub-shower combo includes built-in niches for convenience, and warm wood-look flooring complements the neutral color scheme.

Modern Bathroom Features

Located in West Plains, Missouri, this property is just minutes from:

Missouri State University - West Plains

Downtown West Plains

Ozarks Healthcare

Restaurants, shopping, and essential amenities

Turnkey Investment – Strong ROI Potential

New Construction – Modern Features
Information deemed reliable, but not guaranteed. Not intended to solicit sellers or buyers under written contract with another REALTOR®.