1020 Washington St - Apartments FOR SALE


Doniphan, MO 63935
$1,650,000 USD
781-248-0543
1020 Washington St, Doniphan, MO for Sale
$1,650,000 USD
Apartments - FOR SALE
1/9
null | 6.62% Cap Rate

1020 Washington St
Doniphan, MO 63935


HIGHLIGHTS

  • Smith's Apartments in Doniphan, MO | Largest City in Ripley County.
  • 100% Project Based Section 8 Subsidy Contract | Renewed Under Option 4 for 20 Years in 2008.
  • Located in Quality Census Tract (QCT) | 30% Eligible Basis Boost for Federal LIHTC.
  • Increased Housing Demand | From 2010-2024 Population in Five Mile Radius Grew by 18.1%.
  • Desirable Unit Mix | 50% of Units are 2 Bedrooms.

OVERVIEW

SAB Capital is pleased to present Smith's Apartments, a family-designated apartment community located in Doniphan Missouri. The community consists of 24 units, with 100% of the units covered by Project-Based Section 8 subsidy contracts renewed under Option 4. Constructed in 1982, Doniphan Manor Apartments is a garden-style community situated on approximately 3 acres. The property features a mix of one-, two-, and three-bedroom units with standard in-unit amenities such as kitchens with ranges and refrigerators, carpeting and vinyl flooring, and cable readiness. Historically supported by a long-term Section 8 HAP contract, the property has demonstrated strong occupancy and stable operations. It lies at the junction of US Route 160 and Missouri Route 142, with the Current River flowing nearby, making it an accessible and scenic small town.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$89 USD /SF

# OF UNITS

24

PRICE/UNIT

$68,750

CAP RATE

6.62%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Smith's Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

1

LAND DETAILS

LAND ACRES

2.2 AC

LAND SF

95,832 SF

ZONING

-

APN/PARCEL ID

13-7.0-26-001-034-001.000

ASK ABOUT THIS PROPERTY

John SneeSAB CapitalMore Info
781-248-0543

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John SneeSAB CapitalMore Info
781-248-0543

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.