Springhill Falls Apartments presents a compelling opportunity to acquire a stabilized, 96-unit multifamily community located at 1325 South Lillian Avenue in Bolivar, Missouri. Offered at $9,750,000, the property is currently approximately 98% occupied and generates an actual net operating income of approximately $554,000. The property offers a diverse mix of one-, two-, and three-bedroom apartments and benefits from its proximity to Southwest Baptist University, providing an established renter base that includes students, university personnel, working professionals, and area residents. Springhill Falls has maintained consistently strong occupancy while remaining positioned for substantial near-term revenue growth. Ownership is actively implementing monthly rent increases of $150 per unit, with approximately 15 units already operating at the higher rental rates. As the remaining leases transition, the property is projected to generate a one-year pro forma NOI of approximately $708,234, creating significant embedded upside without relying on major renovations or speculative redevelopment. The offering also includes adjacent acreage that provides a potential path for future expansion. The seller has acquired the additional land, completed rezoning efforts for multifamily development, and prepared preliminary conceptual plans for approximately 30 to 40 additional apartment units, including proposed parking and street access. The preliminary plans have not been stamped or fully engineered, allowing the new owner to evaluate, modify, or pursue the expansion at their discretion. All development potential, zoning, density, utility capacity, access, and construction plans should be independently verified by the purchaser. Springhill Falls is professionally operated by an experienced on-site property manager who offices at the community five days per week. The property has been well maintained, with recent improvements including new carpet and LVP flooring in numerous units. Resident amenities and ancillary-income opportunities include four laundry facilities, on-site vending, convenient parking, and an on-site management office. This offering provides investors with immediate stabilized income, strong occupancy, professional on-site operations, a clearly defined path to increased NOI through rent growth already underway, and the potential to expand the community through future multifamily development.