818 Wix Lane, Butler, MO 64730
- $2,650,000
- List Price
- $2,650,000
- MLS#
- 2639326
- Status
- ACTIVE
- Type
- Multifamily
- Lot Size
- 15,000
- Acres
- 0.34
- Subdivision
- Butler
Property Description
Excellent opportunity to acquire a stabilized 24-unit multifamily portfolio in Butler, Missouri, consisting of 10 duplex buildings, one triplex and one single-family residence. Twenty of the units are located together on Wix Lane, with the remaining four units located just one street over on High Street, creating a highly concentrated portfolio that is convenient to operate and manage. Offered at $2.65 million, the portfolio generated approximately $211,577 of 2025 NOI, providing an attractive 8 percent cap rate. Current scheduled rents total approximately $260,220 annually and have already increased materially since the 2025 appraisal which came in at $2,736,000, while continued strong tenant demand and a waitlist provide additional opportunity to increase below-market rents as leases renew and units turn over. The portfolio has benefited from substantial recent capital investment, including new siding and gutters on all buildings, extensive interior renovations, approximately 13 new HVAC systems, new water heaters in most units, and complete stud-level renovations of several properties. Four units remain below the same renovation level, providing additional value-add potential. The properties are conveniently located near Butler Municipal Park, the Butler Aquatic Center, Bates County Memorial Hospital, and other local medical services. Financial statements, current rent roll, appraisal, capital-improvement information and additional due-diligence materials are available. Property can be purchased as 36-unit package by combining with 6 duplexes listed under MLS#2634026.
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Additional Information
- Year Built
- 1973
- School District
- Butler
- Elementary School
- Butler
- Middle School
- Butler
- High School
- Butler
- Exterior Features
- Private Entrance
- Roof
- Composition
- Central Air
- Electric
- Sewer
- Public Sewer
- Construction
- Frame
- Water
- Public
- Cooling
- Electric
- Heating
- Natural Gas
- Taxes
- $9,750
- Zoning
- RES
Mortgage Calculator
Listing courtesy of Justin Beebe of Platinum Realty LLC.
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