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Smith's Apartments 1020 Washington St 24 Unit Apartment Building $1,728,000 ($72,000/Unit) 6.32% Cap Rate Doniphan, MO 63935
INVESTMENT HIGHLIGHTS
- Smith's Apartments in Doniphan, MO | Largest City in Ripley County.
- Located in Quality Census Tract (QCT) | 30% Eligible Basis Boost for Federal LIHTC.
- Desirable Unit Mix | 50% of Units are 2 Bedrooms.
- 100% Project Based Section 8 Subsidy Contract | Renewed Under Option 4 for 20 Years in 2008.
- Increased Housing Demand | From 2010-2024 Population in Five Mile Radius Grew by 18.1%.
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
| Price | $1,728,000 | Building Class | C |
| Price Per Unit | $72,000 | Lot Size | 2.20 AC |
| Sale Type | Investment | Building Size | 18,616 SF |
| Cap Rate | 6.32% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1982 |
| Property Subtype | Apartment | Parking Ratio | 0.05/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Price | $1,728,000 |
| Price Per Unit | $72,000 |
| Sale Type | Investment |
| Cap Rate | 6.32% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.20 AC |
| Building Size | 18,616 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1982 |
| Parking Ratio | 0.05/1,000 SF |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Dining Room
- Family Room
- Handrails
- Lawn
- Pantry
- Vinyl Flooring
- Window Coverings
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 12 | - | - |
| 3+1 | 4 | - | - |
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Smith's Apartments | 1020 Washington St
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