Investor Opportunity – 6-Unit Apartment Building | 10% Cap Rate
Turnkey multifamily investment offering a 10% cap rate in Millstadt, IL, just 15 minutes from St. Louis County. This 6-unit apartment building is 90% occupied (5 of 6 units leased), providing strong in-place income with upside through lease-up of the remaining unit.
Each unit offers 2 spacious bedrooms, 1 full bath, living room, and kitchen with appliances, plus a laundry closet with washer/dryer hookups. The property includes a rear asphalt parking lot for tenant convenience.
Financials available to serious Pre-Approved Buyers Only!
Recent major capital improvements minimize near-term expenses, including a new roof and 6" gutters installed in 2025 and all windows replaced. Located in a quiet country setting while remaining close to employment centers, retail, and services in the St. Louis metro area, supporting stable tenant demand.
An ideal acquisition for investors seeking strong cash flow, solid fundamentals, and minimal deferred maintenance.
Active under contract
Listing Provided by: Southern Illinois Realty, LLC
$520,000
855 M And O Station Rd, Millstadt, IL 62260
12beds
6baths
3,600sqft
Est.:
Multi Family, Apartment
Built in 1985
-- sqft lot
$-- Zestimate®
$144/sqft
$-- HOA
What's special
Kitchen with appliancesAll windows replacedQuiet country setting
- 24 days |
- 569 |
- 18 |
Zillow last checked: 8 hours ago
Listing updated: February 10, 2026 at 04:15pm
Listing Provided by:
Doug L Payne 618-792-8088,
Southern Illinois Realty, LLC,
Judy E Ross 618-789-4379,
Southern Illinois Realty, LLC
Source: MARIS,MLS#: 26006463
Originating MLS: Southwestern Illinois Board of REALTORS
Originating MLS: Southwestern Illinois Board of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 6
Heating
- Natural Gas
Cooling
- Ceiling Fan(s), Central Air
Appliances
- Included: Range Hood, Electric Range, Refrigerator, Electric Water Heater
- Laundry: In Unit
Features
- Flooring: Carpet, Luxury Vinyl
- Basement: Finished
- Has fireplace: No
Interior area
- Total structure area: 3,600
- Total interior livable area: 3,600 sqft
- Finished area above ground: 3,600
- Finished area below ground: 1,800
Video & virtual tour
Property
Parking
- Total spaces: 6
- Parking features: Asphalt
Features
- Levels: Three Or More
Lot
- Size: 0.28 Acres
Details
- Parcel number: 1209.0305002
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Apartment Style
- Property subtype: Multi Family, Apartment
Materials
- Vinyl Siding
- Roof: Architectural Shingle
Condition
- Updated/Remodeled
- New construction: No
- Year built: 1985
Utilities & green energy
- Water: Public
- Utilities for property: Cable Available
Community & HOA
Community
- Subdivision: O Station Sub
HOA
- Has HOA: No
Location
- Region: Millstadt
Financial & listing details
- Price per square foot: $144/sqft
- Tax assessed value: $103,993
- Annual tax amount: $8,310
- Date on market: 2/5/2026
- Cumulative days on market: 25 days
- Listing terms: Cash,Contract,Conventional
- Ownership: Private
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 2/11/2026 | Contingent | $520,000$144/sqft |
Source:  MARIS #26006463 Report a problem | ||
| 2/5/2026 | Listed for sale | $520,000+52.9%$144/sqft |
Source: MARIS #26006463 Report a problem | ||
| 2/1/2023 | Sold | $340,000+25.9%$94/sqft |
Source: Public Record Report a problem | ||
| 11/23/2010 | Sold | $270,000$75/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2023 | $7,905 +5% | $103,993 +9.8% |
| 2022 | $7,527 +3.8% | $94,737 +8.1% |
| 2021 | $7,252 -0.1% | $87,598 +0.7% |
| 2020 | $7,258 +3.2% | $87,008 +4.3% |
| 2019 | $7,031 +3.7% | $83,445 +3.7% |
| 2018 | $6,780 +99.2% | $80,436 +1.4% |
| 2017 | $3,404 | $79,346 -17.8% |
| 2016 | $3,404 -56.3% | $96,511 +4.1% |
| 2014 | $7,795 +9.6% | $92,719 +4.9% |
| 2013 | $7,111 | $88,405 -4.7% |
| 2012 | -- | $92,746 -0.4% |
| 2011 | -- | $93,090 -3.6% |
| 2010 | -- | $96,561 -21.4% |
| 2009 | -- | $122,890 |
| 2008 | -- | $122,890 +11.4% |
| 2006 | -- | $110,322 +6.2% |
| 2005 | $7,701 +8.2% | $103,910 +7.8% |
| 2004 | $7,118 | $96,365 +2.8% |
| 2003 | -- | $93,750 +5.1% |
| 2002 | -- | $89,166 +5.8% |
| 2001 | -- | $84,302 +7.6% |
| 2000 | -- | $78,333 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$3,280/mo
Principal & interest
$2448
Property taxes
$832
Climate risks
Neighborhood: 62260
Nearby schools
GreatSchools rating
- 8/10Millstadt Consolidated SchoolGrades: 3-8Distance: 0.6 mi
- 4/10Belleville High School-WestGrades: 9-12Distance: 5.4 mi
- NAMillstadt Primary CenterGrades: PK-2Distance: 0.8 mi
Schools provided by the listing agent
- Elementary: Belleville Dist 118
- Middle: Belleville Dist 118
- High: Belleville High School-West
Source: MARIS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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