290 Chestnut Street
Property Description
Three income-producing spaces, one landmark downtown location!! 290 Chestnut Street gives an investor a setup that would be difficult to recreate from scratch. Positioned on a prominent corner of the Osceola square, the property combines an established commercial space on the main level with two beautifully renovated loft apartments upstairs. La Casita Mexican Restaurant currently occupies the ground floor, while the upper level operates as The Chestnut on the Square, featuring one two-bedroom loft and one one-bedroom loft.Both apartments are being sold fully furnished and have established themselves as successful short-term rentals. The renovation upstairs was done right. Tall ceilings, large windows, open living spaces and clean modern finishes give both units a look and feel that stands well above the typical lodging option in the area. Guests can stay directly on the square while being just minutes fromTrumanLake and the confluence of the Sac and Osage river arms - an area well known for year-round fishing and especially popular during the spring spoonbill season. Hunting, boating and other outdoor recreation continue to bring visitors into the area throughout the year. From an investment standpoint, the appeal is straightforward: commercial rental income on the main floor, two furnished short-term rental units above it and an established operating history already in place. There is also a basement providing additional space below the main level.For someone looking to own an income-producing property in the Truman Lake market, this is a rare opportunity to acquire a downtown building where much of the difficult work has already been done. The business space is occupied, the lofts are finished and furnished, and the property is already generating revenue from multiple parts of the building. Detailed financial information and operating history will be made available to qualified buyers upon execution of a confidentiality agreement.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $350,000 |
| No. of Units: | 3 |
| Opportunity Zone: | No |
| Price per unit: | $116,667 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-HMLSKS-2640795
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Final Deal Analysis
Similar Properties in the Area
999-997 Nottingham Street
Grosse Pointe Park, MichiganBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout