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$ 565,000
Est. payment | /mo
4,590 SqFt
$ 565,000
Est. payment | /mo
4,590 SqFt
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,590 sqft
Price per Sqft $123
Subdivision Gales Addn
MLS Listing ID 22507797
Year Built 1916
Property Sub-Type Other
Property Description
Fully occupied and extensively renovated 9-unit apartment building in the core of Sioux Falls. One block south of Sunshine Foods and steps from downtown, this property offers a prime location surrounded by major employment, shopping, and city amenities.
The two-story building features nine one-bedroom, one-bath units, each modernized inside and out. Comprehensive updates cover both cosmetic and major capital items, positioning the asset for low-maintenance ownership and long-term stability.
Landlord covers water, sewer, trash, and heat (with RUBS in place for utility bill-backs), while tenants pay electric. The site provides front and rear access, on-site and off-street parking, and shared laundry for additional income potential.
With strong occupancy and durable finishes, the property is already performing well but still offers significant upside through gradual rent adjustments as renewals come due. The size and location also make it a compelling candidate for mid-term or furnished housing strategies targeting healthcare or downtown professionals.
A clean, updated, and well-located multifamily asset with stable income today and meaningful upside ahead — the ideal balance of turnkey condition and future growth potential.
The two-story building features nine one-bedroom, one-bath units, each modernized inside and out. Comprehensive updates cover both cosmetic and major capital items, positioning the asset for low-maintenance ownership and long-term stability.
Landlord covers water, sewer, trash, and heat (with RUBS in place for utility bill-backs), while tenants pay electric. The site provides front and rear access, on-site and off-street parking, and shared laundry for additional income potential.
With strong occupancy and durable finishes, the property is already performing well but still offers significant upside through gradual rent adjustments as renewals come due. The size and location also make it a compelling candidate for mid-term or furnished housing strategies targeting healthcare or downtown professionals.
A clean, updated, and well-located multifamily asset with stable income today and meaningful upside ahead — the ideal balance of turnkey condition and future growth potential.
Location
State SD
County Minnehaha
Area Sfc006
Rooms
Basement Partial
Interior
Heating Natural Gas
Flooring Carpet, Laminate
Exterior
Exterior Feature Hard Board
Roof Type Tar and Gravel
Building
Foundation Block
Sewer City Sewer
Water City Water
Schools
Elementary Schools Susan B Anthony Es
Middle Schools Patrick Henry Ms
High Schools Lincoln Hs
School District Sioux Falls
Others
Miscellaneous Separate Meters,Community Water Heater
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LIsted by 605 Real Estate LLC • Blake Bohner
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