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$ 2,080,000
Est. payment | /mo
6,560 SqFt
$ 2,080,000
Est. payment | /mo
6,560 SqFt
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,560 sqft
Price per Sqft $317
Subdivision Other - Outside Jurisdiction
MLS Listing ID 22603644
Year Built 1979
Lot Size 0.720 Acres
Property Sub-Type Other
Property Description
Crawford Rising Apartments offers a rare combination of immediate income and long-term upside in a market that rarely disappoints. This stabilized 24-unit multifamily property in Vermillion, South Dakota is 100% occupied, nearly fully renovated, and supported by consistent demand from the University of South Dakota and the broader surrounding region.
The offering is priced at $2,080,000 and features a 7.00% cap rate, current NOI of $145,553, and pro forma NOI of $162,370. The property includes two buildings on 0.72 acres with a unit mix of 22 two-bedroom/one-bath and 2 one-bedroom/one-bath residences.? With limited capital needs and rents currently below market, this asset presents a clear value-add opportunity for investors who want dependable performance and room to grow from day one.
The offering is priced at $2,080,000 and features a 7.00% cap rate, current NOI of $145,553, and pro forma NOI of $162,370. The property includes two buildings on 0.72 acres with a unit mix of 22 two-bedroom/one-bath and 2 one-bedroom/one-bath residences.? With limited capital needs and rents currently below market, this asset presents a clear value-add opportunity for investors who want dependable performance and room to grow from day one.
Location
State SD
County Other (out Of Jurisdiction)
Area Other
Building
Foundation Poured
Sewer City Sewer
Water City Water
Schools
Elementary Schools Vermillion Elem School - Vermillion 13-1
Middle Schools Vermillion Ms
High Schools Vermillion Hs
School District Vermillion
Others
Miscellaneous Separate Meters
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LIsted by Gateway Real Estate Advisors • Daniel Stillson
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