Listed by NAI Sioux Falls
$2,500,000
Heritage High Apartments
Details
Property Type Multifamily
Sub Type Apartment Building, Low-Rise/Garden
Square Footage 33,870
Units 31
Cap Rate 8.00%
Broker Co-Op No
Class C
Year Built 1920
Year Renovated 2024
Acreage 0.780
Zoning Central Business
31 unit apartment complex for sale in Madison, SD
Marketing description
Located 1 block west of Madison, SD's Main Street (Egan Avenue)
Investment highlights
- Former Madison High School that was converted to multifamily
- Seven 1 bed 1 bath
- Nine 2 bed 1 bath - smaller
- Ten 2 bed 1 bath - larger
- Five 2 bed 1 bath - vaulted ceilings on level 3
- One large underground garage with 31 stalls
- Stable tenant mix with most tenants being over 55 years old
- Institutional quality solid construction
- New roof in 2023-2024
- Passenger elevator serves all levels
- Year Built: 1920
- Parking garage was renovated (Fall 2024)
- Call listing agent for more details
Listing Contacts
Listed by NAI Sioux Falls
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