Sherman Apartments
Multifamily | 6.18% CAP | 16 Units
Marketing description
Sherman Apartments, a 16-unit, Class B complex at 800-812 S Sherman Ave, Sioux Falls, SD 57104, offers investors a high-performing asset in a thriving market. Built in 1993, it features 8 one-bedroom (612 SF) and 8 two-bedroom (812 SF) units with a 0.0% vacancy rate, outperforming the market’s 11.4%. Modern amenities like air conditioning, hardwood floors, and on-site management ensure tenant retention. Located in an Opportunity Zone, the property benefits from tax incentives and strong demographics, with 8.42% projected population growth (1-mile radius, 2024-2029). This turnkey property is ideal for investors seeking stable income and long-term growth.
Investment highlights
Zero Vacancy: 16-unit, Class B complex with a 0.0% vacancy rate, surpassing the market’s 11.4% vacancy, ensuring consistent tenant demand.
Modern Amenities: Equipped with air conditioning, hardwood floors, walk-in closets, and on-site management, promoting high tenant retention.
Opportunity Zone Advantage: Situated in an Opportunity Zone, providing potential tax benefits for investors.
Robust Market Growth: Located in the Sioux Falls submarket with 8.42% projected population growth (1-mile radius, 2024-2029), supporting long-term demand.
Turnkey Investment: Built in 1993, this well-maintained property offers immediate income and growth potential for investors.
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