Marion Apartments
Multifamily | 7.31% CAP | 8 Units
Marketing description
Marion Apartments, located at 5208-5212 W 47th St in Sioux Falls, SD, is a prime investment opportunity featuring 8 well-maintained units (4 one-bedroom at 600 SF and 4 two-bedroom at 850 SF) with a 0.0% vacancy rate and minimal 0.3% concessions, making it a highly sought-after rental community. Sioux Falls has seen remarkable growth, with the city’s population soaring 25% from 153,888 in 2010 to 192,517 in 2020, fueled by a robust economy, low unemployment (historically below 3%), and a projected 11.36% population increase within 3 miles (2024-2029). Marion Apartments offers investors stable cash flow and strong appreciation potential in a dynamic, expanding market.
Investment highlights
High Occupancy and Demand: Marion Apartments boasts a 0.0% vacancy rate and minimal 0.3% concessions, significantly outperforming the Sioux Falls market’s 11.4% vacancy rate, ensuring consistent rental income.
Strong Market Growth: Located in Sioux Falls, which saw a 25% population increase from 153,888 in 2010 to 192,517 in 2020, driven by a robust economy, low unemployment (historically below 3%), and a projected 11.36% population growth within 3 miles (2024-2029).
Diverse Unit Mix: Features 8 units with 4 one-bedroom (600 SF) and 4 two-bedroom (850 SF) layouts, catering to a wide range of tenants and enhancing rental stability.
Strategic Location: Positioned in a vibrant area with 13,494 residents within 1 mile, a Walk Score® of 55, and high-traffic access (up to 23,798 vehicles daily), supporting tenant retention and property visibility.
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