Listed by NAI Sioux Falls
$4,200,000
Fox Run Apartments
Details
Property Type Multifamily
Sub Type Apartment Building, Low-Rise/Garden
Square Footage 24,792
Units 24
Cap Rate 4.01%
NOI $168,220
Occupancy 100%
Pro-Forma Cap Rate 6.61%
Year Built 2006
Acreage 1.500
Multifamily | 24 Units | $175,000/unit
Marketing description
Located on W. 30th Street, just off Highway 81 and minutes from Fox Run Golf Course. Nearby businesses include Walmart, Tractor Supply Co., Culver’s, and McDonald’s, making this a convenient and desirable location for residents.
Investment highlights
- Unit Mix: 6: 3 Bed, 2 Bath / 12: 2 Bed, 1 Bath / 6: 2 Bed, 1 Bath + Den
- Building Size: 24,792 SF
- Total Lot Size: 1.5 Acres
- Property is equipped with a fire suppression system
- Tenants pay electric only; landlord covers all other utilities
- Washer/dryer hookups available in each unit (units not currently equipped)
- Common area amenities include a washer/dryer and fitness room
- Secured building entrance
- 15 detached garages
- Potential future development with the ability to add 7–9 additional units
- Year Built: 2006
- One or more owners hold an active real estate license
- Assumable debt at 4.40% for 6 remaining years on 30-year amortization -$1,635,000
Listing Contacts
Listed by NAI Sioux Falls
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$168,220.00
$14,018.33/mo
Valuation Metrics
0
DSCR
4.01%
Cap Rate
4.01%
ROI
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