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32264158
32264124

202 N French Ave, Sioux Falls, SD 57103 For Sale

NM
SD 21571, IA S67281000 (+1)
Gateway Real Estate Advisors
DS
SD 21887, IA S73739000 (+1)
Gateway Real Estate Advisors
Listed by Gateway Real Estate Advisors
$299,900
179 days on market
Updated 21 days ago
Opportunity zone

202-204 N French Ave

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 1,976
Units 2
Cap Rate 8.08%
NOI $24,220
Occupancy 100%
Pro-Forma Cap Rate 8.35%
Pro-Forma NOI $25,040
Price per SqFt $152
Year Built 1916
Year Renovated 2022
Buildings 1
Lot Size (SqFt) 3,519

Furnished Duplex | Two 2BD/1BA Units |

Marketing description

202 N French Ave presents a compelling duplex investment opportunity in the heart of Sioux Falls, South Dakota. This well-maintained property consists of two 2-bedroom, 1-bathroom residential units, offering immediate in-place cash flow and operational flexibility through a hybrid rental strategy, currently operated as a mix of mid-term and long-term rentals.

Both units are fully furnished, with utilities included in the rent, providing a truly turnkey solution for investors seeking strong tenant demand and simplified management. Garbage and internet expenses are split between the two units, allowing for cost efficiency while maintaining an attractive all-inclusive rental structure for tenants.

The property has been thoughtfully maintained, including a new roof installed in 2022, reducing near-term capital expenditure and supporting long-term durability. Its central Sioux Falls location further enhances tenant appeal due to proximity to employment centers, dining, retail, and essential services.

With stable cash flow, minimal deferred maintenance, and the ability to continue furnished rentals or transition to traditional long-term leasing, 202 N French Ave offers a compelling opportunity for investors seeking immediate income with optional operational upside.

Investment highlights

  • Duplex with two 2BD / 1BA units
  • Fully furnished units with utilities included in rent
  • Hybrid mid-term and long-term rental strategy
  • Turnkey investment with simplified management
  • Garbage and internet expenses split between units
  • New roof installed in 2022
  • Central Sioux Falls location with strong rental demand

Listing Contacts

NM
SD 21571, IA S67281000 (+1)
Gateway Real Estate Advisors
DS
SD 21887, IA S73739000 (+1)
Gateway Real Estate Advisors
Listed by Gateway Real Estate Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$24,220.00
$2,018.33/mo

Valuation Metrics

0
DSCR
8.08%
Cap Rate
8.08%
ROI

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Additional Information

Name
Nic Madsen
License
21571
Brokerage
Gateway Real Estate Advisors
Brokerage Phone
7122268000
Title
Real Estate Salesperson
Brokerage Address
700 Nebraska Street
Name
Daniel Stillson
License
21887
Brokerage
Gateway Real Estate Advisors
Brokerage Phone
7122628003
Title
Real Estate Salesperson
Brokerage Address
700 Nebraska Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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