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29493101
29493102

950 N Cliff Ave, Sioux Falls, SD 57103 For Sale

BS
SD 15071
605 Real Estate
Listed by 605 Real Estate
$28,200,000
170 days on market
Updated 67 days ago

Hidden Hills

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 215,169
Net Rentable (SqFt) 160,073
Units 179
Cap Rate 5.95%
NOI $1,678,273
Occupancy 91.6%
Price per SqFt $131
Class B
Year Built 2016
Buildings 3
Stories 3
Lot Size (SqFt) 490,481
Zoning RA-3
Investment Type Core+
Occupancy Date 12/01/2025
Ownership Tzadik Hidden Hills Apartments, LLC

Multifamily | 179 Units | $157,542/unit

Marketing description

Hidden Hills Apartments is a modern, Class B, garden-style multifamily community located at 950, 960, and 970 N Cliff Avenue in Sioux Falls, South Dakota. The property consists of 179 one-, two-, and three-bedroom units across three three-story residential buildings, situated on approximately 11.26 acres. Originally developed in 2016, Hidden Hills offers contemporary construction, efficient layouts, and strong appeal to Sioux Falls’ growing renter base.

The community features well-designed units with modern finishes and is supported by a combination of surface parking and detached garages, providing additional income and convenience for residents. Hidden Hills benefits from its proximity to major employment centers, retail, healthcare, and recreational amenities, while still offering a quiet, residential setting.

As of December 1, 2025, the property is 91.6% occupied and operates with strong in-place cash flow. With newer construction, a favorable expense profile, and zoning that supports continued multifamily use, Hidden Hills is positioned as a durable long-term hold or core-plus investment in one of the Midwest’s strongest rental markets.

Hidden Hills may be acquired individually or as part of a larger 716-unit multifamily portfolio, providing flexibility for both standalone investors and groups seeking immediate scale in Sioux Falls.

Investment highlights

  1. 179-unit Class B, garden-style apartment community

  2. Built in 2016 with modern construction and efficient layouts

  3. Three three-story residential buildings on 11.26 acres

  4. 160,073 SF of net rentable area

  5. 91.6% occupied as of December 1, 2025

  6. Strong in-place NOI of approximately $1.68M

  7. Favorable operating expense profile for newer construction

  8. Surface parking and detached garages providing supplemental income

  9. Zoned RA-3 / REC

  10. Offered individually or as part of a 716-unit multifamily portfolio

Listing Contacts

BS
SD 15071
605 Real Estate
Listed by 605 Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,678,273.00
$139,856.08/mo

Valuation Metrics

0
DSCR
5.95%
Cap Rate
5.95%
ROI

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Additional Information

Name
Brad Stearns
License
15071
Brokerage
605 Real Estate
Title
Responsible Broker
Brokerage Address
3500 West 59th Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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