Listed by Gateway Real Estate Advisors
$800,000
410 N Spring Avenue
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,800
Net Rentable (SqFt) 4,800
Units 8
Cap Rate 4.98%
NOI $39,851
Occupancy 67%
Price per SqFt $167
Class C
Year Built 1976
Buildings 1
Stories 2
Acreage 0.152
Zoning Commercial
Investment Type Stabilized
Multifamily | 8 Units | $100,000/unit
Marketing description
Spring Avenue Apartments is the kind of property that quietly outperforms — small enough to feel like a home, well-located enough to never struggle for tenants. All 8 units are one-bedroom residences, catering directly to the growing segment of single-occupant renters and young professionals who are fueling demand in walkable urban neighborhoods across Sioux Falls. For an owner-operator, the appeal is equally clear: 8 units, minimal capital requirements, and a location that does the leasing work for you. As Sioux Falls' downtown continues to draw residents, businesses, and investment northward, Spring Avenue Apartments sits squarely in the path of that progress.
Listing Contacts
Listed by Gateway Real Estate Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$39,851.00
$3,320.92/mo
Valuation Metrics
0
DSCR
4.98%
Cap Rate
4.98%
ROI
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