Listed by Lloyd Companies
$4,550,000
Majestic View Townhomes
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 41,600
Units 40
Cap Rate 5.58%
NOI $253,998
Occupancy 92.5%
Price per SqFt $109
Class B
Year Built 1995
Buildings 4
Stories 2
Acreage 2.730
Zoning RA-1
Investment Type Stabilized
Stabilized Real Estate Investment
Marketing description
Majestic View Townhomes is centrally located in Sioux Falls, South Dakota within a quiet residential neighborhood just off 18th Street and Cleveland Avenue. The property benefits from convenient access to major roadways, including I-229, allowing for strong connectivity across the city. The location places residents within walking distance to multiple bus stops, minutes from Downtown Sioux Falls, and nearby multiple regional employment centers. Its proximity to recreational amenities like Riverdale Park and the trail system positions the asset in a stable and well-connected area with continued growth and development throughout the trade area. This offering presents a stabilized multifamily investment property with in-place income.
Investment highlights
- 40-unit multifamily townhome community
- 4 buildings | 2 stories
- Strong occupancy at 92.5%
- Unit mix: studio, 2-bedroom, and 3-bedroom layouts
- Average Rents:
- Studio / 1 Bath - $724
- 2 Bedroom / 1.5 Bath - $932
- 3 Bedroom / 2 Bath - $1,062
- Detached garages (32) and storage units (8)
- Townhome style units with patios, balconies, and yard space
- Over $276K in capital improvements since 2016
- Landscaping, parking lot improvements, sidewalk repairs, exterior paint, windows, siding, & doors, and more
- See marketing package for details
- Landscaping, parking lot improvements, sidewalk repairs, exterior paint, windows, siding, & doors, and more
- Well-maintained with professional management by Reside Property Management
- Built in 1995
- Real Estate Taxes: $39,260.36 (2025 Payable in 2026)
- Zoned: RA-1
Listing Contacts
Listed by Lloyd Companies
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$253,998.00
$21,166.50/mo
Valuation Metrics
0
DSCR
5.58%
Cap Rate
5.58%
ROI
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