Listed by CBRE - Des Moines
$1,500,000
Harrison Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 21,024
Units 23
Occupancy 100%
Pro-Forma Cap Rate 7.80%
Class B
Year Built 1980
Buildings 1
Stories 2
Investment Type Value Add
New Listing | 23 Units / 1980 Built | 100% Occupied
Marketing description
CBRE is pleased to present the opportunity to acquire Harrison Apartments, a well-maintained 23-unit multifamily property located in Pierre, South Dakota, the state capital. Constructed in 1980, the property consists of one two-story building featuring a mix of two and three bedroom floor plans averaging 914 square feet.
Harrison Apartments is available individually or as part of a 45-unit portfolio, which includes Old West Apartments in nearby Fort Pierre, South Dakota.
Click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=iBrv3-HU4pVGziV-chp6he2og7d7AMzQFMumoSYK2oa-Y5s46XlFI5OUtNiHvE1J
Investment highlights
- Address: 1615 E Dakota Ave, Pierre, SD 57501
- List Price: $1,500,000
- Cap Rate: 7.80%
- Year Built: 1980
- Number of Units: 23
- Unit Mix: 15-2BR/1BA; 8-3BR/1BA
- Total Rentable SF: 21,024
- Average Unit Size: 914 SF
- Avg. In Place Rent: $903
- Avg. In Place Rent Per SF: $0.98
- Number of Buildings: 1
- Number of Stories: 2
- Parking: Surface
Listing Contacts
Listed by CBRE - Des Moines
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