1351 Iowa Ave SE - Apartments FOR SALE


Huron, SD 57350
$2,200,000 USD
605-999-4240
1351 Iowa Ave SE, Huron, SD for Sale
$2,200,000 USD
Apartments - FOR SALE
1/63
null | 7.01% Cap Rate

1351 Iowa Ave SE
Huron, SD 57350


HIGHLIGHTS

  • 24 of 28 units completed and rented
  • 4 remaining units to be completely year-end 2024
  • Tight rental market with near-zero vacancy

OVERVIEW

Redeveloped 28-unit multi-family apartment complex in tight rental market. 24 units (4 of 5 buildings) have been completed and are 100% occupied. Remaining building with 4 units will be completed by December 31, 2024. Unit mix is 24 one-bedroom units and 4 two-bedroom units. Renovations include removal of boilers and installation of new HVAC, new flooring, new appliances, new windows, updated electrical & plumbing, and new tenants. Creative financing options available!

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$73 USD /SF

# OF UNITS

28

PRICE/UNIT

$78,571

CAP RATE

7.01%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Green View Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

-

APN/PARCEL ID

11454,11455,11456

ASK ABOUT THIS PROPERTY

Brian EliasonJanklow Eliason Real EstateMore Info
605-999-4240

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Brian EliasonJanklow Eliason Real EstateMore Info
605-999-4240

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.