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$2,080,000
Est. payment /mo
3 Beds
2 Baths
0.72 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Unit
Listing Status Active
Purchase Type For Sale
MLS Listing ID 833070
Bedrooms 3
Full Baths 2
Year Built 1979
Annual Tax Amount $23,908
Tax Year 2025
Lot Size 0.720 Acres
Acres 0.72
Property Sub-Type Multi-Unit
Property Description
Crawford Rising Apartments offers a rare combination of immediate income and long-term upside in a market that rarely disappoints. This stabilized 24-unit multifamily property in Vermillion, South Dakota is 100% occupied, nearly fully renovated, and supported by consistent demand from the University of South Dakota and the broader surrounding region. The offering is priced at $2,080,000 and features a 7.00% cap rate, current NOI of $145,553, and pro forma NOI of $162,370. The property includes two buildings on 0.72 acres with a unit mix of 22 two-bedroom/one-bath and 2 one-bedroom/one-bath residences. With limited capital needs and rents currently below market, this asset presents a clear value-add opportunity for investors who want dependable performance and room to grow from day one.
Location
State SD
County Clay
Area Other Default
Zoning res
Multi-Unit Info
Total Units 24
Unit 1 Information SqFt: 600; Bedroom: 1; Bathroom: 1; FullBath: 1
Unit 2 Information SqFt: 800; Bedroom: 2; Bathroom: 1; FullBath: 1
Building
Sewer City
Water City
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Listed by Gateway Real Estate Advisors
Nearby School & Business
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