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$965,000
Est. payment /mo
14,244 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 14,244 sqft
Price per Sqft $67
Subdivision Mccartys Addn
MLS Listing ID 22607700
Year Built 1972
Annual Tax Amount $14,606
Lot Size 0.696 Acres
Property Sub-Type Other
Property Description
Much of the renovation work is done. The opportunity to improve performance remains.
Offered at $965,000—approximately $60,313 per unit—205 and 207 N Eastern Avenue combine 16 apartments across two buildings in Hartford, just outside Sioux Falls. The property features fourteen two-bedroom units and two one-bedroom units, with approximately 75% reportedly fully renovated. Updated boilers, recent exterior paint, and a new roof on 207 N Eastern complement the interior improvements.
With 13 units occupied and three available for lease-up, buyers have a tangible path to increasing income through occupancy stabilization, targeted improvements, and disciplined management. On-site parking, common laundry, and proximity to West Central schools and neighborhood recreation add to the rental offering.
The illustrative stabilized pro forma projects approximately $82,900 in annual NOI at the stated market rents and 5% vacancy—an 8.59% yield on the asking price, before financing and capital expenditures. For an investor prepared to complete the remaining work and execute the lease-up, this offering combines an accessible acquisition basis with a clear opportunity to strengthen long-term performance. Financial projections and property information are subject to buyer verification.
Offered at $965,000—approximately $60,313 per unit—205 and 207 N Eastern Avenue combine 16 apartments across two buildings in Hartford, just outside Sioux Falls. The property features fourteen two-bedroom units and two one-bedroom units, with approximately 75% reportedly fully renovated. Updated boilers, recent exterior paint, and a new roof on 207 N Eastern complement the interior improvements.
With 13 units occupied and three available for lease-up, buyers have a tangible path to increasing income through occupancy stabilization, targeted improvements, and disciplined management. On-site parking, common laundry, and proximity to West Central schools and neighborhood recreation add to the rental offering.
The illustrative stabilized pro forma projects approximately $82,900 in annual NOI at the stated market rents and 5% vacancy—an 8.59% yield on the asking price, before financing and capital expenditures. For an investor prepared to complete the remaining work and execute the lease-up, this offering combines an accessible acquisition basis with a clear opportunity to strengthen long-term performance. Financial projections and property information are subject to buyer verification.
Location
State SD
County Minnehaha
Area Sf60
Rooms
Basement Full
Interior
Heating Hot Water, Baseboard, Natural Gas
Flooring Carpet, Vinyl
Exterior
Exterior Feature Hard Board
Roof Type Other,Shingle Composition
Building
Foundation Poured
Sewer City Sewer
Water City Water, Community Water
Schools
Elementary Schools West Central Hartford Es
Middle Schools West Central Ms
High Schools West Central Hs
School District Sioux Falls
Others
Miscellaneous Separate Meters
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LIsted by 605 Real Estate LLC • Blake Bohner
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