Renovating 7-Unit Apartment
1005 S GLASS ST Sioux City, IA 51106
For Sale
$630,000
MULTI_FAMILY - Sioux City, IA
Property Size5,610 SF
Lot Size0.17 Acres
Price / SF$112.30
Days on Market28
Property Features for 1005 S GLASS ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
com
Bedrooms
7
Bathrooms
7
Rooms
Bedroom 1, Bathroom 1, Bathroom 5, Bathroom 3, Bathroom 7, Bedroom 2, Bedroom 6, Bedroom 3, Bathroom 2, Bedroom 7, Bathroom 6, Bedroom 5, Bedroom 4, Bathroom 4
Standard status
Active
APN
894735331011
Size
5,610 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HOLMANS E 1/2 LOTS 1 & 2 BLK 13
Tax Annual Amount
7500
Utilities
Heating system
Forced Air
Building Details
Year built
1961
Number of units
7
Listing Agency:
Gateway Real Estate Advisors
(712) 226-8000
Listed By:
Nic Madsen · License #S67281000
(712) 540-6562
Added: Jul 1
Changed: Jul 22
Last Checked: Jul 28 at 3:06PM
MLS# 833622
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7-unit apartment building was built in 1961 and offers all units configured as 1BR/1BA with private entries and in-wall air conditioning. The current ownership has completed renovations on three of the seven units, which may help reduce near-term capital needs while leaving additional updates possible on the remaining units.
The property is located in an established South Side Sioux City neighborhood. It is currently 100% occupied.
The offering is positioned as a multifamily investment, with income reported as generating $37,817 in NOI.
The property is located in an established South Side Sioux City neighborhood. It is currently 100% occupied.
The offering is positioned as a multifamily investment, with income reported as generating $37,817 in NOI.
Key Highlights
- 7‑unit multifamily property offered at $630,000 ($90,000/unit)
- 100% occupied; generates $37,817 NOI
- Built in 1961 as a single‑story building; all units are 1BR/1BA
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.4k | $13.44 |
| − Vacancy | −$3.8k | −$0.67 |
| EGI | $71.6k | $12.77 |
| − OpEx | −$32.2k | −$5.75 |
| NOI | $39.4k | $7.02 |
5,610 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$562.8K
$492.5K – $656.6K
NOI $39,396 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$843.0K
$737.6K – $983.5K
NOI $59,010 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Seven 1BR/1BA units with private entries and in-wall AC, 100% occupied, with three units renovated by current ownership.
Where is this apartment building located?
The property is located at 1005 S GLASS ST Sioux City, IA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 7‑unit multifamily property offered at $630,000 ($90,000/unit); 100% occupied; generates $37,817 NOI; Built in 1961 as a single‑story building; all units are 1BR/1BA
