Brick Multifamily Income
2429-47 Williams Ave., Sioux City, IA 51103
MULTI_FAMILY - Sioux City, IA
Property size:
6,625 SFLot size:
0.69 AcresPrice / SF:
$124/SF- Added:
- Apr 16, 2026
- Days on Market:
- 48
- Last Refresh:
- Jun 2 at 12:06 pm
Property Features for 2429-47 Williams Ave.
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- SC
- Bedrooms
- 7
- Bathrooms
- 10
- Rooms
- Bathroom 2, Bathroom 10, Bathroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 8, Bedroom 3, Bathroom 6, Bathroom 7, Bedroom 1, Bedroom 7, Bathroom 5, Bathroom 1, Bathroom 3, Bathroom 9, Bedroom 4
- Standard status
- Active
- APN
- 884801204006
- Size
- 6,625 SF
- Lot size
- 0.69 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- FLOYD PARK LOTS 9-13 INCL & LOT 14 BLK 9
- Tax Annual Amount
- 11126
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1952
- Number of units
- 13
Listing agent LaNay Welch (712) 226-1900
Listing office Keller Williams Siouxland 103 Virginia St. Suite 100, Sioux City, IA (712) 226-1900
Listing date Apr 16, 2026
MLS# 832586
Listing URL
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.
HighLights
- 100% occupancy across 13 units with monthly rental income of over $9,000
- Unit mix includes several 1‑bedroom brick homes, four studio apartments, and two 2‑bedroom units
- Major appliances stay with the units
- Tenants pay for all utilities except water
- Air conditioning units are tenant‑owned
- Forced‑air heating; property built in 1952
Overview
This brick multifamily income property contains 13 total units, combining several 1-bedroom homes with four studio apartments and two 2-bedroom units. The units are offered with major appliances included, supporting an efficient transition for an owner or operator. According to the current offering, occupancy is 100%, with monthly rental income reported at over $9,000. Tenants pay for all utilities except water, and air conditioning units are tenant-owned, which can help limit certain operating and maintenance responsibilities. One unit also includes a full basement with potential for conversion into additional living quarters.
The property sits on a 0.69-acre lot and totals 6,625 square feet. The listing is positioned in Sioux City under zoning designated as SC. With multiple unit types already in place, the mix may appeal to a broad range of prospective renters.
For investors seeking stabilized cash flow with a diversified unit mix, this asset offers an immediate income base through full occupancy and long-term tenant residency, as described in the remarks. The presence of one unit with basement expansion potential may also provide an in-place opportunity to increase usable space over time. Tenant utility responsibility, along with tenant-owned air conditioning, can make budgeting more predictable for a new owner.
The property sits on a 0.69-acre lot and totals 6,625 square feet. The listing is positioned in Sioux City under zoning designated as SC. With multiple unit types already in place, the mix may appeal to a broad range of prospective renters.
For investors seeking stabilized cash flow with a diversified unit mix, this asset offers an immediate income base through full occupancy and long-term tenant residency, as described in the remarks. The presence of one unit with basement expansion potential may also provide an in-place opportunity to increase usable space over time. Tenant utility responsibility, along with tenant-owned air conditioning, can make budgeting more predictable for a new owner.
Local 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 | $89.0k | $13.44 |
| − Vacancy | −$4.5k | −$0.67 |
| EGI | $84.6k | $12.77 |
| − OpEx | −$38.1k | −$5.75 |
| NOI | $46.5k | $7.02 |
6,625 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$664.6K
$581.5K – $775.4K
NOI $46,523 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$995.5K
$871.1K – $1.16M
NOI $69,687 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Sioux City
- County
- Woodbury
- State
- Iowa
- Longitude
- -96.377869
- Latitude
- 42.473751
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fully occupied 13-unit mix with tenant-paid utilities and appliances included, offering established rental income potential.
Where is this apartment building located?
The property is located at 2429-47 Williams Ave. Sioux City, IA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 100% occupancy across 13 units with monthly rental income of over $9,000; Unit mix includes several 1‑bedroom brick homes, four studio apartments, and two 2‑bedroom units; Major appliances stay with the units
