Four-Unit Apartment
For Sale
$549,000
2900 E Klondike Trl, Sioux Falls, SD 57103
MULTI-FAMILY, Sioux Falls, SD
Property Size3,776 SF
Lot Size0.32 Acres
Price / SF$145.39
Days on Market92
Property Features for 2900 E Klondike Trl
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Not Verified
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 3, Basement, Bathroom 1, Bedroom 7, Bedroom 6, Bedroom 8, Bathroom 2, Bathroom 4, Bedroom 2
Security features
Security Lighting
Appliances
Dishwasher, Dryer, Range, Refrigerator, Washer
Subdivision
Klondike Addn
Elementary school
Harvey Dunn ES
Middle school
Ben REifel Middle School
High school
Washington HS
Elementary school district
Sioux Falls
Middle school district
SiouxFalls
High school district
SiouxFalls
Directions
E. 26th & S. Bahnson, W. on Oak St. which turns into Klondike
Standard status
Active
APN
38270
Size
3,776 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
E 45` 16 & ALL 15 BLOCK 5 KLONDIKE ADDN TO CITY OF SIOUX FALLS
Tax Annual Amount
5493
Legal Description
E 45` 16 & ALL 15 BLOCK 5 KLONDIKE ADDN TO CITY OF SIOUX FALLS
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Amenities
common utility area
Building Details
Year built
1977
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
RE/MAX Professionals Inc · RE/MAX International
(605) 334-8585
Listed By:
Lisa Touney · License #12127
(605) 310-1162
Added: Jun 9
Changed: Sep 8
Last Checked: Sep 8 at 5:06PM
MLS# 22604191
Copyright © 2026 Realtor Association of the Sioux Empire MLS. 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.
Located at 2900 E Klondike Trl in Sioux Falls, this four-unit apartment property contains four two-bedroom, one-bath residences within 3,776 square feet. Each unit is paired with a detached single-stall garage, while a common utility area serves the property.
The 0.3223-acre site includes vinyl siding, composition roofing, carpet and vinyl flooring, hot water heating, and window-unit cooling. Appliances include ranges, refrigerators, dishwashers, washers, and dryers. Public water and public sewer serve the property. Built in 1977, the asset is positioned in the east-side Sioux Falls area.
The 0.3223-acre site includes vinyl siding, composition roofing, carpet and vinyl flooring, hot water heating, and window-unit cooling. Appliances include ranges, refrigerators, dishwashers, washers, and dryers. Public water and public sewer serve the property. Built in 1977, the asset is positioned in the east-side Sioux Falls area.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- 3,776 square feet on a 0.3223‑acre site
- Detached single‑stall garage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,964
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$659,280
$659.3K
Cap Rate 7%
$470,914
$470.9K
Cap Rate 9%
$366,267
$366.3K
Market Conditions
NOI Build-Up for 3,776 SF
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.
Gross rent
$52.1K $13.80/SF
− Vacancy
−$5.0K −$1.33/SF
EGI
$47.1K $12.47/SF
− OpEx
−$14.1K −$3.74/SF
NOI
$33.0K $8.73/SF
Area
Sioux Falls, SD
Vacancy
9.63%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$659,280
Cap Rate 7%
$470,914
Cap Rate 9%
$366,267
Alternative Uses
Best Use
Multifamily LT 5
$470.9K
$412.1K – $549.4K
NOI $32,964 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$431.9K
$377.9K – $503.9K
NOI $30,233 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$1.03M
$897.2K – $1.20M
NOI $71,774 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 57103, SD
36,069
Population
15,326
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
91%
High-School Grad
9.5 sq mi
ZIP Area
3,797
Density / Sq Mi
$73,945
Median Household Income
$43,661
Median Earnings
$938
Median Rent
$244,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence includes a detached single-stall garage and access to a shared utility area.
Where is this quadplex located?
The property is located at 2900 E Klondike Trl Sioux Falls, SD.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; 3,776 square feet on a 0.3223‑acre site; Detached single‑stall garage for each unit
