7-Unit Residential Income
3312 TRANSIT AVE Sioux City, IA 51106
For Sale
$630,000
MULTI_FAMILY - Sioux City, IA
Property Size2,944 SF
Lot Size0.24 Acres
Price / SF$213.99
Days on Market28
Property Features for 3312 TRANSIT AVE
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
884706119003
Size
2,944 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HENRIETTA PLACE EX STRIP ON N TO STA TE LOTS 6 & 7 BLK 10
Tax Annual Amount
7003
Utilities
Cooling system
Central Air, Window Unit(s)
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# 833621
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 is a 7-unit, single-story residential income property with all units configured as 1BR/1BA. The building includes coin laundry and window/central air. Seven dedicated off-street parking spaces are provided for residents.
The property is offered for sale with 100% occupancy. It was built in 1961 and is positioned in an established South Side Sioux City neighborhood near local employment centers and retail corridors.
The current unit interiors present an opportunity for targeted renovations to modernize the asset and increase income, supported by the provided note that a value-add approach may be pursued through updates. Contact the listing agent for the offering memorandum and financials.
The property is offered for sale with 100% occupancy. It was built in 1961 and is positioned in an established South Side Sioux City neighborhood near local employment centers and retail corridors.
The current unit interiors present an opportunity for targeted renovations to modernize the asset and increase income, supported by the provided note that a value-add approach may be pursued through updates. Contact the listing agent for the offering memorandum and financials.
Key Highlights
- 7‑unit multifamily property built in 1961, all units are 1BR/1BA with 7 dedicated off‑street parking spaces
- 100% occupied with coin laundry on‑site
- Offers central air and window unit cooling across the building
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 | $39.6k | $13.44 |
| − Vacancy | −$2.0k | −$0.67 |
| EGI | $37.6k | $12.77 |
| − OpEx | −$16.9k | −$5.75 |
| NOI | $20.7k | $7.02 |
2,944 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$295.3K
$258.4K – $344.6K
NOI $20,674 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$442.4K
$387.1K – $516.1K
NOI $30,967 @ 7.0% cap · market cap 4.92%
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 - Single-story 7-unit building with 1BR/1BA units, coin laundry, and seven dedicated off-street parking spaces.
Where is this apartment building located?
The property is located at 3312 TRANSIT AVE 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 built in 1961, all units are 1BR/1BA with 7 dedicated off‑street parking spaces; 100% occupied with coin laundry on‑site; Offers central air and window unit cooling across the building
