Townhome-Style Apartment
For Sale
$7,950,000
4802 S Hosta Ave, Sioux Falls, SD 57110
MULTI-FAMILY, Sioux Falls, SD
Property Size59,544 SF
Lot Size3.08 Acres
Price / SF$133.51
Days on Market64
Property Features for 4802 S Hosta Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Not Verified
Appliances
Dishwasher, Disposal, Dryer, Range, Refrigerator, Washer
Subdivision
BROOKS CROSSING ADDITION TO THE CITY OF SIOUX FALL
Elementary school
John Harris 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
S from E 57th & Sycamore go N to E 54th St, S on S Hosta Ave, property on the east side of the road
Standard status
Active
APN
93024, 25, 26
Size
59,544 SF
Lot size
3.08 Acres
Taxes and HOA fees
Tax Description
LOT 2A, 2B, 2C BLOCK 3 BROOKS CROSSING ADDITION TO THE CITY OF SIOUX FALLS
Tax Annual Amount
97489
Legal Description
LOT 2A, 2B, 2C BLOCK 3 BROOKS CROSSING ADDITION TO THE CITY OF SIOUX FALLS
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Electric
Water source
Public
Amenities
attached garage
mudroom
in-unit laundry
private patio
Building Details
Year built
2021
Floors in Building
2
Number of units
42
Flooring type
Carpet, Vinyl
Building materials
HardiPlank Type
Roof type
Composition
Listing Agency:
CENTURY 21 Advantage · Century 21 Real Estate
(605) 336-2121
Listed By:
David Shelton · License #14836
(605) 336-2121
Added: Jun 23
Changed: Aug 25
Last Checked: Aug 25 at 8:06AM
MLS# 22604670
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.
Built in 2021, this 42-home apartment property combines townhome-style layouts with 59,544 square feet of residential space on 3.0815 acres. Homes offer private entries, open-concept main levels, kitchens with bar seating, dining and living areas, sliding-door access to private patios, and mudrooms adjoining attached garages. Bedrooms are located upstairs, along with in-unit laundry and a full bathroom; three-bedroom plans include a primary suite.
The unit mix includes two-bedroom and three-bedroom homes, with attached garages serving every residence. Nine Plan C homes provide two-car garages. The property is located at 4802 S Hosta Ave in southeast Sioux Falls, near E. 57th St and S. Sycamore Ave. Building systems include forced-air natural-gas heat, electric cooling, public water, and public sewer. Finishes include HardiPlank siding, vinyl and carpet flooring, and composition roofing.
The unit mix includes two-bedroom and three-bedroom homes, with attached garages serving every residence. Nine Plan C homes provide two-car garages. The property is located at 4802 S Hosta Ave in southeast Sioux Falls, near E. 57th St and S. Sycamore Ave. Building systems include forced-air natural-gas heat, electric cooling, public water, and public sewer. Finishes include HardiPlank siding, vinyl and carpet flooring, and composition roofing.
Key Highlights
- 42 townhome‑style apartment homes
- 59,544 square feet across 3.0815 acres
- Built in 2021
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
$476,741
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%
$9,534,820
$9.5M
Cap Rate 7%
$6,810,586
$6.8M
Cap Rate 9%
$5,297,122
$5.3M
Market Conditions
NOI Build-Up for 59,544 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
$964.6K $16.20/SF
− Vacancy
−$97.8K −$1.64/SF
EGI
$866.8K $14.56/SF
− OpEx
−$390.1K −$6.55/SF
NOI
$476.7K $8.01/SF
Area
Sioux Falls, SD
Vacancy
10.14%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$9,534,820
Cap Rate 7%
$6,810,586
Cap Rate 9%
$5,297,122
Alternative Uses
Best Use
Apartment 5plus
$6.81M
$5.96M – $7.95M
NOI $476,741 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.17M
$14.15M – $18.86M
NOI $1,131,812 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
42
Residential units
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 57110, SD
22,013
Population
9,178
Households
2.4
Avg Household Size
35
Median Age
43%
College-Educated
92%
High-School Grad
20.9 sq mi
ZIP Area
1,053
Density / Sq Mi
$87,114
Median Household Income
$52,202
Median Earnings
$1,018
Median Rent
$365,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Modern multifamily property with private entries, attached garages, patios, and in-unit laundry across a two- and three-bedroom mix.
Where is this apartment building located?
The property is located at 4802 S Hosta Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: 42 townhome‑style apartment homes; 59,544 square feet across 3.0815 acres; Built in 2021
