Two-Story 12-Unit Apartment
515-525 S COLLEGE ST Sioux City, IA 51106
For Sale
$960,000
MULTI_FAMILY - Sioux City, IA
Property Size6,526 SF
Lot Size0.56 Acres
Price / SF$147.10
Days on Market28
Property Features for 515-525 S COLLEGE ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
com
Bedrooms
12
Bathrooms
10
Rooms
Bedroom 4, Bedroom 6, Bedroom 8, Bedroom 7, Bedroom 12, Bedroom 2, Bathroom 10, Bedroom 3, Bedroom 11, Bedroom 1, Bathroom 5, Bathroom 3, Bathroom 8, Bedroom 9, Bedroom 5, Bathroom 4, Bedroom 10, Bathroom 2, Bathroom 1, Bathroom 6, Bathroom 7, Bathroom 9
Standard status
Active
APN
894734252016
Size
6,526 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CB RUSTIN & CO S 241 FT E 166 FT EX N 186 FT S 191 FT E 83 FT BLK 31
Tax Annual Amount
36
Building Details
Year built
1976
Number of units
12
Listing Agency:
Gateway Real Estate Advisors
(712) 226-8000
Listed By:
Nic Madsen · License #S67281000
(712) 540-6562
Added: Jul 1
Changed: Jul 15
Last Checked: Jul 28 at 3:06PM
MLS# 833617
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 12-unit apartment building is built across two stories and constructed in 1976. The unit mix includes four 2BR/1BA apartments and eight 1BR/1BA apartments. The property is 100% occupied, and 7 of the 12 units are described as updated, with the remaining units positioned for further improvements. Amenities include ample on-site parking, washer/dryer hookups, and central air.
The property is located at 515-525 S College St in Sioux City, Iowa, in Woodbury County. The building size is listed at 6,526 square feet, situated on 0.56 acres.
Financially, the listing states the property generates $66,748 in NOI. The offering is presented as a multifamily investment opportunity with an established occupancy profile.
The property is located at 515-525 S College St in Sioux City, Iowa, in Woodbury County. The building size is listed at 6,526 square feet, situated on 0.56 acres.
Financially, the listing states the property generates $66,748 in NOI. The offering is presented as a multifamily investment opportunity with an established occupancy profile.
Key Highlights
- 12‑unit multifamily built in 1976, offered at $960,000 ($80,000/unit).
- Fully occupied: 100% occupancy and $66,748 in NOI reported.
- Unit mix includes four 2BR/1BA and eight 1BR/1BA units.
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 | $87.7k | $13.44 |
| − Vacancy | −$4.4k | −$0.67 |
| EGI | $83.3k | $12.77 |
| − OpEx | −$37.5k | −$5.75 |
| NOI | $45.8k | $7.02 |
6,526 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$654.7K
$572.9K – $763.8K
NOI $45,828 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$980.6K
$858.1K – $1.14M
NOI $68,645 @ 7.0% cap · market cap 7.15%
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 - Twelve apartment units in a two-story 1976 building with central air, on-site parking, and washer/dryer hookups.
Where is this apartment building located?
The property is located at 515-525 S COLLEGE ST Sioux City, IA.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 12‑unit multifamily built in 1976, offered at $960,000 ($80,000/unit).; Fully occupied: 100% occupancy and $66,748 in NOI reported.; Unit mix includes four 2BR/1BA and eight 1BR/1BA units.
