1118 W 8th St, Sioux Falls, SD 57104
MULTI_FAMILY - Sioux Falls, SD
- Added:
- May 5, 2026
- Days on Market:
- 53
- Last Refresh:
- Jun 26 at 4:06 am
Property Features for 1118 W 8th St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Standard status
- Active
- APN
- 28985
- Size
- 2,204 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Description
- W 50` 10 To 12 Block 12 Covell's 1st Addn To City Of Sioux Falls
- Tax Annual Amount
- 3432
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1919
- Floors in Building
- 2
- Flooring type
- Laminate, Vinyl, Carpet
- Roof type
- Composition
Listing agent Aiden Schoenhard (605) 360-7506
Listing office Ekholm Team Real Estate 1101 W Glen Eagle Cr, Sioux Falls, SD (605) 360-7506
Listing date May 5, 2026
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.
HighLights
- 5‑plex built in 1919 with 1 bed/1 bath units
- Listed at $325,000 with approximately $3,660/month in gross rental potential
- Recent updates include fresh interior and exterior paint
- Most units feature new flooring (laminate, carpet, vinyl) and updated finishes
- Detached garage on the property, adding additional income potential
- Utilities include public water and public sewer; roof is composition
Overview
The property is located at 1118 W 8th St in Sioux Falls, within Minnehaha County. The configuration is set up for straightforward, repeatable apartment leasing given the consistent unit mix.
At the stated gross rental potential of approximately $3,660 per month, the building may suit investors seeking a turn-key, recently refreshed multifamily asset, as well as owner-occupants looking to offset housing costs with rental income. With most units updated and a consistent one-bedroom layout, the property is designed for practical day-to-day management and leasing continuity.
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 | $35.7k | $16.20 |
| − Vacancy | −$3.6k | −$1.64 |
| EGI | $32.1k | $14.56 |
| − OpEx | −$14.4k | −$6.55 |
| NOI | $17.6k | $8.01 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Sioux Falls
- County
- Lincoln
- State
- South Dakota
- Longitude
- -96.743809
- Latitude
- 43.548808
