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Historic Art-Deco Apartment Building
For Sale
$2,400,000

703 S Summit Avenue, Sioux Falls, SD 57104

30-unit apartment building with striking Art-Deco architecture.

Days on Market124

Property Features for 703 S Summit Avenue

General Information

Standard status Active
Property subtype Multifamily

Building Details

Year Built 1937
Listing Agency: NAI | Sioux Falls
Listed By: Michael Martin, CCIM · License #16008
Source: Naiglobal
Added: Apr 1 Changed: Jul 10 Last Checked: Aug 2 at 4:38AM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI | Sioux Falls

Investment Insights

Based on property information with market context.

This historic apartment building features striking Art-Deco architecture and is listed on the National Register of Historic Places. The property comprises 30 units, with a unit mix of 12 studio apartments, 17 one-bedroom apartments, and 1 two-bedroom apartment. There are 11 garage spaces available. The building includes 6 furnished units and a common-area patio located above the garages. On-site coin-operated laundry facilities are available for residents.

Key Highlights

  • Striking Art‑Deco Architecture
  • Listed on the National Register of Historic Places
  • 30 Units with a Mix of Studio, 1‑Bed, and 2‑Bed Apartments

Property Analytics

Current Use

Vintage Apartment Rentals Property Management Company

Suggested Use

Top Pick Locksmith Electrical Service (Bike/Boat/Book/etc) Store Veterinary Clinic Pet Grooming Service Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,031
Businesses Nearby

Demographics for 57104, SD

26,998
Population
13,952
Households
1.9
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
30.4 sq mi
ZIP Area
888
Density / Sq Mi
$59,161
Median Household Income
$39,101
Median Earnings
$849
Median Rent
$183,700
Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
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Frequently Asked Questions

What type of property is this?
Apartment building - 30-unit apartment building with striking Art-Deco architecture.
Where is this apartment building located?
The property is located at 703 S Summit Avenue Sioux Falls, SD.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Striking Art‑Deco Architecture; Listed on the National Register of Historic Places; 30 Units with a Mix of Studio, 1‑Bed, and 2‑Bed Apartments
More about this property
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