Four-Unit Apartment
1300 E 6th St, Sioux Falls, SD 57106
For Sale
$339,900
Three apartments and an efficiency share the building with coin-operated laundry; residents pay their own electricity.
Property Size1,873 SF
Price / SF$181.47
Days on Market69
Property Features for 1300 E 6th St
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
coin-operated laundry
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
605 Real Estate LLC
(605) 759-4294
Listed By:
Tonya Madsen
Source:
Davedaale
Added: Sep 3
Changed: Nov 9
Last Checked: Nov 9 at 4:11PM
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 605 Real Estate LLC
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Investment Insights
Based on property information with market context.
This four-unit residential property contains two upper-level one-bedroom, one-bath apartments, a main-floor apartment with two bedrooms and one bath, and a lower-level efficiency. The building measures 1,873 square feet and dates to 1934. Coin-operated laundry is on site, and tenants are responsible for their electricity.
Key Highlights
- Four units: two one‑bedroom, one‑bath apartments, one two‑bedroom, one‑bath apartment, and one efficiency
- 1,873‑square‑foot building constructed in 1934
- Coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,351
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$327,020
$327.0K
Cap Rate 7%
$233,586
$233.6K
Cap Rate 9%
$181,678
$181.7K
Market Conditions
NOI Build-Up for 1,873 SF
Gross rent
$25.8K $13.80/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$23.4K $12.47/SF
− OpEx
−$7.0K −$3.74/SF
NOI
$16.4K $8.73/SF
Area
Sioux Falls, SD
Vacancy
9.63%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$327,020
Cap Rate 7%
$233,586
Cap Rate 9%
$181,678
Alternative Uses
Best Use
Multifamily LT 5
$233.6K
$204.4K – $272.5K
NOI $16,351 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$214.2K
$187.5K – $249.9K
NOI $14,996 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$508.6K
$445.0K – $593.4K
NOI $35,602 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
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Business Placement
Demographics for 57106, SD
47,877
Population
21,722
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
93%
High-School Grad
30.3 sq mi
ZIP Area
1,580
Density / Sq Mi
$77,070
Median Household Income
$47,554
Median Earnings
$996
Median Rent
$268,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Three apartments and an efficiency share the building with coin-operated laundry; residents pay their own electricity.
Where is this quadplex located?
The property is located at 1300 E 6th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Four units: two one‑bedroom, one‑bath apartments, one two‑bedroom, one‑bath apartment, and one efficiency; 1,873‑square‑foot building constructed in 1934; Coin‑operated laundry
