1,136-Unit Multifamily
For Sale
Contact for pricing
1301 South Cleveland Avenue, Sioux Falls, SD 57103
Multifamily portfolio comprising multiple properties across Sioux Falls, South Dakota.
Property SizeContact for details
Days on Market10
Property Features for 1301 South Cleveland Avenue
General Information
Standard status
Active
Class
C
Property subtype
Multifamily
Net Operating Income
$6,911,933
Additional Details
Cap Rate
5.89%
Multifamily Units
1,136
Building Details
Buildings
21
Units
1136
Listing Agency:
605 Real Estate
Listed By:
Brad Stearns · License #15071
Source:
Crexi
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 19 at 4:46PM
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
Investment Insights
Based on property information with market context.
This multifamily portfolio includes 21 properties and 1,136 residential units distributed throughout Sioux Falls, South Dakota. The offering provides a substantial operating platform across multiple submarkets rather than a single apartment asset.
The portfolio is underwritten at a 5.89% going-in cap rate based on T12 NOI. Projected 10-year performance includes a 21.9% IRR and a 5.96x equity multiple. Sioux Falls is described as having a diversified economy with healthcare and financial employers, while the city’s population and employment growth support continued household formation and rental demand.
The portfolio is underwritten at a 5.89% going-in cap rate based on T12 NOI. Projected 10-year performance includes a 21.9% IRR and a 5.96x equity multiple. Sioux Falls is described as having a diversified economy with healthcare and financial employers, while the city’s population and employment growth support continued household formation and rental demand.
Key Highlights
- 21‑property multifamily portfolio
- 1,136 residential units across Sioux Falls, South Dakota
- 5.89% going‑in cap rate on T12 NOI
Property Analytics
Property Profile
Current Use
Lease Details
1136
Residential units
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 57103, SD
36,069
Population
15,326
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
91%
High-School Grad
9.5 sq mi
ZIP Area
3,797
Density / Sq Mi
$73,945
Median Household Income
$43,661
Median Earnings
$938
Median Rent
$244,800
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 - Multifamily portfolio comprising multiple properties across Sioux Falls, South Dakota.
Where is this apartment building located?
The property is located at 1301 South Cleveland Avenue Sioux Falls, SD.
What is the asking price?
The asking price for this property is $112,170,000.
What are key features of this property?
This property features: 21‑property multifamily portfolio; 1,136 residential units across Sioux Falls, South Dakota; 5.89% going‑in cap rate on T12 NOI
