44-Unit Townhome
For Sale
$4,950,000
1600 26th St, Sioux City, IA 51104
Multi-Unit, Sioux City, IA
Property Size44,256 SF
Lot Size3.37 Acres
Price / SF$111.85
Days on Market322
Property Features for 1600 26th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NC.5
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 6, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 7
Directions
GPS
Subdivision
Nside Central
Standard status
Active
APN
894722106000
Size
44,256 SF
Lot size
3.37 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
1600 Block of 26th St - DUPONT PARK 2ND DUPONT APARTMENTS APT 5 1/28TH INT COM AREA LOT 179-197 VAC PT OF 26TH ST EXPT TO CITY 1200 Block of 26th St - HYDE PARK LOTS 2-7 INCL BLK 3 KNOWN AS HYDE PARK A PTS
Tax Annual Amount
60172
Legal Description
1600 Block of 26th St - DUPONT PARK 2ND DUPONT APARTMENTS APT 5 1/28TH INT COM AREA LOT 179-197 VAC PT OF 26TH ST EXPT TO CITY 1200 Block of 26th St - HYDE PARK LOTS 2-7 INCL BLK 3 KNOWN AS HYDE PARK A PTS
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1953
Number of units
44
Listing Agency:
Plains Asset Group
Listed By:
Jamie Friedel
(712) 539-0990
Added: Oct 27, 2025
Changed: Sep 12
Last Checked: Sep 13 at 1:06PM
MLS# 830791
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 apartment-building portfolio includes 44 townhomes across two sites, totaling 44,256 square feet on 3.37 acres. The unit mix comprises sixteen two-bedroom townhomes at one site and twenty-eight units at the other, including twenty three-bedroom and eight two-bedroom townhomes. The properties were built in 1953 and feature forced-air heating and central air conditioning.
The package includes the properties at 1200–1230 26th Street and 1510–1623 26th Street, along with an adjacent vacant lot at the first site. Basements at the second site are unfinished, providing additional space within the existing buildings. The portfolio is zoned NC.5 and is offered as one combined sale.
The package includes the properties at 1200–1230 26th Street and 1510–1623 26th Street, along with an adjacent vacant lot at the first site. Basements at the second site are unfinished, providing additional space within the existing buildings. The portfolio is zoned NC.5 and is offered as one combined sale.
Key Highlights
- 44 townhomes offered together as one portfolio
- 44,256 square feet across two sites
- 3.37‑acre combined property area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$310,783
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,215,660
$6.2M
Cap Rate 7%
$4,439,757
$4.4M
Cap Rate 9%
$3,453,144
$3.5M
Market Conditions
NOI Build-Up for 44,256 SF
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.
Gross rent
$594.8K $13.44/SF
− Vacancy
−$29.7K −$0.67/SF
EGI
$565.1K $12.77/SF
− OpEx
−$254.3K −$5.75/SF
NOI
$310.8K $7.02/SF
Area
Woodbury County, IA
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,215,660
Cap Rate 7%
$4,439,757
Cap Rate 9%
$3,453,144
Alternative Uses
Best Use
Apartment 5plus
$4.44M
$3.88M – $5.18M
NOI $310,783 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.65M
$5.82M – $7.76M
NOI $465,518 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
44
Residential units
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 51104, IA
23,080
Population
9,119
Households
2.5
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
7.5 sq mi
ZIP Area
3,077
Density / Sq Mi
$74,984
Median Household Income
$42,411
Median Earnings
$955
Median Rent
$193,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-site residential portfolio with varied bedroom layouts, unfinished basements, and central air conditioning.
Where is this apartment building located?
The property is located at 1600 26th St Sioux City, IA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 44 townhomes offered together as one portfolio; 44,256 square feet across two sites; 3.37‑acre combined property area
