Four-Unit Multifamily Property with
For Sale
$374,900
201 N French Ave, Sioux Falls, SD 57101
The property combines varied unit layouts with substantial renovation work completed across the building.
Property Size2,792 SF
Price / SF$134.28
Days on Market356
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Property Features for 201 N French Ave
General Information
Standard status
Active
Size
2,792 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 2 x 3BR/1BA
Multifamily Units
4
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Gateway Real Estate Advisors
Listed By:
Daniel Stillson · License #S73739000
(712) 739-0830
Source:
Siouxfallsareahomesearch
Added: Oct 25, 2025
Changed: Oct 1
Last Checked: Oct 14 at 11:20PM
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 Gateway Real Estate Advisors
Investment Insights
Based on property information with market context.
Built in 1915, this 2,792-square-foot multifamily property contains four residential units with a balanced mix of two one-bedroom, one-bath units and two three-bedroom, one-bath units. Three apartments have been renovated, while work on the remaining unit is underway.
Located at 201 N French Ave in Sioux Falls, South Dakota, the property offers an established four-unit configuration with both smaller and larger floor plans. The completed improvements and ongoing work are central physical features of the asset.
Located at 201 N French Ave in Sioux Falls, South Dakota, the property offers an established four-unit configuration with both smaller and larger floor plans. The completed improvements and ongoing work are central physical features of the asset.
Key Highlights
- Four units totaling 2,792 square feet
- Unit mix includes two 1‑bed/1‑bath and two 3‑bed/1‑bath apartments
- Three units renovated; fourth unit renovation in progress
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,373
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,460
$487.5K
Cap Rate 7%
$348,186
$348.2K
Cap Rate 9%
$270,811
$270.8K
Market Conditions
NOI Build-Up for 2,792 SF
Gross rent
$38.5K $13.80/SF
− Vacancy
−$3.7K −$1.33/SF
EGI
$34.8K $12.47/SF
− OpEx
−$10.4K −$3.74/SF
NOI
$24.4K $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%
$487,460
Cap Rate 7%
$348,186
Cap Rate 9%
$270,811
Alternative Uses
Best Use
Multifamily LT 5
$348.2K
$304.7K – $406.2K
NOI $24,373 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$319.3K
$279.4K – $372.6K
NOI $22,354 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$758.1K
$663.4K – $884.5K
NOI $53,070 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - The property combines varied unit layouts with substantial renovation work completed across the building.
Where is this quadplex located?
The property is located at 201 N French Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Four units totaling 2,792 square feet; Unit mix includes two 1‑bed/1‑bath and two 3‑bed/1‑bath apartments; Three units renovated; fourth unit renovation in progress
