4-Unit Multifamily
For Sale
$374,900
201 N French Ave, Sioux Falls, SD 57103
Multi-Unit, Sioux Falls, SD
Property Size2,729 SF
Lot Size0.09 Acres
Price / SF$137.38
Days on Market255
Property Features for 201 N French Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bedroom 7, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 8, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 5
Directions
N. Cliff And 8 Th St., West 1 Block To French, 4 Plex On Corner
Subdivision
Surrounding Areas/Other Areas
Standard status
Active
APN
033983
Size
2,729 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 20 (EX W 55') BLOCK 2 GREATER SIOUX FALLS ADDN TO CITY OF SIOUX FALLS
Tax Annual Amount
3570
Legal Description
LOT 20 (EX W 55') BLOCK 2 GREATER SIOUX FALLS ADDN TO CITY OF SIOUX FALLS
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1915
Number of units
4
Listing Agency:
Gateway Real Estate Advisors
(712) 226-8000
Listed By:
Nic Madsen · License #S67281000
(712) 540-6562
Added: Jan 23
Changed: Sep 30
Last Checked: Oct 5 at 7:06PM
MLS# 831621
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 four-unit property at 201 N French Ave in Sioux Falls contains two one-bedroom, one-bathroom apartments and two three-bedroom, one-bathroom apartments. Renovation work is complete in three units and underway in the fourth. The building measures 2,729 square feet on a 0.0937-acre lot and was built in 1915. Heating is provided by forced air, with window-unit cooling.
A replacement roof was installed in 2022. The property is in Sioux Falls, South Dakota.
A replacement roof was installed in 2022. The property is in Sioux Falls, South Dakota.
Key Highlights
- Four apartments: two 1‑bedroom/1‑bathroom units and two 3‑bedroom/1‑bathroom units
- Three units renovated; renovation of the fourth is in progress
- 2,729‑square‑foot building on a 0.0937‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,823
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,460
$476.5K
Cap Rate 7%
$340,329
$340.3K
Cap Rate 9%
$264,700
$264.7K
Market Conditions
NOI Build-Up for 2,729 SF
Gross rent
$37.7K $13.80/SF
− Vacancy
−$3.6K −$1.33/SF
EGI
$34.0K $12.47/SF
− OpEx
−$10.2K −$3.74/SF
NOI
$23.8K $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%
$476,460
Cap Rate 7%
$340,329
Cap Rate 9%
$264,700
Alternative Uses
Best Use
Multifamily LT 5
$340.3K
$297.8K – $397.1K
NOI $23,823 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$312.1K
$273.1K – $364.2K
NOI $21,850 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$741.0K
$648.4K – $864.6K
NOI $51,873 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,248
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Three apartments have been updated, with work continuing in the remaining unit.
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 apartments: two 1‑bedroom/1‑bathroom units and two 3‑bedroom/1‑bathroom units; Three units renovated; renovation of the fourth is in progress; 2,729‑square‑foot building on a 0.0937‑acre lot
