Renovated Four-Unit Apartment
201 N French Ave, Sioux Falls, SD 57103
For Sale
$374,900
Multi-Unit, Sioux Falls, SD
Property Size2,729 SF
Lot Size0.09 Acres
Price / SF$137.38
Days on Market296
Property Features for 201 N French Ave
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Listing Agency:
Gateway Real Estate Advisors
(712) 226-8000
Listed By:
Nic Madsen · License SD S67281000
(712) 540-6562
Added: Jan 23
Changed: Nov 11
Last Checked: Nov 14 at 12:06AM
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.
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains two one-bedroom, one-bathroom units and two three-bedroom, one-bathroom units. Three residences have been renovated, while renovation work continues in the fourth. The 2,729-square-foot building was constructed in 1915 and received a new roof in 2022.
Forced-air heating and window-unit cooling serve the property. The parcel measures 0.0937 acres and is located in Sioux Falls, South Dakota.
Forced-air heating and window-unit cooling serve the property. The parcel measures 0.0937 acres and is located in Sioux Falls, South Dakota.
Key Highlights
- Four units: two 1‑bedroom/1‑bathroom and two 3‑bedroom/1‑bathroom residences
- Three units renovated; renovation underway in the fourth
- 2,729‑square‑foot building constructed in 1915
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.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - A mix of one- and three-bedroom residences, with work completed in three units and the remaining unit under renovation.
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: two 1‑bedroom/1‑bathroom and two 3‑bedroom/1‑bathroom residences; Three units renovated; renovation underway in the fourth; 2,729‑square‑foot building constructed in 1915
