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Furnished Triplex in Sioux Falls

2504 S Summit Ave Sioux Falls, SD 57105

2504 S Summit Ave, Sioux Falls, SD, 57105

$450,000

For Sale

$450,000

MULTI_FAMILY - Sioux Falls, SD

Property Size2,420 SF

Lot Size0.22 Acres

Price / SF$185.95

AddedMay 27

Days on Market49

Last RefreshJul 14 at 6:06 pm

Property Features for 2504 S Summit Ave

General Information

Property type: Residential Multi Family
Property subtype: Other
Rooms: Basement
Security features: Security Lighting
Appliances: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Standard status: Active
APN: 47019
Size: 2,420 SF
Lot size: 0.22 Acres

Taxes and HOA fees

Tax Description: Block 4, Lot 14, N 8' 12 & All 13, Smith's F.A. Addn to City ofSioux Falls
Tax Annual Amount: 4945

Utilities

Sewer type: Public Sewer
Heating system: Natural Gas, Forced Air
Cooling system: Electric
Water source: Public

Building Details

Year built: 1948
Floors in Building: 2
Number of units: 3
Flooring type: Carpet, Vinyl, Wood, Tile, Laminate
Building materials: HardiPlank Type, Wood Siding
Roof type: Composition

Listing agent Keisha Tran

Listing office Amy Stockberger Real Estate 610 W 49th Street, Sioux Falls, SD

Listing date May 27, 2026

MLS# 22603776 Listing URL

Copyright © 2026 Realtor Association of the Sioux Empire MLS. 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 triplex in central Sioux Falls presents an investor opportunity. The property features three furnished units, offering flexible rental potential and a convenient location near 33rd Street, Minnesota Avenue, schools, shopping, dining, and everyday amenities. Currently utilized for short-term rental stays, the property includes a spacious 2 bedroom, 1 bath main floor unit, plus a 1 bedroom, 1 bath upper unit and a 1 bedroom, 1 bath lower-level unit. Each unit provides its own living space, kitchen area, bedroom/bath setup, and comfortable layout, creating options for an owner-occupant, house hacker, short-term rental investor, or long-term rental portfolio addition. The main floor unit features generous living and dining spaces, an inviting kitchen, two bedrooms, and a full bath. The lower level includes a living room, kitchen, bedroom, and bath. The upper unit offers a private entrance via exterior balcony access, with its own kitchen, living/dining space, bedroom, bath, and additional den/living area. Shared laundry access is available to all units in the basement. On-site paved parking adds everyday convenience. The seller intends to sell the property furnished, with some exclusions. The property is situated on a 0.2242-acre lot. The building has 2420 square feet of space. This flexible, income-producing property is located in a desirable Sioux Falls location with multiple paths for future use.

Key Highlights

Triplex built in 1948 with three separate furnished units
Unit mix: 2BR/1BA main floor, plus two 1BR/1BA units (upper and lower level)
Each unit has its own living space, kitchen area, and bedroom/bath setup

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$33.4k	$13.80
− Vacancy	−$3.2k	−$1.33
EGI	$30.2k	$12.47
− OpEx	−$9.1k	−$3.74
NOI	$21.1k	$8.73

2,420 SF · lease $13.80/SF/yr · vacancy 9.63% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$301.8K

$264.1K – $352.1K (±1% cap)

NOI $21,126 @ 7.0% cap · market cap 4.69%

Second Best

Apartment 5plus

$276.8K

$242.2K – $322.9K (±1% cap)

NOI $19,376 @ 7.0% cap · market cap 4.31%

Theoretical Best

Office A

$657.1K

$575.0K – $766.7K (±1% cap)

NOI $45,999 @ 7.0% cap · market cap 10.22%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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For sale
Triplexes
SD
Sioux Falls
57105
2504 S Summit Ave

What type of property is this?

Triplex - Triplex with flexible rental potential near amenities in Sioux Falls.

Where is this triplex located?

The property is located at 2504 S Summit Ave Sioux Falls, SD.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Triplex built in 1948 with three separate furnished units; Unit mix: 2BR/1BA main floor, plus two 1BR/1BA units (upper and lower level); Each unit has its own living space, kitchen area, and bedroom/bath setup

2504 S Summit Ave Sioux Falls, SD 57105

MULTI_FAMILY - Sioux Falls, SD

Property Features for 2504 S Summit Ave

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Historic Office Building with Parking

Industrial Flex Building with Overhead Doors

Four-Plex Townhome-Style Rental

Renovated Executive Office Building

Fourplex Income Property

New Construction Duplex Investment

Fourplex with Detached Garages

New Construction Walkout Duplex

Well-Maintained 4-Plex Property

Townhome-Style Multifamily Property

Commercial Garage Shop

Sioux Falls 6-Plex Investment

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