Triplex with Studio
New
For Sale
$279,900
2512 S Summit Ave, Sioux Falls, SD 57105
MULTI-FAMILY, Sioux Falls, SD
Property Size1,654 SF
Lot Size0.25 Acres
Price / SF$169.23
Days on Market2
Property Features for 2512 S Summit Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA 1
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Basement, Bedroom 1, Bedroom 2, Bathroom 3
Appliances
Microwave, Range, Refrigerator
Subdivision
F A Smith Addn
Elementary school
Laura Wilder ES
Middle school
Edison MS
High school
Roosevelt HS
Elementary school district
Sioux Falls
Middle school district
SiouxFalls
High school district
SiouxFalls
Directions
Minnesota and 33rd, W to Summit, S to home
Standard status
Active
APN
47017
Size
1,654 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
12 Vac St & All 9 & S 17` 10 Block 4 Smith`S, F.A. Addn To City Of Sioux Fall S
Tax Annual Amount
2772
Legal Description
12 Vac St & All 9 & S 17` 10 Block 4 Smith`S, F.A. Addn To City Of Sioux Fall S
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
fireplace
Building Details
Year built
1950
Floors in Building
2
Number of units
3
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Amy Stockberger Real Estate
(605) 376-6780
Listed By:
Teresa Geiken
(605) 595-2623
Added: Oct 15
Last Checked: Oct 16 at 7:06AM
MLS# 22607922
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.
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Investment Insights
Based on property information with market context.
This 1,654-square-foot triplex on a 0.2515-acre lot contains three separate residences. The main unit has two bedrooms, a full bathroom, updated flooring and paint, and a fireplace. The lower-level unit includes one bedroom, one bathroom, refreshed flooring and paint, and a floor-to-ceiling fireplace. A studio apartment is situated beneath the garage. The property was built in 1950 and has vinyl siding and a composition roof; both are described as updated. Heating is natural gas, cooling is provided by window units, and the property has public water and sewer.
The property is within walking distance of the University of Sioux Falls and near Sanford Health. Downtown Sioux Falls, shopping, dining, and entertainment are also accessible from the central location. Zoning is RA 1.
The property is within walking distance of the University of Sioux Falls and near Sanford Health. Downtown Sioux Falls, shopping, dining, and entertainment are also accessible from the central location. Zoning is RA 1.
Key Highlights
- Three separate residences: a two‑bedroom unit, a one‑bedroom unit, and a studio beneath the garage
- 1,654 square feet on a 0.2515‑acre lot
- Main unit features a fireplace, updated flooring and paint, two bedrooms, and a full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,439
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,780
$288.8K
Cap Rate 7%
$206,271
$206.3K
Cap Rate 9%
$160,433
$160.4K
Market Conditions
NOI Build-Up for 1,654 SF
Gross rent
$22.8K $13.80/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$20.6K $12.47/SF
− OpEx
−$6.2K −$3.74/SF
NOI
$14.4K $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%
$288,780
Cap Rate 7%
$206,271
Cap Rate 9%
$160,433
Alternative Uses
Best Use
Multifamily LT 5
$206.3K
$180.5K – $240.7K
NOI $14,439 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$189.2K
$165.5K – $220.7K
NOI $13,243 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$449.1K
$393.0K – $524.0K
NOI $31,439 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 57105, SD
22,635
Population
10,550
Households
2.1
Avg Household Size
36
Median Age
44%
College-Educated
97%
High-School Grad
7.5 sq mi
ZIP Area
3,018
Density / Sq Mi
$74,066
Median Household Income
$43,271
Median Earnings
$956
Median Rent
$247,900
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
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include two multi-bedroom units and a studio beneath the garage.
Where is this triplex located?
The property is located at 2512 S Summit Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Three separate residences: a two‑bedroom unit, a one‑bedroom unit, and a studio beneath the garage; 1,654 square feet on a 0.2515‑acre lot; Main unit features a fireplace, updated flooring and paint, two bedrooms, and a full bathroom
