Historic 10-Unit Apartment
303 N 4th St Aberdeen, SD 57401
303 N 4th St, Aberdeen, SD, 57401
$689,702
For Sale
$689,702
For sale historic apartment building with 10 units in a 7,728 SF structure built in 1889.
Property Size7,728 SF
Price / SF$89.25
Days on Market27
Property Features for 303 N 4th St
General Information
- Standard status
- Active
- Size
- 7,728 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1889
Listing agency
(605) 880-1575
Listed by
Todd Syhre · License #SD #20428
(605) 880-1575
Source
7s
Added: Jun 25 Updated: Jul 21 at 1:17PM Checked: Jul 21 at 1:17PM
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 Todd Syhre
Investment Insights
Based on property information with market context.
Offered for sale, this historic apartment building includes a 7,728 SF structure with 10 units. Built in 1889, the property features classic character and is described as well-maintained, with modern amenities incorporated for today’s residents.
The building is located at 303 N 4th St in Aberdeen, South Dakota, positioned for multifamily ownership in the Aberdeen area.
With 10 residential units in a single mid-rise apartment building, the property provides a straightforward multifamily setup for investors seeking an income-producing asset with historic roots.
The building is located at 303 N 4th St in Aberdeen, South Dakota, positioned for multifamily ownership in the Aberdeen area.
With 10 residential units in a single mid-rise apartment building, the property provides a straightforward multifamily setup for investors seeking an income-producing asset with historic roots.
Key Highlights
- Historic apartment building built in 1889
- 7,728 SF building with 10 units
- Multifamily/mid‑rise investor asset with a mix of classic architecture and modern amenities
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.1k | $9.72 |
| − Vacancy | −$7.6k | −$0.99 |
| EGI | $67.5k | $8.73 |
| − OpEx | −$30.4k | −$3.93 |
| NOI | $37.1k | $4.80 |
7,728 SF · lease $9.72/SF/yr · vacancy 10.14% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$530.4K
$464.1K – $618.8K
NOI $37,125 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.35M
$1.18M – $1.57M
NOI $94,452 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - For sale historic apartment building with 10 units in a 7,728 SF structure built in 1889.
Where is this apartment building located?
The property is located at 303 N 4th St Aberdeen, SD.
What is the asking price?
The asking price for this property is $689,702.
What are key features of this property?
This property features: Historic apartment building built in 1889; 7,728 SF building with 10 units; Multifamily/mid‑rise investor asset with a mix of classic architecture and modern amenities
