Fully Occupied 7-Unit Apartment
For Sale
Contact for pricing
3312 TRANSIT AVE, Sioux City, IA 51106
1961-built 7-unit property with one-bedroom, one-bath units and in-place 100% occupancy.
Property Size2,944 SF
Price / SF$213.99
Days on Market122
Property Features for 3312 TRANSIT AVE
General Information
Standard status
Active
Size
2,944 SF
Class
C
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$35,233
Additional Details
Multifamily Units
7
Amenities
off-street parking
coin laundry
window/central air
Building Details
Year Built
1961
Buildings
1
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
Gateway Real Estate Advisors
Listed By:
Nic Madsen · License #21571
(712) 540-6562
Source:
Crexi
Added: Jul 1
Changed: Oct 28
Last Checked: Oct 28 at 5:24AM
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 Gateway Real Estate Advisors
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Investment Insights
Based on property information with market context.
Transit Avenue Apartments at 3312 Transit Ave, Sioux City, IA is a fully occupied 7-unit multifamily building built in 1961. The property offers a unit mix of one-bedroom, one-bath apartments, supported by in-place performance highlighted by 100% occupancy, approximately $66,900 in annual gross revenue, and a current NOI of about $35,233.
On-site amenities include off-street parking and coin laundry. Heating and cooling are provided via window and central air.
For buyers, the asset presents a straightforward, income-producing apartment configuration with consistently occupied units and recurring operating income supported by its current gross revenue and NOI figures.
On-site amenities include off-street parking and coin laundry. Heating and cooling are provided via window and central air.
For buyers, the asset presents a straightforward, income-producing apartment configuration with consistently occupied units and recurring operating income supported by its current gross revenue and NOI figures.
Key Highlights
- 1961‑built 7‑unit multifamily property with one‑bedroom, one‑bath unit mix
- Fully occupied with 100% occupancy reported
- Annual gross revenue of $66,900 with current NOI of approximately $35,233
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,674
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$413,480
$413.5K
Cap Rate 7%
$295,343
$295.3K
Cap Rate 9%
$229,711
$229.7K
Market Conditions
NOI Build-Up for 2,944 SF
Gross rent
$39.6K $13.44/SF
− Vacancy
−$2.0K −$0.67/SF
EGI
$37.6K $12.77/SF
− OpEx
−$16.9K −$5.75/SF
NOI
$20.7K $7.02/SF
Area
Woodbury County, IA
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$413,480
Cap Rate 7%
$295,343
Cap Rate 9%
$229,711
Alternative Uses
Best Use
Apartment 5plus
$295.3K
$258.4K – $344.6K
NOI $20,674 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$442.4K
$387.1K – $516.1K
NOI $30,967 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
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Business Placement
Demographics for 51106, IA
28,655
Population
11,681
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
93%
High-School Grad
33.5 sq mi
ZIP Area
855
Density / Sq Mi
$74,486
Median Household Income
$40,495
Median Earnings
$1,080
Median Rent
$186,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - 1961-built 7-unit property with one-bedroom, one-bath units and in-place 100% occupancy.
Where is this apartment building located?
The property is located at 3312 TRANSIT AVE Sioux City, IA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 1961‑built 7‑unit multifamily property with one‑bedroom, one‑bath unit mix; Fully occupied with 100% occupancy reported; Annual gross revenue of $66,900 with current NOI of approximately $35,233
