Fully Occupied 7-Unit Apartment
3312 TRANSIT AVE Sioux City, IA 51106
For Sale
Contact for pricing
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 Market27
Property Features for 3312 TRANSIT AVE
General Information
- Standard status
- Active
- Size
- 2,944 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1961
Listing Agency:
Gateway Real Estate Advisors
(712) 540-6562
Listed By:
Nic Madsen · License #S67281000
Source:
Crexi
Added: Jul 1
Changed: Jul 23
Last Checked: Jul 26 at 8:47AM
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
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 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 | $39.6k | $13.44 |
| − Vacancy | −$2.0k | −$0.67 |
| EGI | $37.6k | $12.77 |
| − OpEx | −$16.9k | −$5.75 |
| NOI | $20.7k | $7.02 |
2,944 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
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
