Turnkey 8-Plex Apartment
3505 S Hawthorne Ave Sioux Falls, SD 57105
3505 S Hawthorne Ave, Sioux Falls, SD, 57105
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For Sale
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Fully leased 8-plex with coin-operated laundry, detached garages, through-the-wall A/C, boiler heat, and ample on-site parking.
Property Size3,552 SF
Price / SF$213.96
Days on Market76
Property Features for 3505 S Hawthorne Ave
General Information
- Standard status
- Active
- Size
- 3,552 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1973
Listing agency
Alpine Companies
Listed by
Jackson Dorhout · License #17300
Source
Crexi
Added: May 8 Updated: Jul 22 at 6:14PM Checked: Jul 22 at 6:14PM
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 Alpine Companies
Investment Insights
Based on property information with market context.
This turnkey 8-plex apartment building is offered fully leased. The property includes coin-operated laundry, detached garages, through-the-wall A/C units, and boiler heat. On-site parking is available, and the building is supported by utility reimbursement fees and a Ratio Utility Billing System (RUBS) already in place to help offset utility expenses.
The property is located at 3505 S Hawthorne Ave in Sioux Falls, SD 57105.
For prospective buyers and brokers, the combination of established occupancy, on-site revenue from coin-operated laundry, and in-place utility billing supports straightforward operating management.
The property is located at 3505 S Hawthorne Ave in Sioux Falls, SD 57105.
For prospective buyers and brokers, the combination of established occupancy, on-site revenue from coin-operated laundry, and in-place utility billing supports straightforward operating management.
Key Highlights
- Fully leased 8‑plex built in 1973
- Coin‑operated laundry on‑site for additional income
- Through‑the‑wall A/C units throughout
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 | $57.5k | $16.20 |
| − Vacancy | −$5.8k | −$1.64 |
| EGI | $51.7k | $14.56 |
| − OpEx | −$23.3k | −$6.55 |
| NOI | $28.4k | $8.01 |
3,552 SF · lease $16.20/SF/yr · vacancy 10.14% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$406.3K
$355.5K – $474.0K
NOI $28,439 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$964.5K
$844.0K – $1.13M
NOI $67,516 @ 7.0% cap · market cap 8.88%
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 - Fully leased 8-plex with coin-operated laundry, detached garages, through-the-wall A/C, boiler heat, and ample on-site parking.
Where is this apartment building located?
The property is located at 3505 S Hawthorne Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Fully leased 8‑plex built in 1973; Coin‑operated laundry on‑site for additional income; Through‑the‑wall A/C units throughout
