Listed By: Joe Prins · License #20881 Show Phone

Source: Expcommercial

Added: Jun 16, 2024 Changed: Aug 29 Last Checked: Sep 4 at 2:04AM

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Investment Insights

Based on property information with market context.

This 5-unit apartment property is fully occupied and has received multiple recent improvements. Work includes a new roof, replacement decks, fresh exterior paint, new interior paint, and new flooring in most units. The property is located at 400 1st St in Florence, South Dakota.

The offering reports 100% occupancy and a 10% cap rate. The combination of completed building updates and stabilized occupancy provides a straightforward multifamily profile for an investor evaluating an apartment asset.

Key Highlights

• 5‑unit apartment property at 400 1st St, Florence, SD 57235
• 100% occupancy rate
• 10% cap rate

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Storage Facility Accounting Firm Nursing Home Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

23

Businesses Nearby

Explore this area Business Placement

Demographics for 57235, SD

830

Population

328

Households

2.5

Avg Household Size

41

Median Age

19%

College-Educated

97%

High-School Grad

131.7 sq mi

ZIP Area

6

Density / Sq Mi

$80,938

Median Household Income

$42,431

Median Earnings

$775

Median Rent

$224,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Apartment building - Recently improved multifamily property with full occupancy and updates across exterior and interior components.

Where is this apartment building located?

The property is located at 400 1st St Florence, SD.

What is the asking price?

The asking price for this property is $215,000.

What are key features of this property?

This property features: 5‑unit apartment property at 400 1st St, Florence, SD 57235; 100% occupancy rate; 10% cap rate