Townhome-Style Multifamily
For Sale
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4601 East 3rd Street, Sioux Falls, SD 57110
Two-story rental community with private entrances, eat-in kitchens, patios or yards, and detached single-stall garages.
Property SizeContact for details
Days on Market63
Property Features for 4601 East 3rd Street
General Information
Standard status
Active
Property subtype
Multifamily
Investment Type
Stabilized
Net Operating Income
$257,175
Building Details
Year Built
1994
Year Renovated
2022
Buildings
8
Stories
2
Units
48
Tenancy
Multi
Listing Agency:
Bender Commercial
(605) 681-8351
Listed By:
Alex Soundy · License #SD 18022
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 11 at 8:21AM
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 Bender Commercial
Investment Insights
Based on property information with market context.
This two-story residential income property is built around a townhome configuration with private entrances for each unit. The layouts are family-oriented and include central heat and air, eat-in kitchens, and walk-in closets. Many units also feature patios or yards that support private outdoor space. Detached single-stall garages are included with rent, helping reduce parking friction for residents.
The community is situated on the east side of Sioux Falls near Washington High School, in an established residential setting. This location supports renter demand from local households seeking a more private, suburban-style living environment.
With 41 of 48 units updated since 2021, the property offers a meaningful portion of renovated interiors within a consistent townhome-style rental product. For tenants, the combination of private entrances, in-unit comfort provided by central heat and air, and attached-by-routine convenience of a detached garage can make day-to-day living more functional. For buyers and operators, the mix of updated units and lower-turnover townhome configuration can help support a more stable rental profile versus traditional apartment layouts, while maintaining a coherent community design throughout the property.
The community is situated on the east side of Sioux Falls near Washington High School, in an established residential setting. This location supports renter demand from local households seeking a more private, suburban-style living environment.
With 41 of 48 units updated since 2021, the property offers a meaningful portion of renovated interiors within a consistent townhome-style rental product. For tenants, the combination of private entrances, in-unit comfort provided by central heat and air, and attached-by-routine convenience of a detached garage can make day-to-day living more functional. For buyers and operators, the mix of updated units and lower-turnover townhome configuration can help support a more stable rental profile versus traditional apartment layouts, while maintaining a coherent community design throughout the property.
Key Highlights
- Built in 1994, two‑story rental community with private entrances and family‑oriented layouts
- Unit features include central heat and air, eat‑in kitchens, walk‑in closets, and patios or yards
- Detached single‑stall garages included with rent to help reduce parking friction for tenants
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
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Business Placement
Demographics for 57110, SD
22,013
Population
9,178
Households
2.4
Avg Household Size
35
Median Age
43%
College-Educated
92%
High-School Grad
20.9 sq mi
ZIP Area
1,053
Density / Sq Mi
$87,114
Median Household Income
$52,202
Median Earnings
$1,018
Median Rent
$365,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story rental community with private entrances, eat-in kitchens, patios or yards, and detached single-stall garages.
Where is this apartment building located?
The property is located at 4601 East 3rd Street Sioux Falls, SD.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: Built in 1994, two‑story rental community with private entrances and family‑oriented layouts; Unit features include central heat and air, eat‑in kitchens, walk‑in closets, and patios or yards; Detached single‑stall garages included with rent to help reduce parking friction for tenants
