32-Unit Apartment
4800 W 41st St, Sioux Falls, SD 57106
For Sale
$2,750,000
Eight separate buildings offer consistent two-bedroom, one-bathroom apartment layouts.
Property Size28,288 SF
Price / SF$97.21
Days on Market133
Property Features for 4800 W 41st St
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Site & Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Hegg, REALTORS
(605) 336-2100
Listed By:
David Maske
Source:
Davedaale
Added: Jul 1
Changed: Nov 8
Last Checked: Nov 10 at 3:53PM
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 Hegg, REALTORS
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property comprises 32 apartments across eight buildings, with four units in each. Every apartment has two bedrooms and one bathroom. The buildings date to 1971, and the property is zoned RA 2.
Located on 41st Street in Sioux Falls, the property has frontage on a primary arterial roadway and convenient access to Interstate 29. Employers, retail, dining, and other city conveniences are nearby.
Occupancy is approximately 90–95%, providing an established operating base across the apartment community.
Located on 41st Street in Sioux Falls, the property has frontage on a primary arterial roadway and convenient access to Interstate 29. Employers, retail, dining, and other city conveniences are nearby.
Occupancy is approximately 90–95%, providing an established operating base across the apartment community.
Key Highlights
- 32 apartments in eight four‑unit buildings
- All units have two bedrooms and one bathroom
- Approximately 90–95% occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,489
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,529,780
$4.5M
Cap Rate 7%
$3,235,557
$3.2M
Cap Rate 9%
$2,516,544
$2.5M
Market Conditions
NOI Build-Up for 28,288 SF
Gross rent
$458.3K $16.20/SF
− Vacancy
−$46.5K −$1.64/SF
EGI
$411.8K $14.56/SF
− OpEx
−$185.3K −$6.55/SF
NOI
$226.5K $8.01/SF
Area
Sioux Falls, SD
Vacancy
10.14%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,529,780
Cap Rate 7%
$3,235,557
Cap Rate 9%
$2,516,544
Alternative Uses
Best Use
Apartment 5plus
$3.24M
$2.83M – $3.77M
NOI $226,489 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.68M
$6.72M – $8.96M
NOI $537,698 @ 7.0% cap · market cap 19.55%
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
32
Residential units
95%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
Explore this area
Business Placement
Demographics for 57106, SD
47,877
Population
21,722
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
93%
High-School Grad
30.3 sq mi
ZIP Area
1,580
Density / Sq Mi
$77,070
Median Household Income
$47,554
Median Earnings
$996
Median Rent
$268,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Apartment buildings in Sioux Falls
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight separate buildings offer consistent two-bedroom, one-bathroom apartment layouts.
Where is this apartment building located?
The property is located at 4800 W 41st St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 32 apartments in eight four‑unit buildings; All units have two bedrooms and one bathroom; Approximately 90–95% occupancy
