Under-Construction
For Sale
$1,299,000
Pending
5000 E 54th St, Sioux Falls, SD 57110
MULTI-FAMILY, Sioux Falls, SD
Property Size9,878 SF
Lot Size0.45 Acres
Days on Market476
Property Features for 5000 E 54th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
12
Bathrooms
16
Full bathrooms
16
Rooms
Bedroom 4, Bathroom 1, Bathroom 7, Bathroom 13, Bathroom 10, Bedroom 6, Bedroom 7, Bedroom 11, Bathroom 9, Bedroom 3, Bathroom 6, Bathroom 14, Bathroom 16, Bedroom 5, Bathroom 15, Bedroom 1, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 8, Bedroom 2, Bathroom 11, Bedroom 10, Bedroom 12, Bedroom 9, Bathroom 12, Bathroom 8, Bathroom 5
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
BROOKS CROSSING ADDITION TO THE CITY OF SIOUX FALL
Elementary school
John Harris ES
Middle school
Ben REifel Middle School
High school
Washington HS
Elementary school district
Sioux Falls
Middle school district
SiouxFalls
High school district
SiouxFalls
Directions
West on E 57th towards S Sycamore Ave, turn right onto Sycamore Ave, turn right onto E 54th St
Standard status
Pending
APN
95131
Size
9,878 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Description
Lot 2D Block 1 Brooks Crossing Addition An Addn To The City Of Sioux Falls
Tax Annual Amount
10882
Legal Description
Lot 2D Block 1 Brooks Crossing Addition An Addn To The City Of Sioux Falls
Utilities
Sewer type
Public Sewer
Cooling system
Electric
Water source
Public
Building Details
Year built
2022
Floors in Building
3
Number of units
4
Building materials
HardiPlank Type, Stucco
Listing Agency:
Coldwell Banker Empire Realty · Coldwell Banker Real Estate
(605) 610-9848
Listed By:
Monica Pluim
(605) 201-5998
Added: Jun 27, 2025
Changed: Oct 15
Last Checked: Oct 15 at 12:06PM
MLS# 22505002
Copyright © 2026 Realtor Association of the Sioux Empire MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This under-construction quadplex contains four residences within a 9,878-square-foot property on 0.4496 acres. Each residence is planned with 3 bedrooms, 3.5 bathrooms, and a main-level den that can serve as office or flex space. Interior plans include open-concept kitchens, fireplaces, walkout patios, and second-story decks. Construction is approximately 50% complete, allowing final finishes to be selected for the remaining work.
The property is located in Southeast Sioux Falls, minutes from shopping, dining, and parks. Public water and public sewer serve the property. Planned appliances include dishwashers, microwaves, ranges, and refrigerators, while exterior materials include HardiPlank Type and stucco. Electric cooling is specified.
The property is located in Southeast Sioux Falls, minutes from shopping, dining, and parks. Public water and public sewer serve the property. Planned appliances include dishwashers, microwaves, ranges, and refrigerators, while exterior materials include HardiPlank Type and stucco. Electric cooling is specified.
Key Highlights
- Four‑unit property totaling 9,878 square feet
- 0.4496‑acre site in Southeast Sioux Falls
- Construction is 50% complete
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,232
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,724,640
$1.7M
Cap Rate 7%
$1,231,886
$1.2M
Cap Rate 9%
$958,133
$958.1K
Market Conditions
NOI Build-Up for 9,878 SF
Gross rent
$136.3K $13.80/SF
− Vacancy
−$13.1K −$1.33/SF
EGI
$123.2K $12.47/SF
− OpEx
−$37.0K −$3.74/SF
NOI
$86.2K $8.73/SF
Area
Sioux Falls, SD
Vacancy
9.63%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,724,640
Cap Rate 7%
$1,231,886
Cap Rate 9%
$958,133
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,232 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$1.13M
$988.6K – $1.32M
NOI $79,088 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,761 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four spacious residences feature three bedrooms, three-and-a-half bathrooms, and a main-level den for flexible use.
Where is this quadplex located?
The property is located at 5000 E 54th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Four‑unit property totaling 9,878 square feet; 0.4496‑acre site in Southeast Sioux Falls; Construction is 50% complete
