12-Unit Two-Story Apartment
For Sale
$960,000
Pending
515-525 S COLLEGE ST, Sioux City, IA 51106
Fully occupied multifamily property with central air, laundry hookups, and on-site parking.
Property Size6,526 SF
Days on Market111
Property Features for 515-525 S COLLEGE ST
General Information
Standard status
Pending
Size
6,526 SF
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$66,748
Property Condition
Severity
Repairs Needed
Evidence
value-add runway
Units
Unit Mix
4 x 2BR/1BA, 8 x 1BR/1BA
Multifamily Units
12
Additional Details
Asking Price
$960,000
Amenities
on-site parking
washer/dryer hookups
central air
Building Details
Building Size
6,526 SF
Year Built
1976
Stories
2
Listing Agency:
Gateway Real Estate Advisors
Listed By:
Nic Madsen · License #S67281000
(712) 540-6562
Source:
Markhanson.kw
Added: Jul 1
Changed: Oct 9
Last Checked: Oct 16 at 5:45AM
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 Gateway Real Estate Advisors
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 two-story apartment property contains 12 units and was built in 1976. The unit mix includes four 2BR/1BA apartments and eight 1BR/1BA apartments, providing a blend of layouts within the building. Seven units have been updated, while five remain available for future improvements. Central air, washer/dryer hookups, and on-site parking serve the property.
The property is located at 515-525 S College St in Sioux City’s South Side area. Occupancy is reported at 100%, and the asset is offered as a multifamily investment with existing residential operations in place.
The property is located at 515-525 S College St in Sioux City’s South Side area. Occupancy is reported at 100%, and the asset is offered as a multifamily investment with existing residential operations in place.
Key Highlights
- 12‑unit apartment property built in 1976
- Unit mix includes four 2BR/1BA and eight 1BR/1BA units
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,828
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,560
$916.6K
Cap Rate 7%
$654,686
$654.7K
Cap Rate 9%
$509,200
$509.2K
Market Conditions
NOI Build-Up for 6,526 SF
Gross rent
$87.7K $13.44/SF
− Vacancy
−$4.4K −$0.67/SF
EGI
$83.3K $12.77/SF
− OpEx
−$37.5K −$5.75/SF
NOI
$45.8K $7.02/SF
Area
Woodbury County, IA
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,560
Cap Rate 7%
$654,686
Cap Rate 9%
$509,200
Alternative Uses
Best Use
Apartment 5plus
$654.7K
$572.9K – $763.8K
NOI $45,828 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$980.6K
$858.1K – $1.14M
NOI $68,645 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 51106, IA
28,655
Population
11,681
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
93%
High-School Grad
33.5 sq mi
ZIP Area
855
Density / Sq Mi
$74,486
Median Household Income
$40,495
Median Earnings
$1,080
Median Rent
$186,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with central air, laundry hookups, and on-site parking.
Where is this apartment building located?
The property is located at 515-525 S COLLEGE ST Sioux City, IA.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 12‑unit apartment property built in 1976; Unit mix includes four 2BR/1BA and eight 1BR/1BA units; 100% occupied
