9-Unit Apartment Building with
For Sale
$780,000
703 S Dakota Ave, Sioux Falls, SD 57104
Eight two-bedroom units and one one-bedroom unit create a varied residential rental mix.
Property Size5,248 SF
Price / SF$148.63
Days on Market128
Property Features for 703 S Dakota Ave
General Information
Standard status
Active
Size
5,248 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
all Saints
Units
Unit Mix
8 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
9
Amenities
coin-operated laundry
window air conditioning
Building Details
Year Built
1977
Buildings
1
Listing Agency:
Keller Williams Realty Sioux Falls
Listed By:
Amber Ellingsen · License #15778
(605) 360-6707
Source:
Siouxfallsareahomesearch
Added: Jun 19
Changed: Oct 1
Last Checked: Oct 23 at 7:18AM
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 Keller Williams Realty Sioux Falls
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 9-unit apartment property contains eight 2-bedroom, 1-bath residences and one 1-bedroom, 1-bath residence within 5,248 square feet. Individual units include dining areas adjoining the kitchens, large windows, substantial closet and storage space, and window air conditioning. Several apartments have been remodeled, while property improvements include new siding, security doors, and cement work.
Residents have access to coin-operated laundry in the lower level, a 7-stall detached garage, and off-street parking. Built in 1977, the property is located at 703 S Dakota Ave in Sioux Falls, near downtown and close to shopping, dining, entertainment, and schools.
Residents have access to coin-operated laundry in the lower level, a 7-stall detached garage, and off-street parking. Built in 1977, the property is located at 703 S Dakota Ave in Sioux Falls, near downtown and close to shopping, dining, entertainment, and schools.
Key Highlights
- 9 units with eight 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- 5,248 square feet; built in 1977
- Several remodeled apartments plus new siding, security doors, and cement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,018
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$840,360
$840.4K
Cap Rate 7%
$600,257
$600.3K
Cap Rate 9%
$466,867
$466.9K
Market Conditions
NOI Build-Up for 5,248 SF
Gross rent
$85.0K $16.20/SF
− Vacancy
−$8.6K −$1.64/SF
EGI
$76.4K $14.56/SF
− OpEx
−$34.4K −$6.55/SF
NOI
$42.0K $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%
$840,360
Cap Rate 7%
$600,257
Cap Rate 9%
$466,867
Alternative Uses
Best Use
Apartment 5plus
$600.3K
$525.2K – $700.3K
NOI $42,018 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,754 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,795
Businesses Nearby
Explore this area
Business Placement
Demographics for 57104, SD
26,998
Population
13,952
Households
1.9
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
30.4 sq mi
ZIP Area
888
Density / Sq Mi
$59,161
Median Household Income
$39,101
Median Earnings
$849
Median Rent
$183,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-bedroom units and one one-bedroom unit create a varied residential rental mix.
Where is this apartment building located?
The property is located at 703 S Dakota Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 9 units with eight 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; 5,248 square feet; built in 1977; Several remodeled apartments plus new siding, security doors, and cement
