Renovated Triplex with Four-Stall
For Sale
$379,900
817 W 15th St, Sioux Falls, SD 57104
Fully occupied three-unit property with varied layouts and dedicated detached garage parking.
Property Size2,559 SF
Price / SF$148.46
Days on Market67
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 817 W 15th St
General Information
Standard status
Active
Size
2,559 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Hegg, Realtors
Listed By:
Amy Stockberger Real Estate
(605) 501-6622
Source:
Findahomeinsiouxfalls
Added: Aug 10
Changed: Oct 15
Last Checked: Oct 14 at 11:16PM
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
Investment Insights
Based on property information with market context.
This 2,559-square-foot triplex, built in 1930, includes three residential units with a varied bedroom configuration. The main-level and lower-level apartments each offer two bedrooms and one bathroom, while the upper unit provides one bedroom and one bathroom. The main-level unit has been recently renovated with updated windows, cabinets, flooring, paint, and trim. The building exterior has also been freshly painted.
A detached four-stall garage accompanies the property, providing one stall for each unit plus an additional stall for storage. The property is fully occupied and located at 817 W 15th St in Sioux Falls, South Dakota.
A detached four-stall garage accompanies the property, providing one stall for each unit plus an additional stall for storage. The property is fully occupied and located at 817 W 15th St in Sioux Falls, South Dakota.
Key Highlights
- Fully occupied triplex with 2,559 SF of building area
- Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Detached four‑stall garage with one stall assigned to each unit plus an extra stall
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,339
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,780
$446.8K
Cap Rate 7%
$319,129
$319.1K
Cap Rate 9%
$248,211
$248.2K
Market Conditions
NOI Build-Up for 2,559 SF
Gross rent
$35.3K $13.80/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$31.9K $12.47/SF
− OpEx
−$9.6K −$3.74/SF
NOI
$22.3K $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%
$446,780
Cap Rate 7%
$319,129
Cap Rate 9%
$248,211
Alternative Uses
Best Use
Multifamily LT 5
$319.1K
$279.2K – $372.3K
NOI $22,339 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$292.7K
$256.1K – $341.5K
NOI $20,489 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$694.9K
$608.0K – $810.7K
NOI $48,641 @ 7.0% cap · market cap 12.80%
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
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,869
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?
Triplex - Fully occupied three-unit property with varied layouts and dedicated detached garage parking.
Where is this triplex located?
The property is located at 817 W 15th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Fully occupied triplex with 2,559 SF of building area; Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Detached four‑stall garage with one stall assigned to each unit plus an extra stall
