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    1600 Nebraska St Sioux City, IA 51105

    Sponsored
    For Sale
    $250,000

    Five-unit apartment building, high cap rate.

    Property size:
    2,680 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Exceptional investment opportunity in Sioux City, Iowa! This meticulously renovated 5-unit apartment building at 1600 Nebraska St boasts a strong 9.05% capitalization rate and a current 100% occupancy. The property, situated on a 0.15-acre lot (APN 894721377006), comprises a four-plex and a separate studio apartment, all fully renovated in 2020. Upgrades include new flooring, kitchens, bathrooms, plumbing, electrical systems, water heaters, and furnaces. Further enhancing the property's value, the roof was replaced in 2020 and all windows were replaced in 2019. The building, constructed in 1910 and featuring two stories, offers 2,680 square feet of living space, priced at $103 per square foot. The asking price is $250,000, with a net operating income (NOI) of $25,329.05. Tenants are responsible for MidAmerican energy costs, while the landlord covers water and sewer expenses. The property is zoned NC.5 and presents a compelling opportunity for a savvy investor seeking a high-return, low-maintenance multifamily asset in a desirable location. This turnkey property is ready for immediate income generation.

    Property Features for 1600 Nebraska St

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,680 SF
    Lot Size
    6,534 SF

    Building Details

    Year Built/Renovated
    1910/2020
    Stories
    2
    Units
    5

    HighLights

    • Exceptional investment opportunity: 5‑unit apartment building in Sioux City, IA with a 9.05% cap rate and 100% occupancy.
    • Fully renovated in 2020, including new kitchens, baths, and mechanicals.
    • 2,680 sq ft on a 0.15‑acre lot (APN 894721377006), priced at $250,000 ($103/sq ft).
    • Strong NOI of $25,329.05.
    • Zoned NC.5.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sioux City
    County
    Woodbury
    State
    Iowa
    Longitude
    -96.4032419
    Latitude
    42.5073121

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, high cap rate.
    Where is this multifamily property located?
    The property is located at 1600 Nebraska St Sioux City, IA.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 5-unit apartment building in Sioux City, IA with a 9.05% cap rate and 100% occupancy.; Fully renovated in 2020, including new kitchens, baths, and mechanicals.; 2,680 sq ft on a 0.15-acre lot (APN 894721377006), priced at $250,000 ($103/sq ft).
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    Sioux City, IA 51105
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1600 Nebraska St Sioux City, IA 51105
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