Renovated 5-Unit Rental
For Sale
Contact for pricing
1600 Nebraska St, Sioux City, IA 51105
Fully renovated 5-unit rental property with recent upgrades.
Property Size2,680 SF
Price / SF$91.42
Days on Market1349
Property Features for 1600 Nebraska St
General Information
Standard status
Active
Size
2,680 SF
Property subtype
Multifamily
Zoning
NC.5
Occupancy
100%
Net Operating Income
$25,329
Building Details
Year Built
1910
Year Renovated
2020
Stories
2
Units
5
Listing Agency:
NAI United
Listed By:
Nathan Connelly · License #IA S62387000
(712) 224-2727
Source:
Crexi
Added: Feb 8, 2023
Changed: Oct 3
Last Checked: Oct 16 at 9:19AM
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 NAI United
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Investment Insights
Based on property information with market context.
This property features a 4-plex and a stand-alone studio apartment-style home, totaling five units. All units have been fully renovated, including floors, kitchens, and bathrooms. The property benefits from new plumbing, electrical systems, water heaters, and furnaces. The roof was replaced in 2020, and all windows were replaced in 2019. Tenants are responsible for MidAmerican utilities. The landlord is responsible for water and sewer services. The property size is 2680 square feet.
Key Highlights
- Fully renovated units featuring updated floors, kitchens, and bathrooms
- Includes a 4‑plex and a separate studio apartment
- New plumbing, electrical, water heaters, and furnaces installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,820
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,400
$376.4K
Cap Rate 7%
$268,857
$268.9K
Cap Rate 9%
$209,111
$209.1K
Market Conditions
NOI Build-Up for 2,680 SF
Gross rent
$36.0K $13.44/SF
− Vacancy
−$1.8K −$0.67/SF
EGI
$34.2K $12.77/SF
− OpEx
−$15.4K −$5.75/SF
NOI
$18.8K $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%
$376,400
Cap Rate 7%
$268,857
Cap Rate 9%
$209,111
Alternative Uses
Best Use
Apartment 5plus
$268.9K
$235.3K – $313.7K
NOI $18,820 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$402.7K
$352.4K – $469.8K
NOI $28,190 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 51105, IA
10,565
Population
4,197
Households
2.5
Avg Household Size
31
Median Age
7%
College-Educated
64%
High-School Grad
6.0 sq mi
ZIP Area
1,761
Density / Sq Mi
$46,940
Median Household Income
$33,152
Median Earnings
$855
Median Rent
$84,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 5-unit rental property with recent upgrades.
Where is this apartment building located?
The property is located at 1600 Nebraska St Sioux City, IA.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Fully renovated units featuring updated floors, kitchens, and bathrooms; Includes a 4‑plex and a separate studio apartment; New plumbing, electrical, water heaters, and furnaces installed
