Renovated 5-Unit Rental
1600 Nebraska St Sioux City, IA 51105
1600 Nebraska St, Sioux City, IA, 51105
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For Sale
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Fully renovated 5-unit rental property with recent upgrades.
Property Size2,680 SF
Price / SF$91.42
Days on Market1259
Property Features for 1600 Nebraska St
General Information
- Standard status
- Active
- Size
- 2,680 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1910
Listing Agency
NAI United
(712) 224-2727
Listed by
Nathan Connelly · License #IA S62387000
Source
Crexi
Added: Feb 8, 2023 Updated: Jul 6 at 8:33 am Checked: Jul 19 at 8:25 am
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
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.0k | $13.44 |
| − Vacancy | −$1.8k | −$0.67 |
| EGI | $34.2k | $12.77 |
| − OpEx | −$15.4k | −$5.75 |
| NOI | $18.8k | $7.02 |
2,680 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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
