Sioux City Studio Apartment
923 Douglas Street, Sioux City, IA 51105
Studio apartments near downtown Sioux City with assumable loan.
Type:Multifamily
Property size:
18,032 SFLot size:
0.34 AcresPrice / SF:
$81/SF- Added:
- Mar 25, 2026
- Days on Market:
- 71
- Last Refresh:
- Mar 18 at 8:45 am
Property Features for 923 Douglas Street
General Information
- Standard status
- Active
- Size
- 18,032 SF
- Lot size
- 0.34 Acres
- Property subtype
- Multifamily
Listing agent Mark Seger
Listing office
Listing date Mar 25, 2026
Source Cbre
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 Mark Seger
HighLights
- 3.6% assumable loan with 4 years left
- 64% of units have been renovated over the last three years
- Located near downtown Sioux City close to many amenities and services
- Dedicated 24‑car parking with additional street parking
- Roof is under 10 years old
- Recent upgrades to boiler
Overview
This property consists of studio units with an average size of 415 square feet. Sixty-four percent of the units have been renovated over the last three years. The building, constructed in 1925, has a total size of 18,032 square feet. A recent upgrade has been made to the boiler, and the roof is under 10 years old. A dedicated laundry room is available. The property includes a 24-car parking lot with additional street parking. The property is located near downtown Sioux City, close to many amenities and services. The zoning is NC-5, allowing for single- and multi-family use. The legal description is SIOUX CITY EAST LOT 12 BLK 49. The 2023 taxes were $21,374. An assumable loan at 3.6% with 4 years remaining is available.
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 | $242.4k | $13.44 |
| − Vacancy | −$12.1k | −$0.67 |
| EGI | $230.2k | $12.77 |
| − OpEx | −$103.6k | −$5.75 |
| NOI | $126.6k | $7.02 |
18,032 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.81M
$1.58M – $2.11M
NOI $126,628 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.71M
$2.37M – $3.16M
NOI $189,674 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Sioux City
- County
- Woodbury
- State
- Iowa
- Longitude
- -96.406877
- Latitude
- 42.500519
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Studio apartments near downtown Sioux City with assumable loan.
Where is this apartment building located?
The property is located at 923 Douglas Street Sioux City, IA.
What is the asking price?
The asking price for this property is $1,461,500.
What are key features of this property?
This property features: 3.6% assumable loan with 4 years left; 64% of units have been renovated over the last three years; Located near downtown Sioux City close to many amenities and services
