5-Unit Apartment
For Sale
$345,000
925 W 12th St, Sioux Falls, SD 57104
The two-story property is near colleges, hospitals, and downtown Sioux Falls.
Property Size2,818 SF
Price / SF$122.43
Days on Market38
Property Features for 925 W 12th St
General Information
Standard status
Active
Size
2,818 SF
Property subtype
Multi Family Home
Zoning
Not Verified
Site & Location
Neighborhood
Pettigrew Heights
Utilities to Site
Yes
Additional Details
Multifamily Units
5
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,669
Building Details
Building Size
2,818 SF
Year Built
1920
Buildings
1
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
Alpine Residential
(605) 607-7355
Listed By:
Jackson Dorhout
Source:
Landmarkrealtyandauction
Added: Sep 25
Changed: Oct 30
Last Checked: Oct 30 at 1:43AM
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 Alpine Residential
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story apartment building contains five units across 2,818 square feet. Built in 1920, it has received new flooring, paint, and light fixtures as units turned over during the past two years.
The property is in Sioux Falls near colleges, hospitals, and downtown. Tenants pay for electricity; the owner covers gas, trash, lawn care, snow removal, water, and sewer.
The property is in Sioux Falls near colleges, hospitals, and downtown. Tenants pay for electricity; the owner covers gas, trash, lawn care, snow removal, water, and sewer.
Key Highlights
- Five‑unit apartment building with two stories
- 2,818 square feet of building area
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,562
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,240
$451.2K
Cap Rate 7%
$322,314
$322.3K
Cap Rate 9%
$250,689
$250.7K
Market Conditions
NOI Build-Up for 2,818 SF
Gross rent
$45.7K $16.20/SF
− Vacancy
−$4.6K −$1.64/SF
EGI
$41.0K $14.56/SF
− OpEx
−$18.5K −$6.55/SF
NOI
$22.6K $8.01/SF
Area
Sioux Falls, SD
Vacancy
10.14%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,240
Cap Rate 7%
$322,314
Cap Rate 9%
$250,689
Alternative Uses
Best Use
Apartment 5plus
$322.3K
$282.0K – $376.0K
NOI $22,562 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$765.2K
$669.6K – $892.8K
NOI $53,565 @ 7.0% cap · market cap 15.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,912
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
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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 - The two-story property is near colleges, hospitals, and downtown Sioux Falls.
Where is this apartment building located?
The property is located at 925 W 12th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Five‑unit apartment building with two stories; 2,818 square feet of building area; Built in 1920
