Modern Multifamily Community in Sioux
950 N Cliff Ave, Sioux Falls, SD 57103
179-unit apartment complex in Sioux Falls, South Dakota.
Type:Multifamily
Property size:
215,169 SFLot size:
11.26 AcresPrice / SF:
$131/SF- Added:
- Jan 30, 2026
- Days on Market:
- 106
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 950 N Cliff Ave
General Information
- Standard status
- Active
- Size
- 215,169 SF
- Lot size
- 11.26 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 2016
Listing agent Brad Stearns License #15071
Listing office 605 Real Estate
Listing date Jan 30, 2026
Source Crexi
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 605 Real Estate
HighLights
- Strong In‑Place Cash Flow: Operates with positive cash flow, providing immediate returns.
- High Occupancy Rate: 91.6% occupancy as of December 1, 2025, indicating strong demand.
- Newer Construction: Built in 2016, offering modern construction and minimal deferred maintenance.
- Flexible Acquisition: Available individually or as part of a larger 716‑unit portfolio.
- Desirable Unit Mix: Features a mix of one-, two-, and three‑bedroom units appealing to a broad renter base.
- Prime Location: Proximity to major employment, retail, healthcare, and recreational amenities in Sioux Falls.
Overview
Hidden Hills Apartments, located at 950, 960, and 970 N Cliff Avenue in Sioux Falls, South Dakota, is a Class B, garden-style multifamily community. Constructed in 2016, the property comprises 179 units, featuring one-, two-, and three-bedroom layouts, distributed across three three-story residential buildings. The buildings are situated on an approximately 11.26-acre site. The community offers modern construction and efficient layouts, appealing to the growing renter base in Sioux Falls. Units feature contemporary finishes. Parking includes surface spaces and detached garages, providing resident convenience and additional income. The property benefits from its location near major employment centers, retail options, healthcare facilities, and recreational amenities, while maintaining a quiet, residential environment. As of December 1, 2025, the property is 91.6% occupied and operates with strong in-place cash flow. The property's zoning supports continued multifamily use. The total property size is 215169 square feet. Hidden Hills may be acquired individually or as part of a larger 716-unit multifamily portfolio.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$19.14M
NOI $1,722,756 @ 9.00% cap · cautious / downside scenario
Moderate
$24.61M
NOI $1,722,756 @ 7.00% cap · market / base-case scenario
Aggressive
$34.46M
NOI $1,722,756 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $3.49M | $16.20 |
| − Vacancy | −$353.5k | −$1.64 |
| EGI | $3.13M | $14.56 |
| − OpEx | −$1.41M | −$6.55 |
| NOI | $1.72M | $8.01 |
215,169 SF · lease $16.20/SF/yr · vacancy 10.14% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$24.61M
$21.53M – $28.71M
NOI $1,722,756 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$58.43M
$51.12M – $68.17M
NOI $4,089,932 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Hidden Hills Apartments
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Sioux Falls
- County
- Lincoln
- State
- South Dakota
- Longitude
- -96.7094126
- Latitude
- 43.5585625
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 179-unit apartment complex in Sioux Falls, South Dakota.
Where is this apartment building located?
The property is located at 950 N Cliff Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $28,200,000.
What are key features of this property?
This property features: Strong In‑Place Cash Flow: Operates with positive cash flow, providing immediate returns.; High Occupancy Rate: 91.6% occupancy as of December 1, 2025, indicating strong demand.; Newer Construction: Built in 2016, offering modern construction and minimal deferred maintenance.
