Current Use by Public Records
- Apartment buildings
Property Details for 1601 Main St
- Lot size
- 3.70 lot acres
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents a 45-unit apartment building situated on a spacious 3.7-acre lot in Aberdeen, South Dakota. Located at 1601 N Main St, this three-story building boasts a total of 80,772 square feet, offering a compelling price per square foot of $40.24 and a price per unit of $72,222.22. The property's unit mix includes one 2-bedroom unit, six 1-bedroom units, and thirty-eight 4-bedroom units, each featuring one bathroom. A significant advantage is the ample on-site parking, providing 175 spaces for residents. Adding to the building's appeal are community kitchens and recreation areas conveniently located on each floor. This property is situated on the former Presentation College campus in north Aberdeen, offering a desirable location and potential for strong rental income. The asking price for this substantial multifamily complex is $3,250,000. This presents a rare chance to acquire a well-maintained, high-occupancy apartment building in a growing area. The property's size, unit configuration, and ample parking make it an attractive investment for both seasoned and emerging real estate investors. The convenient location and existing amenities contribute to its strong potential for long-term profitability. This is a turnkey opportunity to acquire a significant multifamily asset in a desirable location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Aberdeen
- County
- Brown
- State
- South Dakota
- Longitude
- -98.488
- Latitude
- 45.4819
