1600 Nebraska St Sioux City, IA 51105
- Commercial real estate
- 2,680 SF
- 0.15 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1600 Nebraska St
- Year built
- 1910
- Lot size
- 0.15 lot acres
- Property size
- 2,680 SF
- Property type
- Commercial real estate
- APN
- 894721377006
Description
Exceptional investment opportunity in Sioux City, Iowa! This meticulously renovated 5-unit apartment building at 1600 Nebraska St boasts a strong 9.05% capitalization rate and a current 100% occupancy. The property, situated on a 0.15-acre lot (APN 894721377006), comprises a four-plex and a separate studio apartment, all fully renovated in 2020. Upgrades include new flooring, kitchens, bathrooms, plumbing, electrical systems, water heaters, and furnaces. Further enhancing the property's value, the roof was replaced in 2020 and all windows were replaced in 2019. The building, constructed in 1910 and featuring two stories, offers 2,680 square feet of living space, priced at $103 per square foot. The asking price is $250,000, with a net operating income (NOI) of $25,329.05. Tenants are responsible for MidAmerican energy costs, while the landlord covers water and sewer expenses. The property is zoned NC.5 and presents a compelling opportunity for a savvy investor seeking a high-return, low-maintenance multifamily asset in a desirable location. This turnkey property is ready for immediate income generation.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sioux City
- County
- Woodbury
- State
- Iowa
- Longitude
- -96.4032419
- Latitude
- 42.5073121
