505 Washington St Aberdeen, SD 57401-4308

Property Details for 505 Washington St

Property size

16,200 SF

Property type

Commercial real estate

APN

26751

APU

26751

Description

This exceptional 14-unit apartment building presents a compelling investment opportunity in Aberdeen, South Dakota. Located at 505 S Washington St, this two-story property, built in 1971, sits on a 0.32-acre lot and boasts a current occupancy rate of 100%, generating a substantial net operating income (NOI) of $109,678. The building comprises a mix of one- and two-bedroom units, complemented by two larger suites—one with four bedrooms and the other with five. This diverse unit mix caters to a broad range of tenants, ensuring consistent rental income. The property's strong performance is further enhanced by the convenience of off-street parking. The asking price for this turnkey investment is $1,285,000. This represents a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a stable market. The property's strong cash flow and high occupancy make it an attractive investment for both seasoned and new investors seeking a reliable income stream. Detailed financial statements are available upon request. This property is situated in Brown County, South Dakota, with the precise location coordinates being latitude 45.45961704412774 and longitude -98.48517386978949, and zip code 57401. The property offers a significant return on investment and is ready for immediate income generation.

Location Insight

City

Aberdeen

County

Brown

State

South Dakota

Longitude

-98.4849

Latitude

45.4598

CBSA code

10100

CBSA name

ABERDEEN, SD MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments