5300 Stone Ave Sioux City, IA 51106-2003

This exceptional investment opportunity presents a 70-unit HUD apartment complex located at 5300 Stone Ave, Sioux City, Iowa, in Woodbury County, zip code 51106. The property, encompassing two buildings on a 2.83-acre lot, boasts a total of 50,756 square feet. Built in 1985 and 1998, the complex comprises the main Maple Heights building (50 units: 15 efficiencies and 35 one-bedroom, one-bathroom units) and the Maple Heights Annex (20 units: 19 one-bedroom, one-bathroom units and 1 two-bedroom, one-bathroom unit). All 70 units are currently 100% occupied. The complex is situated on Stone Blvd, overlooking the Sunrise Retirement Home Campus, offering residents beautiful views. Its convenient location provides easy access to Gordon Drive and Highway 20, placing residents minutes from shopping, groceries, and entertainment. Each unit features air conditioning and a pull-cord call system. Resident amenities include laundry facilities, controlled access, and outdoor patios. The asking price is $4,650,000, offering a projected 5% ROI with assumable PRAC financing. Detailed financial information is available upon request with a Confidentiality Agreement. The property includes two parcels: 894736452014 and 894736452015. This is a three-story building. This is a special purpose property consisting of commercial land.