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Morningside Lofts 1720 Morningside Ave 24 Unit Apartment Building $4,250,000 ($177,083/Unit) Sioux City, IA 51106
Executive Summary
Morningside Lofts, built in 2023, is a modern 24-unit apartment complex ideally located next to Morningside University. The property features six 3-bedroom, 2-bath units and eighteen 2-bedroom, 2-bath units, offering spacious layouts in a high demand rental market. With newer construction and remaining tax abatement, this is a rare opportunity to acquire a turnkey multifamily asset in one of Sioux City’s strongest rental locations. Financials available with a signed NDA
Property Facts
| Price | $4,250,000 | Building Class | B |
| Price Per Unit | $177,083 | Lot Size | 1.11 AC |
| Sale Type | Investment | Building Size | 26,850 SF |
| No. Units | 24 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2023 |
| Apartment Style | Low-Rise | ||
| Zoning | NC.5 | ||
| Price | $4,250,000 |
| Price Per Unit | $177,083 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.11 AC |
| Building Size | 26,850 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2023 |
| Zoning | NC.5 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 18 | - | 900 |
| 3+2 | 6 | - | 1,054 |
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Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 884706206021 | Improvements Assessment | $3,568,200 |
| Land Assessment | $228,000 | Total Assessment | $3,796,200 |
Property Taxes
Parcel Number
884706206021
Land Assessment
$228,000
Improvements Assessment
$3,568,200
Total Assessment
$3,796,200
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Morningside Lofts | 1720 Morningside Ave
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