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Fairlane Apartments 1940-1990 Wisconsin SW 46 Unit Apartment Building $2,400,000 ($52,174/Unit) 8.02% Cap Rate Huron, SD 57350
EXECUTIVE SUMMARY
Six two-story buildings with garden view. New siding in June 2022. Asphalt both parking lots in May 2022. Boiler heat and window air conditioning. All utilities included in rent except cable and internet.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$387,600
|
$13.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$19,380
|
$0.67
|
| Effective Gross Income |
$368,220
|
$12.67
|
| Taxes |
$12,300
|
$0.42
|
| Operating Expenses |
$163,504
|
$5.63
|
| Total Expenses |
$175,804
|
$6.05
|
| Net Operating Income |
$192,416
|
$6.62
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $387,600 |
| Annual Per SF | $13.34 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $19,380 |
| Annual Per SF | $0.67 |
| Effective Gross Income | |
|---|---|
| Annual | $368,220 |
| Annual Per SF | $12.67 |
| Taxes | |
|---|---|
| Annual | $12,300 |
| Annual Per SF | $0.42 |
| Operating Expenses | |
|---|---|
| Annual | $163,504 |
| Annual Per SF | $5.63 |
| Total Expenses | |
|---|---|
| Annual | $175,804 |
| Annual Per SF | $6.05 |
| Net Operating Income | |
|---|---|
| Annual | $192,416 |
| Annual Per SF | $6.62 |
PROPERTY FACTS
| Price | $2,400,000 | Apartment Style | Garden |
| Price Per Unit | $52,174 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.00 AC |
| Cap Rate | 8.02% | Building Size | 21,921 SF |
| No. Units | 46 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | Residential | ||
| Price | $2,400,000 |
| Price Per Unit | $52,174 |
| Sale Type | Investment |
| Cap Rate | 8.02% |
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 21,921 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Opportunity Zone |
Yes |
| Zoning | Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 11 | $612.50 | 455 |
| 1+1 | 33 | $675.00 | 500 |
| 2+2 | 2 | $1,000 | 900 - 955 |
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PROPERTY TAXES
| Parcel Number | 11025 | Total Assessment | $120,967 |
| Land Assessment | $15,750 | Annual Taxes | $12,300 ($0.56/SF) |
| Improvements Assessment | $105,217 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
11025
Land Assessment
$15,750
Improvements Assessment
$105,217
Total Assessment
$120,967
Annual Taxes
$12,300 ($0.56/SF)
Tax Year
2025
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Fairlane Apartments | 1940-1990 Wisconsin SW
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