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Heritage High Apartments 210 W Center St 31 Unit Apartment Building $2,500,000 ($80,645/Unit) 7.47% Cap Rate Madison, SD 57042
INVESTMENT HIGHLIGHTS
- Former Madison High School that was converted to multifamily
- Stable tenant mix with most tenants being over 55 years old
- One large underground garage with 31 stalls
- Institutional quality solid construction
PROPERTY FACTS
| Price | $2,500,000 | Building Class | B |
| Price Per Unit | $80,645 | Lot Size | 0.74 AC |
| Sale Type | Investment | Building Size | 32,000 SF |
| Cap Rate | 7.47% | No. Stories | 2 |
| No. Units | 31 | Year Built | 2020 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | Parcel Number | 21040-00500-090-10 |
| Apartment Style | Low-Rise |
| Price | $2,500,000 |
| Price Per Unit | $80,645 |
| Sale Type | Investment |
| Cap Rate | 7.47% |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.74 AC |
| Building Size | 32,000 SF |
| No. Stories | 2 |
| Year Built | 2020 |
| Opportunity Zone |
Yes |
| Parcel Number | 21040-00500-090-10 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 2+1 | 24 | - | - |
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Heritage High Apartments | 210 W Center St
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