300 W 22nd St 4 Unit Apartment Building $380,000 ($95,000/Unit) 6.60% Cap Rate Sioux Falls, SD 57105

This fully leased 4-plex offers an attractive investment opportunity within Sioux Falls’ All Saints neighborhood. Positioned just south of downtown and within close proximity to major area institutions like Sanford USD Medical Center, Avera McKennan Hospital, Augustana University, and the University of Sioux Falls, this property is ideally located in a high-demand rental corridor.
The building features four 2-bedroom, 1-bath units, all under month-to-month leases, alongside amenities that include four garage stalls and a coin-operated laundry area on the lower level. Utility expenses such as water, gas, garbage, and common area electric are covered by the landlord, simplifying management responsibilities. Recent improvements include newer exterior paint and a water heater, adding maintenance convenience and positioning the asset for continued operational stability.
Offered at $380,000 with a pro forma cap rate of 6.60% and a net operating income of approximately $25,079, this investment provides solid returns backed by 100% occupancy. The All Saints neighborhood provides strong connectivity to major employers and local attractions, fostering consistent tenant demand and property appreciation potential over time.