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Lawler Apartments 312 N Lawler St 26 Unit Apartment Building $1,850,000 ($71,154/Unit) 6.80% Cap Rate Mitchell, SD 57301
Investment Highlights
- Downtown location with walkable access to local amenities and employers
- Historic brick construction built in 1905
- Diversified revenue from residential, commercial, and ancillary income sources
Executive Summary
The 312 N Lawler Apartments presents an opportunity to acquire a stabilized mixed-use asset in the downtown core of Mitchell, South Dakota. The property consists of 23 apartment units and 3 commercial suites, offering diversified income streams and consistent in-place cash flow, with additional upside through operational efficiencies and targeted improvements
Property Facts
Amenities
Unit Amenities
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Freezer
- Smoke Free
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 500 - 1,300 |
| Studios | 9 | - | 500 |
| 1+1 | 12 | - | 725 - 750 |
| 2+2 | 2 | - | 1,200 |
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Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 15520-00100-007-00 | Improvements Assessment | $822,544 |
| Land Assessment | $42,600 | Total Assessment | $865,144 |
Property Taxes
Parcel Number
15520-00100-007-00
Land Assessment
$42,600
Improvements Assessment
$822,544
Total Assessment
$865,144
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Lawler Apartments | 312 N Lawler St