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500-512 W 16th St
Sioux Falls, SD 57104
The Flats at Midtown · Multifamily Property For Sale
·
12 Units
Property Facts
| No. Units | 12 | Building Size | 10,118 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1962 |
| Building Class | C | Parking Ratio | 0.79/1,000 SF |
| Lot Size | 0.40 AC | ||
| Zoning | RA-1 | ||
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 10,118 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 0.79/1,000 SF |
| Zoning | RA-1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
About 500-512 W 16TH ST , SIOUX FALLS, SD 57104
Fully leased multifamily investment opportunity! 7.47 Cap Two 6 Plex buildings with five 2 bed / 1 bath units, two 1 bed / 1 bath units and five efficiencies Off street parking along with eight attached garage spaces The property was painted and had new roofs installed in 2010 Electricity is paid by the Tenant and gas is paid by the Landlord. The Buyer has the option to install gas meters and increase their bottom line! Landlord also pays water/sewer, trash, lawn care and snow removal. Landlord has started charging a $30 / month utility fee and plans to implement that fee upon each lease turnover Financials available with confidentiality agreement
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | - | - |
| 1+1 | 2 | - | - |
| Studios | 5 | - | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $688,500 | |
| Land Assessment | $61,500 | Total Assessment | $750,000 |
Property Taxes
Parcel Numbers
Land Assessment
$61,500
Improvements Assessment
$688,500
Total Assessment
$750,000
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