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Maple Heights & Annex Apartment Complex 5300 Stone Ave 70 Unit Apartment Building $4,650,000 ($66,429/Unit) 5% Cap Rate Sioux City, IA 51106
INVESTMENT HIGHLIGHTS
- Great Location, Beautiful Grounds
- Assumable PRAC Financing
- Mere Minutes from Shopping, Grocery and Entertainment
EXECUTIVE SUMMARY
The Maple Heights Apartments and Maple Heights Annex sits a top Stone Blvd and overlooks the beautiful Sunrise Retirement Home Campus. You’ll be hard pressed to find apartment views as beautiful as these. With easy access to Gordon Drive and Hwy 20, this complex is mere minutes away from shopping, groceries and entertainment. This property is a HUD apartment complex for 62 years & older and includes two parcels 894736452014 and 894736452015 for a total of 70 apartment units on 2.83 acres. Maple Heights, the larger section was built in 1985 with a total of 50 apartments (15 - efficiency & 35 – 1B 1B). The Annex, the smaller section was built in 1998, to include 20 apartments (19- 1B 1B & 1- 2B 1B). Each unit has AC and a Pull Cord Call System. Resident amenities to include laundry, controlled access and outside patio. The price boosts a 5% ROI, with assumable PRAC Financing. Financials available with a signed CA.
PROPERTY FACTS
| Price | $4,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $66,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.79 AC |
| Cap Rate | 5% | Building Size | 83,000 SF |
| No. Units | 70 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1985 |
| Price | $4,650,000 |
| Price Per Unit | $66,429 |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 70 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.79 AC |
| Building Size | 83,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1985 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 15 | - | 425 |
| 1+1 | 54 | - | 500 |
| 2+1 | 1 | - | - |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $4,219,600 | |
| Land Assessment | $560,000 | Total Assessment | $4,779,600 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$560,000
Improvements Assessment
$4,219,600
Total Assessment
$4,779,600
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
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Maple Heights & Annex Apartment Complex | 5300 Stone Ave
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