The Flats at Midtown

500 - 512 W 16th St Sioux Falls , SD 57104

For Sale

Property Description

* Fully leased multifamily investment opportunity!
* 7.16 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

Information

  • Address:500 - 512 W 16th St, Sioux Falls, SD 57104
  • Min Size:10118 Sq.Ft
  • Max Size:10118 Sq.Ft
  • Sale Price: $ 625,000.00
  • Taxes:$ 8,558.00
  • Zoning:RA-1
  • Current Use:Multi-family
  • Floor :
  • Parking :On-site, Garage, Street
  • Bathroom :In-suite
  • Amenities : Investment Opportunity
  • Marketing Flyer