120 N Dakota St, Canton, SD 57013

Turnkey income property in Canton! This fully occupied triplex sits just off Highway 18 for an easy commute to Sioux Falls and the surrounding area. It frequently has long-term tenants and a history of staying full, with 100% occupancy and no delinquent rent payments. The unit mix is one 2 bed/1 bath and two 1 bed/1 bath units, including a large 1 bedroom. Current rents total $1,810/month ($21,720/year), and net operating income for the trailing 12 months was $13,887.80. That’s a 7.9% cap rate at list price. Current rents sit below comparable Canton rentals, so there’s an opportunity to adjust to market rents. A new owner could also switch to coin-operated laundry for additional income. Each unit has its own electric meter, paid by the tenants, and hot water baseboard heat. The property also has 3 off-street parking spaces, a large backyard, and a deck. A rent roll and income and expense summary are available. Don’t miss this opportunity to add a steady performer to your portfolio!