316 E 15th St, Sioux Falls, SD 57104

Turnkey 9-Unit Near Downtown Sioux Falls | ~7.8% Cap | $60K/Unit Extensively renovated and fully occupied, this 9-unit apartment building offers stable, low-maintenance cash flow in one of Sioux Falls’ most convenient and steadily improving pockets. Located just one block south of Sunshine Foods and minutes from downtown, major employers, hospitals, and core amenities, this is true workforce housing in a location tenants consistently choose. The two-story property features nine 1-bed / 1-bath units that have been comprehensively updated—inside and out—covering both cosmetic improvements and key capital items. Durable finishes, clean layouts, and efficient unit sizes make the property easy to operate and consistently rentable. At roughly $60,000 per unit and performing at an approximate 7.78% cap, this asset offers a combination that is increasingly difficult to find: modernized condition, strong occupancy, and a price point that still allows for real yield. Landlord pays water,...