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Green View Apartments 1351 Iowa Ave SE

28 Unit Block of Flats £1,721,390 (£61,478/Unit) 7.01% Net Initial Yield Huron, SD 57350

Investment Highlights

  • 24 of 28 units completed and rented
  • Tight rental market with near-zero vacancy
  • 4 remaining units to be completely year-end 2024

Executive Summary

Redeveloped 28-unit multi-family apartment complex in tight rental market. 24 units (4 of 5 buildings) have been completed and are 100% occupied. Remaining building with 4 units will be completed by December 31, 2024. Unit mix is 24 one-bedroom units and 4 two-bedroom units. Renovations include removal of boilers and installation of new HVAC, new flooring, new appliances, new windows, updated electrical & plumbing, and new tenants. Creative financing options available!

Financial Summary (Pro forma - 2025) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2025) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £1,721,390 Apartment Style Garden
Price Per Unit £61,478 Building Class C
Sale Type Investment Lot Size 0.81 AC
Net Initial Yield 7.01% Building Size 30,094 SF
Gross Rent Multiplier 8.62 Average Occupancy 86%
No. Units 28 Number of Floors 3
Property Type Residential Year Built/Renovated 1970/2024
Property Subtype Apartment Parking Ratio 1.5/1,000 SF
Price £1,721,390
Price Per Unit £61,478
Sale Type Investment
Net Initial Yield 7.01%
Gross Rent Multiplier 8.62
No. Units 28
Property Type Residential
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.81 AC
Building Size 30,094 SF
Average Occupancy 86%
Number of Floors 3
Year Built/Renovated 1970/2024
Parking Ratio 1.5/1,000 SF

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Heating
  • Kitchen
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Tub/Shower
  • Yard
  • Double Pane Windows
  • Freezer
  • Vinyl Flooring
  • Window Coverings

Site Amenities

  • Laundry Facilities
  • Fiber Optic Internet

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 24 £586.84 -
2+1 4 £704.21 -
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PROPERTY TAXES

Parcel Numbers
Multiple
  • 11456
  • 11454
  • 11455
 Total Assessment £316,284 (2024)
Land Assessment £27,830 (2024) Annual Taxes -£1 (£0.00/sf)
Improvements Assessment £288,454 (2024) Tax Year 2025

PROPERTY TAXES

Parcel Numbers
Multiple
  • 11456
  • 11454
  • 11455
Land Assessment
£27,830 (2024)
Improvements Assessment
£288,454 (2024)
Total Assessment
£316,284 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2025
(605) 999-4240

  • Listing ID: 33719073

  • Date on Market: 01/11/2024

  • Last Updated:

  • Address: 1351 Iowa Ave SE, Huron, SD 57350

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© 2024 CoStar Group

Green View Apartments | 1351 Iowa Ave SE
(605) 999-4240 x

Green View Apartments | 1351 Iowa Ave SE

Brian Eliason

(605) 999-4240

(605) 999-4240

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