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MULTI-FAMILY REDEVELOPMENT OPPORTUNITY 217 19th St 87 Unit Apartment Building For Sale Sioux City, IA 51105
Executive Summary
REDEVELOPMENT POTENTIAL
Primed for redevelopment, this Sioux City property presents a compelling opportunity for affordable, workforce, or HUD-supported housing. The site may be well-suited for developers or housing providers seeking to pursue public/private incentives, tax credits, grant programs, or other low-income housing initiatives. Buyer to verify zoning, density, program eligibility, and available development incentives.
PROPERTY SPECIFICATIONS
Luma Heights Apartments
217 19th Street Sioux City, IA 51105
Mid-rise apartment building
Class A Potential
(87) apartments & (12) parking stalls on 0.69 acres
Unit mix: (42) studios, (35) 1-beds, (5) 2-beds & (5) 3-beds
Rentable area: 74,037 SF | Gross area: 82,257 SF
Built 1920; formerly a hotel, converted to apartments
Creative financing options available
Purchase Price: unpriced
GENERAL OFFERING
The Sioux City-IA-MSA boasts one of the nation’s lowest unemployment rates at 3.2% as of April 2026. Sioux City benefits from a diversified regional economy, strong industrial and food-processing presence, and central access to Interstate 29, rail, river transport, and Sioux Gateway Airport.
Primed for redevelopment, this Sioux City property presents a compelling opportunity for affordable, workforce, or HUD-supported housing. The site may be well-suited for developers or housing providers seeking to pursue public/private incentives, tax credits, grant programs, or other low-income housing initiatives. Buyer to verify zoning, density, program eligibility, and available development incentives.
PROPERTY SPECIFICATIONS
Luma Heights Apartments
217 19th Street Sioux City, IA 51105
Mid-rise apartment building
Class A Potential
(87) apartments & (12) parking stalls on 0.69 acres
Unit mix: (42) studios, (35) 1-beds, (5) 2-beds & (5) 3-beds
Rentable area: 74,037 SF | Gross area: 82,257 SF
Built 1920; formerly a hotel, converted to apartments
Creative financing options available
Purchase Price: unpriced
GENERAL OFFERING
The Sioux City-IA-MSA boasts one of the nation’s lowest unemployment rates at 3.2% as of April 2026. Sioux City benefits from a diversified regional economy, strong industrial and food-processing presence, and central access to Interstate 29, rail, river transport, and Sioux Gateway Airport.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 42 | - | 450 |
| 1+1 | 35 | - | 600 |
| 2+1 | 5 | - | 800 |
| 3+1 | 5 | - | 900 - 90,090 |
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Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 894721306009 | Improvements Assessment | $3,602,273 CAD |
| Land Assessment | $1,089,792 CAD | Total Assessment | $4,692,065 CAD |
Property Taxes
Parcel Number
894721306009
Land Assessment
$1,089,792 CAD
Improvements Assessment
$3,602,273 CAD
Total Assessment
$4,692,065 CAD
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MULTI-FAMILY REDEVELOPMENT OPPORTUNITY | 217 19th St
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