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Spring Street Apartments 410 N Spring Ave 8 Unit Apartment Building $1,102,000 CAD ($137,750 CAD/Unit) 4.98% Cap Rate Sioux Falls, SD 57104
Investment Highlights
- Near Downtown Sioux Falls
Executive Summary
Spring Avenue Apartments is the kind of property that quietly outperforms — small enough to feel like a home, well-located enough to never struggle for tenants. All 8 units are one-bedroom residences, catering directly to the growing segment of single-occupant renters and young professionals who are fueling demand in walkable urban neighborhoods across Sioux Falls. For an owner-operator, the appeal is equally clear: 8 units, minimal capital requirements, and a location that does the leasing work for you. As Sioux Falls' downtown continues to draw residents, businesses, and investment northward, Spring Avenue Apartments sits squarely in the path of that progress.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| 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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,102,000 CAD | Building Class | C |
| Price Per Unit | $137,750 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 2,240 SF |
| Cap Rate | 4.98% | Average Occupancy | 68% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment |
| Price | $1,102,000 CAD |
| Price Per Unit | $137,750 CAD |
| Sale Type | Investment |
| Cap Rate | 4.98% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,240 SF |
| Average Occupancy | 68% |
| No. Stories | 2 |
| Year Built | 1976 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Refrigerator
- Sprinkler System
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $998.69 CAD | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 52474 | Improvements Assessment | $359,899 CAD (2024) |
| Land Assessment | $33,154 CAD (2024) | Total Assessment | $393,053 CAD (2024) |
Property Taxes
Parcel Number
52474
Land Assessment
$33,154 CAD (2024)
Improvements Assessment
$359,899 CAD (2024)
Total Assessment
$393,053 CAD (2024)
Contacts
-
Gateway Real Estate Advisors Daniel Stillson -
Nic
Madsen
- Gateway Real Estate Advisors
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Presented by
Gateway Real Estate Advisors
Spring Street Apartments | 410 N Spring Ave
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