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Heritage High Apartments 210 W Center St 31 Unité Immeuble d’appartements 3 513 250 $ CAD (113 331 $ CAD/Unité) 8% Taux de capitalisation Madison, SD 57042
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Faits saillants de l'investissement
- Historically significant former high school converted into quality multifamily housing.
- Recent improvements include a new roof, updated garage facilities, and operational systems.
- Stable tenant base with institutional-quality construction that supports long-term durability.
- Historically significant former high school converted into quality multifamily housing.
- Located steps from Main Street, near local retail, restaurants, and essential services.
- Large, secure underground parking garage offering 31 stalls for resident convenience.
Résumé de l'annonce
Heritage High Apartments offers investors the opportunity to acquire a historically significant property in Madison, South Dakota, that has been thoughtfully repurposed into multifamily housing. Originally constructed in 1920 as Madison High School, the property has been transformed into 31 residential units, combining architectural character with modern functionality. The mix includes variations of one- and two-bedroom units, some with vaulted ceilings on the top floor, appealing to a range of tenant profiles.
The property benefits from recent upgrades, including roof improvements in 2023–2024 and a renovated underground parking garage in Fall 2024, which provides 31 stalls for tenant use. A passenger elevator serves all levels, ensuring accessibility. The building has an established tenant base, many aged 55 and older, creating long-term stability and predictable occupancy rates. The central location near Madison’s Main Street delivers convenience with immediate access to dining, retail, and essential services within walking distance.
This asset represents a rare combination of historical charm, strong community presence, and robust income potential, with projected performance delivering an 8.00% cap rate.
The property benefits from recent upgrades, including roof improvements in 2023–2024 and a renovated underground parking garage in Fall 2024, which provides 31 stalls for tenant use. A passenger elevator serves all levels, ensuring accessibility. The building has an established tenant base, many aged 55 and older, creating long-term stability and predictable occupancy rates. The central location near Madison’s Main Street delivers convenience with immediate access to dining, retail, and essential services within walking distance.
This asset represents a rare combination of historical charm, strong community presence, and robust income potential, with projected performance delivering an 8.00% cap rate.
Faits sur la propriété
| Prix | 3 513 250 $ CAD | Classe d’immeuble | B |
| Prix par unité | 113 331 $ CAD | Taille du lot | 0,74 AC |
| Type de vente | Investissement | Taille du bâtiment | 32 000 pi² |
| Taux de capitalisation | 8% | Nombre d’étages | 2 |
| Nombre d’unités | 31 | Année de construction | 2020 |
| Type de propriété | Immeuble residentiel | Zone de développement économique |
Oui
|
| Sous-type de propriété | Appartement | Numéro de lot | 21040-00500-090-10 |
| Style d’appartement | De faible hauteur |
| Prix | 3 513 250 $ CAD |
| Prix par unité | 113 331 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 8% |
| Nombre d’unités | 31 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | B |
| Taille du lot | 0,74 AC |
| Taille du bâtiment | 32 000 pi² |
| Nombre d’étages | 2 |
| Année de construction | 2020 |
| Zone de développement économique |
Oui |
| Numéro de lot | 21040-00500-090-10 |
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 2+1 | 24 | - | - |
Assez accessible à pied
50/100
Exceptionnellement adapté aux voitures
100/100
Relativement accessible en vélo
30/100
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Heritage High Apartments | 210 W Center St
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