412-418 2nd Ave - Apartments FOR SALE


Canistota, SD 57012 | 
$375,000 USD
605-444-7117
412-418 2nd Ave, Canistota, SD for Sale
$375,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

412-418 2nd Ave
Canistota, SD 57012


HIGHLIGHTS

  • Fully occupied four-unit apartment building and nine storage units.
  • Diversified income from residential and self-storage tenants.
  • Scheduled rent increases across all units effective January 2027.
  • Located approximately 30 miles southwest of Sioux Falls near Interstate 90.
  • Apartment building converted to four-plex use in 1994.
  • Established operating history with reported and projected revenue figures.

OVERVIEW

412-418 2nd Avenue presents the opportunity to acquire a fully occupied income-producing asset consisting of a four-unit apartment building and nine storage units in Canistota, South Dakota. The property offers diversified revenue streams from residential and self-storage tenants, creating multiple sources of recurring income within a single investment. Current ownership reports combined 2025 revenue of $40,685, with projected 2026 revenue of $41,000 and scheduled rent increases across all units effective January 1, 2027. Located in Canistota, approximately 30 miles southwest of Sioux Falls along the Interstate 90 corridor, the property benefits from regional connectivity while serving the needs of a stable small-town community. The location provides convenient access to local businesses, services, and transportation routes, supporting ongoing demand for both residential housing and storage accommodations. The combination of residential units and storage facilities allows investors to diversify tenant exposure while maintaining a manageable asset profile. The apartment component was remodeled into a four-plex configuration in 1994, while the storage units were constructed in 1998. The property's established occupancy, planned rent growth, and mixed-use income profile position it as a turnkey investment opportunity for buyers seeking cash flow with future revenue enhancement potential. With all units occupied and rent adjustments already identified, the asset offers immediate income generation and the potential for increased returns through scheduled rental increases.

FOR SALE DETAILS

PRICE

$375,000 USD

PRICE/SF

$94 USD /SF

# OF UNITS

4

PRICE/UNIT

$93,750

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

-

APN/PARCEL ID

21.10.1602,21.10.1604

ASK ABOUT THIS PROPERTY

Dale ZomerNAI Sioux FallsMore Info
605-444-7117

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Dale ZomerNAI Sioux FallsMore Info
605-444-7117

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.