316 E 15Th St Street

Description

Fully occupied and extensively renovated 9-unit apartment building in the core of Sioux Falls. One block south of Sunshine Foods and steps from downtown, this property offers a prime location surrounded by major employment, shopping, and city amenities. The two-story building features nine one-bedroom, one-bath units, each modernized inside and out. Comprehensive updates cover both cosmetic and major capital items, positioning the asset for low-maintenance ownership and long-term stability. Landlord covers water, sewer, trash, and heat (with RUBS in place for utility bill-backs), while tenants pay electric. The site provides front and rear access, on-site and off-street parking, and shared laundry for additional income potential. With strong occupancy and durable finishes, the property is already performing well but still offers significant upside through gradual rent adjustments as renewals come due. The size and location also make it a compelling candidate for mid-term or furnished housing strategies targeting healthcare or downtown professionals. A clean, updated, and well-located multifamily asset with stable income today and meaningful upside ahead the ideal balance of turnkey condition and future growth potential.