Details
$339,000
Multi-Family
- Property ID: 830789
- Total Sq. Ft.: 5174 Sq Ft
- Acres: 0.22 Acres
- Year Built: 1900
- Property Status: For Sale
- Taxes: $5435
Description
Discover a well-maintained 8-unit multifamily property located just one block north of historic Downtown Vermillion and five blocks from the University of South Dakota. The main building offers seven units configured as studios, one-bedrooms, and two-bedrooms, with an additional detached 2 bed/1 bath home situated at the rear of the lot. Each main-building unit features hot water heat and window A/C (detached building has forced air and wall A/C), and several units have original hardwood floors that have been recently exposed. Shared amenities include an on-site coin-operated laundry room and an off-street parking lot. Recent building improvements include a new roof installed in 2018, updated hot water heaters, and main electrical service converted to breaker panels in 2015. The property currently shows consistent occupancy with leases in place through May 31, 2026. Convenient proximity to downtown businesses, dining, arts, and community activities enhances long-term rental appeal, while its location near campus adds year-round demand potential. This established multifamily offering provides an opportunity to step into a stabilized building in a central Vermillion location. Seller is related to the listing agent.
MLS Information
| Above Grade Square Feet | 1 |
| Air Conditioner Type | Window Unit |
| Association Fee | 0 |
| Below Grade Square Feet | 1 |
| Below Grade Finished Square Feet | 0 |
| Below Grade Unfinished Square Feet | 0 |
| Contingency Type | None |
| County | Clay |
| Driveway | None |
| Fuel Type | Natural Gas |
| Garage Type | None |
| Heat Type | Baseboard |
| Legal Description | N 1/2 OF LOT 13 & ALL OF LOT 14 BLK 35 SNYDERS ADDN |
| Main Square Feet | 3075 |
| Rental Income | 5350 |
| Rented | Yes |
| Tax Year | 2024 |
| Units | 8 |
| Water Type | City |
| Zoning | R2 |
MLS#: 830789; Listing Provided Courtesy of Maloney Real Estate (605-624-3333) via Northwest Iowa Regional Board of REALTORS. The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.
