For Sale
$1,285,000

505 Washington St Aberdeen, SD 57401

14-Unit Apartment Building, 100% Occupancy

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional 14-unit apartment building presents a compelling investment opportunity in Aberdeen, South Dakota. Located at 505 S Washington St, this two-story property, built in 1971, sits on a 0.32-acre lot and boasts a current occupancy rate of 100%, generating a substantial net operating income (NOI) of $109,678. The building comprises a mix of one- and two-bedroom units, complemented by two larger suites—one with four bedrooms and the other with five. This diverse unit mix caters to a broad range of tenants, ensuring consistent rental income. The property's strong performance is further enhanced by the convenience of off-street parking. The asking price for this turnkey investment is $1,285,000. This represents a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a stable market. The property's strong cash flow and high occupancy make it an attractive investment for both seasoned and new investors seeking a reliable income stream. Detailed financial statements are available upon request. This property is situated in Brown County, South Dakota, with the precise location coordinates being latitude 45.45961704412774 and longitude -98.48517386978949, and zip code 57401. The property offers a significant return on investment and is ready for immediate income generation.

Highlights

  • $1,285,000 asking price.
  • 14-unit apartment building in Aberdeen, SD.
  • 100% occupancy, generating $109,678 NOI.
  • Built in 1971, two-story building on a 0.32-acre lot.
  • Mix of one- and two-bedroom units, plus two large suites (four and five bedrooms).
  • Off-street parking.

Property Details for 505 Washington St

Property type
Apartment buildings
Year Built
1971
Buildings
1
Stories
2
Lot Size (sq. ft)
13,939 SF

Location Insight

City
Aberdeen
County
Brown
State
South Dakota
Latitude
45.459617044128
Longitude
-98.485173869789

FAQs

What type of property is this?
Apartment building - 14-Unit Apartment Building, 100% Occupancy
Where is the apartment building located?
The property is located at 505 Washington St Aberdeen, SD.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: $1,285,000 asking price.; 14-unit apartment building in Aberdeen, SD.; 100% occupancy, generating $109,678 NOI.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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505 Washington St
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