1600 Nebraska StSioux City, IA 51105

Property Details for 1600 Nebraska St

Year built

1910

Lot size

0.15 AC

Property size (Sq ft)

2,680 SF

Property type

Apartment buildings

Description

Exceptional investment opportunity in Sioux City, Iowa! This meticulously renovated 5-unit apartment building at 1600 Nebraska St boasts a strong 9.05% capitalization rate and a current 100% occupancy. The property, situated on a 0.15-acre lot (APN 894721377006), comprises a four-plex and a separate studio apartment, all fully renovated in 2020. Upgrades include new flooring, kitchens, bathrooms, plumbing, electrical systems, water heaters, and furnaces. Further enhancing the property's value, the roof was replaced in 2020 and all windows were replaced in 2019. The building, constructed in 1910 and featuring two stories, offers 2,680 square feet of living space, priced at $103 per square foot. The asking price is $250,000, with a net operating income (NOI) of $25,329.05. Tenants are responsible for MidAmerican energy costs, while the landlord covers water and sewer expenses. The property is zoned NC.5 and presents a compelling opportunity for a savvy investor seeking a high-return, low-maintenance multifamily asset in a desirable location. This turnkey property is ready for immediate income generation.

Location Insight

City

Sioux City

County

Woodbury

State

Iowa

Latitude

42.5073

Longitude

-96.4032

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