5300 Stone AveSioux City, IA 51106

Property Details for 5300 Stone Ave

Year built

1998

Construction

FRAME

Lot size

1.33 AC

Property size (Sq ft)

17,120 SF

Property type

Assisted living facilities

Property subtype

Retirement homes

APN

894736452014

APU

894736452014

Description

This exceptional investment opportunity presents a 70-unit HUD apartment complex located at 5300 Stone Ave, Sioux City, Iowa, in Woodbury County, zip code 51106. The property, encompassing two buildings on a 2.83-acre lot, boasts a total of 50,756 square feet. Built in 1985 and 1998, the complex comprises the main Maple Heights building (50 units: 15 efficiencies and 35 one-bedroom, one-bathroom units) and the Maple Heights Annex (20 units: 19 one-bedroom, one-bathroom units and 1 two-bedroom, one-bathroom unit). All 70 units are currently 100% occupied. The complex is situated on Stone Blvd, overlooking the Sunrise Retirement Home Campus, offering residents beautiful views. Its convenient location provides easy access to Gordon Drive and Highway 20, placing residents minutes from shopping, groceries, and entertainment. Each unit features air conditioning and a pull-cord call system. Resident amenities include laundry facilities, controlled access, and outdoor patios. The asking price is $4,650,000, offering a projected 5% ROI with assumable PRAC financing. Detailed financial information is available upon request with a Confidentiality Agreement. The property includes two parcels: 894736452014 and 894736452015. This is a three-story building. This is a special purpose property consisting of commercial land.

• CAP approach

  CAP return

  Valuation

  6%

  $2,548,073

  6.5%

  $2,352,067

  7%

  $2,184,062

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,004,876

  Geo Method

  $1,004,876

• Alternative Use

  Use

  Valuation

  Residential

  $2,983,697

  Hospitality

  $2,733,050

  Educational

  $2,273,866

  Medical

  $2,352,067

  Retail

  $3,537,124

Location Insight

City

Sioux City

County

Woodbury

State

Iowa

Latitude

42.4785

Longitude

-96.3385

CBSA code

43580

CBSA name

SIOUX CITY, IA-NE-SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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