1601 Main StAberdeen, SD 57401

For Sale
$3,250,000

45-Unit Apartment Building, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional multifamily investment opportunity presents a 45-unit apartment building situated on a spacious 3.7-acre lot in Aberdeen, South Dakota. Located at 1601 N Main St, this three-story building boasts a total of 80,772 square feet, offering a compelling price per square foot of $40.24 and a price per unit of $72,222.22. The property's unit mix includes one 2-bedroom unit, six 1-bedroom units, and thirty-eight 4-bedroom units, each featuring one bathroom. A significant advantage is the ample on-site parking, providing 175 spaces for residents. Adding to the building's appeal are community kitchens and recreation areas conveniently located on each floor. This property is situated on the former Presentation College campus in north Aberdeen, offering a desirable location and potential for strong rental income. The asking price for this substantial multifamily complex is $3,250,000. This presents a rare chance to acquire a well-maintained, high-occupancy apartment building in a growing area. The property's size, unit configuration, and ample parking make it an attractive investment for both seasoned and emerging real estate investors. The convenient location and existing amenities contribute to its strong potential for long-term profitability. This is a turnkey opportunity to acquire a significant multifamily asset in a desirable location.

Highlights

  • 45-unit multifamily apartment building on a 3.7-acre lot in Aberdeen, SD.
  • Located at 1601 N Main St, with 80,772 square feet.
  • Priced at $3,250,000 ($40.24/SF, $72,222.22/unit).
  • Unit mix: 38 four-bedroom, 6 one-bedroom, and 1 two-bedroom units, each with one bathroom.
  • 175 on-site parking spaces and community kitchens/recreation areas on each floor.

Property Details for 1601 Main St

Property type
Multifamily properties, Apartment buildings
Square Feet
80,772 SF
Lot Size (sq. ft)
161,172 SF
Units
45

Location Insight

City
Aberdeen
County
Brown
State
South Dakota
Latitude
45.4818799
Longitude
-98.4880393
1601 Main St, Aberdeen, South Dakota

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1601 Main St
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