1720 Morningside Avenue

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1720 Morningside Avenue

Sioux City, IA 51106
Asking Price
$4.25M
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Multifamily apartment building located at 1720 Morningside Avenue in Sioux City.
  • The residential property contains a total of 24 individual apartment units.
  • Asking price for the multifamily investment asset is set at $4,250,000.
  • The building is positioned within the established Morningside neighborhood of Iowa.
  • This asset offers scale for investors focused on the Sioux City market.

What's Special

Sioux City functions as a regional economic hub within northwestern Iowa, drawing a steady population of residents who rely on the city’s diverse industrial base and healthcare sectors. Situated at 1720 Morningside Avenue, this apartment building provides a strategic residential option within the Morningside neighborhood. The property serves as a stable component of the local multifamily landscape, benefiting from the consistent demand for rental housing in this established community. This 24-unit multifamily asset represents a sizable investment in a submarket known for its accessible local services and proximity to educational institutions. Investors can leverage the existing scale of the building to support professional property management strategies. Given its layout and unit count, the property is suited for buyers seeking to expand their portfolio within the Sioux City metro area while maintaining a footprint in a neighborhood characterized by stable, long-term occupancy trends.

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NOI
$80,000
Cap Rate
1.88%
DSCR
0.32
Underwater
Cash-on-Cash
-13.52%
Monthly Payment
$21,026.681
Annual Cash Flow
$-172,320.173

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