Greysteel Represents Seller In $15.3M Sale Of 143-Unit Multifamily Property In South Sioux City

A 143-unit Class B multifamily property, Dakota Pointe, located at 208 East 39th Street in South Sioux City, NE, was sold for $15.3 million, translating to approximately $107,000 per unit. The property, constructed in 1994, is fully occupied and attracted multiple offers from private investors in South Dakota, highlighting its appeal for stable rental demand and long-term investment in secondary markets in the Midwest.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,300,000
• Units: 143
• Price Per Unit: $106,993
• Broker: Ryan Carter - Greysteel

Greysteel represented the seller in this transaction, showcasing the asset's potential for yield and long-term hold opportunities, which were appealing to the buyers in the market.