Northview Estates | 2021 N Kimball St
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Northview Estates 2021 N Kimball St
72 Unit Apartment Building $14,682,816 CAD ($203,928 CAD/Unit) Mitchell, SD 57301
Investment Highlights
- Stable, well-occupied property.
- Rents well below market rents.
- High quality construction (gyp-crete floors and double-stud walls).
Executive Summary
Northview Estates is a well-maintained and upscale 72-unit multi-family apartment complex located on the north side of Mitchell, SD, with a population of approximately 16,000. Each unit boasts 2 spacious bedrooms, with 54 units featuring 2 bathrooms and 18 units featuring 1 bathroom. Additionally, each unit includes a detached garage. The construction of the property utilized top-quality materials and methods, such as gyp-crete subfloors for noise reduction and double-stud walls for increased soundproofing between units. The property has been under the same ownership since development and has been meticulously cared for, with regular updates to flooring, appliances, and exteriors. Currently, the property is almost fully occupied and rental rates are below market value for similar units. For more information, please contact Brian at 605-999-4240 or email Brian@JanklowEliason.com.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $14,682,816 CAD | Building Class | B |
| Price Per Unit | $203,928 CAD | Lot Size | 5.12 AC |
| Sale Type | Investment | Building Size | 82,368 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 95% |
| No. Units | 72 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1995 |
| Property Subtype | Apartment | Parking Ratio | 1.02/1,000 SF |
| Apartment Style | Garden |
| Price | $14,682,816 CAD |
| Price Per Unit | $203,928 CAD |
| Sale Type | Investment |
| Sale Conditions | 1031 Exchange |
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 5.12 AC |
| Building Size | 82,368 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1995 |
| Parking Ratio | 1.02/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Laundry Facilities
- Playground
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 18 | $1,195 CAD | 1,050 |
| 2+2 | 54 | $1,266 CAD | 1,050 |
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PROPERTY TAXES
| Parcel Number | 15800-01500-204-20 | Total Assessment | $5,630,808 CAD |
| Land Assessment | $425,284 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $5,205,524 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
15800-01500-204-20
Land Assessment
$425,284 CAD
Improvements Assessment
$5,205,524 CAD
Total Assessment
$5,630,808 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | R-4 (Multi-Family.) |
| R-4 (Multi-Family.) |
-
Brian Eliason -
Janklow Eliason Real Estate
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Northview Estates | 2021 N Kimball St
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