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$ 275,000
Est. payment /mo
Active
1305 S Spring Ave Sioux Falls, SD 57105
2,300 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,300 sqft
Price per Sqft $119
Subdivision Park Addition
MLS Listing ID 22604105
Year Built 1904
Lot Size 3,441 Sqft
Property Sub-Type Triplex
Property Description
Rare triplex in one of Sioux Falls' most sought-after corridors for rental property — walking distance to both hospitals, major colleges, and downtown. One 3BD/1BA and two 2BD/1BA units, all updated in recent years with new water heater (2021), coin-op washer/dryer (2021), insulated rear entrance, and ongoing unit improvements throughout.
The house hack opportunity here is straightforward: occupy the basement unit, collect rent from the other two, and dramatically reduce your cost of living while building equity in a location landlords don't let go of often. Self-manage, handle your own lawn and snow, and pocket the management fees — or hold it as a pure investment and let the numbers work for you.
Current rents have room to grow as leases turn over. Owner covers gas, water/sewer, and trash with a RUBS billback in place. Coin-op laundry adds supplemental income. Seller is offering a credit toward minor exterior repairs — easy cosmetic upside that goes a long way on curb appeal in a neighborhood this strong. Don't overlook this one.
The house hack opportunity here is straightforward: occupy the basement unit, collect rent from the other two, and dramatically reduce your cost of living while building equity in a location landlords don't let go of often. Self-manage, handle your own lawn and snow, and pocket the management fees — or hold it as a pure investment and let the numbers work for you.
Current rents have room to grow as leases turn over. Owner covers gas, water/sewer, and trash with a RUBS billback in place. Coin-op laundry adds supplemental income. Seller is offering a credit toward minor exterior repairs — easy cosmetic upside that goes a long way on curb appeal in a neighborhood this strong. Don't overlook this one.
Location
State SD
County Minnehaha
Area Sfc009
Rooms
Basement Full
Interior
Heating Natural Gas
Flooring Carpet, Laminate
Exterior
Exterior Feature Metal/Vinyl
Roof Type Shingle Composition
Building
Foundation Block
Sewer City Sewer
Water City Water
Schools
Elementary Schools Lowell Es
Middle Schools Edison Ms
High Schools Lincoln Hs
School District Sioux Falls
Others
Miscellaneous Master Meter,Multi Unit Heat and Air,Dead Bolt
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LIsted by 605 Real Estate LLC • Blake Bohner
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