200-208 E 39th Street
Property Description
BEING SOLD BY ORIGINAL DEVELOPER & METICULOUSLY MAINTAINED The current ownership built the property and has successfully operated the property for 30+ years while demonstrating a disciplined, long-term approach to asset stewardship. Capital has been consistently reinvested into the property, resulting in well-maintained building systems, reduced deferred maintenance, and a stable operating profile for incoming ownership. $200+ IN ORGANIC RENT UPSIDE In-place rents remain materially below the market average of $1,108 per month, as further evidenced by comparable properties within the immediate submarket. New ownership can capture over $200 per unit per month in rental upside through mark-to-market rent growth, without the need for interior renovations or capital-intensive unit upgrades, providing a clear and near-term NOI expansion opportunity. IN COMING RENTER WAITING LIST Dakota Pointe benefits from a documented waiting list exceeding 100 prospective renters, underscoring significant pent-up demand driven by the property’s affordability, unit mix, and strategic location within the Sioux City market. This depth of demand provides incoming ownership with exceptional pricing power, materially reduces leasing risk, and supports continued rent growth while maintaining high occupancy. The waiting list further insulates the asset during economic slowdowns and provides a clear runway for absorbing rent increases without concessions. IMMEDIATE SCALE Dakota Pointe offers investors a rare opportunity to establish meaningful scale in the Sioux City multifamily market with a single acquisition. The asset’s size allows for operating efficiencies, institutional quality management, and immediate market presence that is difficult to replicate through smaller, fragmented acquisitions.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 143 |
| Opportunity Zone: | No |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
1825 S Crawford Road
Mt Pleasant, Michigan
1825 S Crawford Road
Mt Pleasant, Michigan
1825 S Crawford Road
Mt Pleasant, MichiganBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout