INVESTMENT OPPORTUNITY
SAB Capital is pleased to present Orchard Square Apartments, a family-designated apartment community located on 2.87 acres in Yankton, SD. The property includes 3, two-story brick apartment buildings. The buildings were constructed using concrete foundations, and wood and brick exterior. The property’s current mix includes 45 one bedroom, one bath units, and 15 two bedroom, one-bath units. The community amenities include laundry facilities and off-street parking. All utilities including water, electric, gas, and sewer are the responsibility of the landlord. The property features a HAP contract that covers 100% of the units and runs through July 2026. The current contract rents are below the 2023 FMR’s and $284.20 below the 2022 HUD 140% Median Gross Rent by Zip Code Metrics. The last reported REAC was a 92c in 2019.
- 100% Project-Based Section 8 Rent Subsidy Contract | 5-Year Renewal Under Option 1 in 2021
- Landlord is Responsible for Water & Sewer, Electric, and Gas
- More than $86,000 in Capital Improvements Made Since 2020
- 2019 REAC: 92c
- Yankton County FMR’s Grew Nearly 11% from 2022 to 2023
Contact John Snee for Full Investment Offering
| Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
|---|---|---|---|---|---|
| Orchard Square Apartments | $ | % | 23,121 | Under Contract |
