Crawford Rising Apartments offers a rare combination of immediate income and long-term upside in a market that rarely disappoints. This stabilized 24-unit multifamily property in Vermillion, South Dakota is 100% occupied, nearly fully renovated, and supported by consistent demand from the University of South Dakota and the broader surrounding region. The offering is priced at $2,080,000 and features a 7.00% cap rate, current NOI of $145,553, and pro forma NOI of $162,370. The property includes two buildings on 0.72 acres with a unit mix of 22 two-bedroom/one-bath and 2 one-bedroom/one-bath residences. With limited capital needs and rents currently below market, this asset presents a clear value-add opportunity for investors who want dependable performance and room to grow from day one.
Multi-familyProperty Type
1979Year Built
0.72 acresLot Size
$317Price/Sq.Ft.
Listed by Daniel Stillson• Gateway Real Estate Advisors
REALTOR® Association of the Sioux Empire #22603644
May 22, 2026
Listed
$2,080,000
$317/sq ft
MARMLS #116502
Oct 29, 2024
Listed
$1,800,000
$274/sq ft
NWIA #819067
Dec 21, 2022
Sold
$1,250,000
$191/sq ft
Oct 13, 2022
Listed
$1,375,000
$210/sq ft
LINCOLNWAY APARTMENTS! Good investment property with 2-12plex's, 22-2bedroom units and 2-1 bedroom units. Gross income $12,010,Owner pays garbage, water, sewer and common electric (hot water electricity paid by owner). Washer and dryers are leased from a company and receives aprox. $200 @ month. 19 UNITS RENTED FOR $515, 2 UNITS RENTED FOR $470, 1 UNIT RENTED FOR $465, 2 RENTED FOR $410.
Year
Property tax
Land + Additions
Assessment*
2025
$11,954 (+7.8%)
$68,985 + $488,406
$557,391
2024
$11,088 (+3.2%)
$68,985 + $488,406
$557,391
2023
$10,742 (+11.3%)
$68,985 + $433,323
$502,308
2022
$9,655 (+18.4%)
$60,165 + $367,223
$427,388
2021
$8,153 (+0.3%)
$54,495 + $367,223
$421,718
2020
$8,131 (−3.9%)
$51,975 + $309,620
$361,595
2019
$8,465 (+0.3%)
$51,975 + $309,620
$361,595
2018
$8,441 (−4.4%)
$50,400 + $309,620
$360,020
2017
$8,832
$50,400 + $309,620
$360,020
Public record
Beds
—
Baths
—
Stories
2
Lot width
—
Lot depth
—
Lot size
0.72 Acres
Year renovated
1988
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
6,560
Year built
1979
Style
Other
County
Clay County
APN
15660-00600-040-00
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 10, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
2/10 Fire Factor
Minor risk of being in a wildfire over next 30 years
3/10 Heat Factor
7 hot days expected this year, 14 days in 30 years
Wind Factor
We're working on getting current and accurate wind risk information for this home.
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Vermillion, SD • 57069
Average low and high temperatures (°F)
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46
49
31
38
19
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 1000 S Crawford Rd Rd
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