Heritage High Apartments 210 W Center St Immeuble residentiel 31 lots 2 190 550 € (70 663 €/Lot) Taux de capitalisation 8 % Madison, SD 57042

Heritage High Apartments offers investors the opportunity to acquire a historically significant property in Madison, South Dakota, that has been thoughtfully repurposed into multifamily housing. Originally constructed in 1920 as Madison High School, the property has been transformed into 31 residential units, combining architectural character with modern functionality. The mix includes variations of one- and two-bedroom units, some with vaulted ceilings on the top floor, appealing to a range of tenant profiles.
The property benefits from recent upgrades, including roof improvements in 2023–2024 and a renovated underground parking garage in Fall 2024, which provides 31 stalls for tenant use. A passenger elevator serves all levels, ensuring accessibility. The building has an established tenant base, many aged 55 and older, creating long-term stability and predictable occupancy rates. The central location near Madison’s Main Street delivers convenience with immediate access to dining, retail, and essential services within walking distance.
This asset represents a rare combination of historical charm, strong community presence, and robust income potential, with projected performance delivering an 8.00% cap rate.