$3,500,000

1026 Cornell St Vermillion, SD 57069

Estimated payment $23,517/month

Total Views 12,869
16 Beds
12 Baths
3,744 Sq Ft
$935 Price per Sq Ft

Highlights

  • 1.57 Acre Lot
  • Forced Air Heating and Cooling System
  • Level Lot
  • Landscaped with Trees
  • Coin Laundry

About This Home

Sunset Apartments delivers what investors and residents want most: simplicity, durability, and everyday livability, steps from Vermillion conveniences and minutes to the University of South Dakota. Eight classic, garden-style buildings (32 total homes; each 800 SF) are spread across ±1.566 acres, pairing low-maintenance construction with fresh 2024 roof replacements on all buildings. The community’s cohesive two-bedroom offering (20 two-bed/one-bath and 12 two-bed/two-bath) stays full & easy to run supported by resident-paid water/electric, landlord-paid trash, and common-area laundry in every building. Thoughtful details elevate the renter experience: main-level apts open via sliding glass doors to private concrete patios; four buildings feature private upper decks for airy outdoor living. Two construction phases provide mechanical efficiency: the earlier 2005 buildings offer in-wall A/C with radiant heat, while the 2008 buildings feature central A/C with forced-air heat. On-site convenience continues outside with 72 striped surface spaces and straightforward site lines across the flat, R-3-zoned grounds. Positioned for steady performance and low friction, Sunset Apartments is a clean, rent-ready asset with immediate cash flow and clear levers for optimization, tiered premiums for patio/deck homes, floor level, and plan type; continued operational consistency; and marketing to a durable renter base anchored by USD, healthcare, and local schools. Key Highlights: Eight 2-story buildings|32 units|each 800 SF|open concept Mix: (20) 2×1 and (12) 2×2 28 of 32 units updated, 2024: new shingles on all buildings. Outdoor living: private patios on main-level homes; upper decks on four buildings. Laundry: common-area laundry in every building. Mechanical: 2005 phase—in-wall A/C + radiant heat; 2008 phase—central A/C + forced-air heat. Utilities: resident-paid water & electric; landlord-paid trash; no gas; no RUBS currently in place. Parking: 72 striped surface spaces.

Listing Agent

Lori Whitman

Maloney Real Estate Listed on: 09/20/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $57,765

Year Built

  • Built in 2005

Lot Details

  • 1.57 Acre Lot
  • Level Lot
  • Landscaped with Trees

Parking

  • Driveway

Home Design

  • 3,744 Sq Ft Home

Schools

  • Vermillion Elementary And Middle School
  • Vermillion High School

Utilities

  • Forced Air Heating and Cooling System
  • Window Unit Cooling System
  • Radiant Heating System
  • Internet Available

Community Details

  • 32 Units
  • Coin Laundry
  • Gross Income $384,000

Listing and Financial Details

  • Assessor Parcel Number 15180-00000-130-15

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$57,765

Year Built

Built in 2005

Lot Details

1.57 Acres

Listing Details

  • Property Class: Multi-Unit
  • Type: Multi-Unit
  • Property Features: Landscaping, Level Lot, Trees
  • Legal Description: 1026/1028 -LOT G OF LOT 13 COLLINS-15180-00000-130-15, 1032/1034 -LOT F OF LOT 13 COLLINS-15180-00000-130-12, 1106/1108 -LOT E OF LOT 13 COLLINS-15180-00000-130-09, 1114/1116 -LOT D OF LOT 13 COLLINS-15180-00000-130-00 CITY OF VERMILLION, CLAY COUNTY, SD
  • Year Built: 2005
  • Audio Surveillance: Yes
  • Current Leases Available: Yes
  • School Middle Junior: Vermillion
  • Video Surveillance: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Sq Ft: 3744
  • Main Level Sq Ft: 1872
  • Sq Ft 2nd Level: 1872

Garage/Parking

  • Internet: Yes
  • Driveway: Concrete
  • Off Street Parking: 72

Utilities

  • Air Conditioning Type: Central, Window Unit
  • Flood Insurance: Not Required
  • Fuel Type: Electric
  • Heat Type: Forced Air, Radiant
  • Sewer Type: City
  • Water Type: City
  • Coin Operated Laundry: Yes

Lot Info

  • Acres: 1.57
  • Lot Sq Ft: 68532
  • Parcel Number: 15180-00000-130-15
  • Zoning: R3

Rental Info

  • Paid By Electric: Tenant
  • Paid By Gas: Tenant
  • Paid By Water: Tenant

Tax Info

  • Year: 2024
  • Gross Taxes: 57765
  • Tax Class: 401

Multi Family

  • Electric Separate By Unit: Yes
  • Gross Income: 384000
  • Heat Separate By Unit: Yes
  • Number Of Units: 32
  • Water Separate By Unit: Yes

MLS Schools

  • School Elementary: Vermillion
  • School High: Vermillion

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/20/2025 09/20/25 For Sale $3,500,000 -- $935 / Sq Ft
Source: Northwest Iowa Regional Board of REALTORS®

Purchase History

Date Type Sale Price Title Company
Deed $2,400,000 --
Source: Public Records

Source: Northwest Iowa Regional Board of REALTORS®

MLS Number: 830378

Northwest Iowa Regional Board of REALTORS®

APN: 15180-00000-130-15

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