Hidden Hills Apartments


Tzadik is under contract to purchase Hidden Hills (179 units) in Sioux Falls, SD. The property was built in 2016 and is in great condition. Our plan includes closing with a bridge loan, implementing our capex plan, increasing rents ~$150 over 24 months to current market levels while managing operating expenses and eventually selling or refinancing in Year 2 or 3.

  • Rent Growth

    Sioux Falls 4 Star Multifamily properties are forecasted to experience substantial rent growth throughout each quarter in 2022: Q1 –Q4: 11.7%, 9.4%, 3.9%, 3.7%

  • Value Add

    Hidden Hills units are currently renting for $827 / unit and $0.92/ SFwhile market rent is $1,050 / unit and $1.09 /SFfor comparable 4-star multifamily properties

  • Below Market Sales Price

    We’re purchasing Hidden Hills for $95K / unitwhile the market sale price / unit is $117k for comparable 4-star multifamily properties

  • Population Growth

    Sioux Falls has historically achieved double digit population growth (24% from 2000 –2010, 19% from 2010 –2020) and is forecasted to continue this growth over the coming years.

  • Low Taxes

    The IncomeTaxRatefor Sioux Falls is 0%while the US average is 4.6%. The Sales Tax Rate for Sioux Falls is 6.5% while the US average is 7.3%.

  • Low Unemployment

    Sioux Falls currently has an unemployment rate of 3.2% vs the US average of 6.0%. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%.


DISCLAMER: Although information has been obtained from sources deemed reliable, neither Owner nor Tzadik Management makes any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein. Any projections, opinions, assumptions or estimates used are for example only. There may be differences between projected and actual results, and those differences may be material. Neither Owner nor Tzadik Management accepts any liability for any loss or damage suffered by any party resulting from reliance on this information. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement.

Property Summary
950 North Cliff Avenue, Sioux Falls, SD 57103
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