We will sell the following apartment complexes located at 300 E. Wagner St., Marion, SD 57043 or from Marion (Gas Station) go 2 Blocks East and 1 Block South.

Have you been looking for an investment property? Look no more!! Here is an exceptional opportunity!!

OPEN HOUSE DATES:   Thursday, October 22^nd  1:00 – 2:30 PM or Monday, November 2^nd 9:00 – 10:30 AM or call Mike Wieman at 605-351-0905    Note:  Only one of the apartments in Parcel 2 will be available for viewing.  Parcel 1 has all apartments available to view.

The apartment buildings will be sold separately in 2 parcels as: (2) 8 Unit Complexes (Gray in Color) & (2) 4 Unit Complexes (Yellow in Color) 

Parcel 1:

Consists of two apartment buildings that were built in 1973 with four units in each of them on a 150 x 150 Lot with a great location near downtown. This apartment consists of 3 apartments with 2 bedrooms and 1 apartment with 1 bedroom, full bathroom w/ shower, kitchen w/ refrigerator and stove, window AC unit and baseboard electric heat and small living room. Floor coverings are linoleum floor and vinyl/laminate. Both apartments have one washer and dryer that are coin operated. Storage room w/ mechanical room which houses the hot water boiler system. These two complexes have an upper and lower level as well as a front and rear entrance. A newer tin roof was installed. The buildings have city water and sewer and are supplied electricity by Xcel with one meter per building. There is a cement pad for parking. Currently, parcel 1 has no tenants in either building. The complexes are being sold as is.   NOTE:  These are the apartments that are gray in color.  This parcel is only selling as a unit!  They WILL NOT be offered separately!

Legal Description:   Plat of Marion Apartments Annex Addition to Block B of Kuchenbeckers Third Addition to the City of Marion, Northwest Quarter (NW ¼) of Section Five (5), Township Ninety-Nine (99) North, Range Fifty-Four (54) West of the 5^th P.M., Turner County, South Dakota, according to the recorded plat thereof.

Taxes:  on this parcel for the 2025 RE Taxes due in 2026 are $5038.66.

Parcel 2:

Consists of two apartment buildings that were built in 1974 with four units in each of them on a 225 x 150 Lot. Sits adjacent to parcel one on the east side with a great location near downtown. Each building consists of 4 apartments w/ (2) bedrooms, a full bathroom and shower, living room area, closets, stove, refrigerator, baseboard electric heat and AC units. They also include carpet and linoleum floorings. The washer and dryer are located in the center of the apartment and are coin operated. These apartments are clean and are all on one level. They have front and rear entrances with a rear cement parking pad. These buildings are fully functioning currently. They have a newer tin roof on both complexes. The buildings have city water and sewer and are supplied with electricity by Xcel with one meter per building. All but one of the apartments are tenant occupied in parcel 2.  NOTE:  These are the apartments that are yellow in color. 

Legal Description:  The West 225 Feet of Handwerk’s Tract No. 1 to Outlot 30 City of Marion of the Northwest Quarter (NW ¼) of Section Five (5), Township Ninety-Nine (99) North, Range Fifty-Four (54) West of the 5^th P.M., Turner County, South Dakota, according to the recorded plat thereof.

Taxes:  on this parcel for the 2025 RE Taxes due in 2026 are $4897.36.

Parcel 3:

Consists of the East Half of the Parcel 2 Building  (East Side), Yellow Apartments   sold subject to survey!

Parcel 4:

Consists of the West Half of the Parcel 2 Building (West Side), Yellow Apartments, sold subject to survey!

NOTE:  If parcels 3 & 4 are sold separately, the survey and plat will be completed!  If they are sold as one as Parcel 2, then no survey will be done!  Buyers will have to be aware of the paper work and timing of this transaction.   Taxes will be estimated.

Parcel 5:

Combination of Parcels 1 & 2 together!

AUCTIONEERS NOTE:  Prospective buyers are encouraged to conduct their own due diligence and check the properties out. Each unit is in need of some updating and maintenance. Both parcels are being sold in AS-IS condition. There are currently 5 units being rented. After closing, new contracts will need to be made with the new owners and the tenants. All tenants are aware of the auction and know their tenancy status. These apartments have been income based and were financed by the USDA. Rent is paid by the tenant and a Rural Housing Development voucher. A Restrictive Use Covenant – The Last Existing Tenant applies to buyer.  Come prepared to buy!

TERMS:  A 10% nonrefundable earnest money deposit is due day of sale. Balance is due on or before December 31, 2026. The title insurance and closing fee will be split 50/50 between buyer and seller. Real Estate Taxes will be paid by seller for the 2026 taxes due in 2027. This property is sold without contingencies, guarantees, warranties, and will be sold subject to board approval. All information is deemed correct but not guaranteed. Statements made on sale day take precedence over all written material.

Wieman Land & Auction Co. LLC is representing the sellers in this transaction. No buyer representation is given. Come prepared to buy!

Marion Townhouse Apartments, Inc.  – Owner

Wieman Land & Auction Co., Inc.                                                                                     Wieman Land & Auction Co., Inc.               
Auctioneers/RE Brokers                                                                                                          Closing Agent
Marion, SD – 800-251-3111