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230 N Main

Spearfish, SD 57783
  • $2,200,000
  • STATUS: Active
  • ON SITE: 89 Days
  • MLS #: 170021
UPDATED: 29 min ago
$2,200,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1955
County:

School Ratings & Info

Description

This 31-unit apartment complex is located on Main Street in the heart of Spearfish, SD. The property includes 4 separate buildings that are situated on 4 city lots with a total land area of .64 acres and 8,685 square feet of finished space. Current rental rates range from $625-$850/month with a gross monthly rental income potential of $22,375 ($268,500 annual) at 100% capacity. The owner pays for electricity, gas, city water and city sewer. This is one of the few pet-friendly complexes in Spearfish, which has created strong demand for the units. With the exception of the 824 square foot, 1 bed, 1 bath managers suite and office, 30 of the 31 units are studio apartments. There is a large laundry room generating additional income. With more than 1/2 acre of land and 200 feet of frontage on the main corridor through Spearfish, the value of this property will continue to appreciate overtime and the commercial uses will remain endless.

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© 2024 Black Hills Association of REALTORS® Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from BHMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Engel & Voelkers Black Hills LLC. Data last updated: 2024-11-04T12:16:58.553.
www.rapidcityhomes4sale.com/homes/153374391
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230 N Main Spearfish, SD 57783

  • Price: $2,200,000
  • Status: Active
  • On Site: 89 Days
  • Updated: 29 min ago
  • MLS #: 170021
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1955
Built
Neighborhood:
Original Town
County:
Other
Area:
Northern Hills
Property Description
This 31-unit apartment complex is located on Main Street in the heart of Spearfish, SD. The property includes 4 separate buildings that are situated on 4 city lots with a total land area of .64 acres and 8,685 square feet of finished space. Current rental rates range from $625-$850/month with a gross monthly rental income potential of $22,375 ($268,500 annual) at 100% capacity. The owner pays for electricity, gas, city water and city sewer. This is one of the few pet-friendly complexes in Spearfish, which has created strong demand for the units. With the exception of the 824 square foot, 1 bed, 1 bath managers suite and office, 30 of the 31 units are studio apartments. There is a large laundry room generating additional income. With more than 1/2 acre of land and 200 feet of frontage on the main corridor through Spearfish, the value of this property will continue to appreciate overtime and the commercial uses will remain endless.
Exterior Features

Construction Frame Entrance Community Entrance Lot Size 064 Acres Lot Type Flat Parking Paved Roofing Composition Style Other View City

Interior Features

Cooling Window Foundation Crawl Space Heating Gas

Property Features

Auction YN No Documents On File Other Features None Includes All Units Miscellaneous None Multifamily Type Other Possession Negotiable Safety Features Other Sewer City Tenancy Type Negotiable Vacancy Rate 0 - 5% Water City Will Sell CashNew Loan Zoning Unknown

© 2024 Black Hills Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Kade Welfl of THE REAL ESTATE CENTER OF SPEARFISH: .


© 2024 Black Hills Association of REALTORS® Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from BHMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Engel & Voelkers Black Hills LLC. Data last updated: 2024-11-04T12:16:58.553.
 
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Engel & Voelkers Black Hills LLC
517 Main Street
Rapid City SD, 57701