Skip To Content

610 E North

Rapid City, SD 57701
  • $2,195,000
  • STATUS: Active
  • ON SITE: 72 Days
  • MLS #: 164743
$2,195,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Business Opportunity
County:
Area:

School Ratings & Info

Description

Great investment opportunity in the affordable rental market. Budget Inn currently operates as a weekly/monthly rental business with 38 total rental units. The main building consists of 26 fully furnished studio units on two levels with a full basement for laundry and storage of equipment/furniture. There are 11 stand alone cabins ranging in size from studio to 2 bedroom, most with kitchenette and dedicated parking. All rental units have fire sprinklers. The office building has the rental office on the main floor with a managers apartment on the upper level. Weekly rates range from $230-$250/unit, monthly rates range from $840-$880/unit. With reduced inventory in the north Rapid City rental market and the lack off affordable housing, the property runs near 100% occupancy at all times.

Monthly Payment Calculator



© 2023 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: 2023-09-25T00:16:30.467.
www.rapidcityhomes4sale.com/homes/141480420
Print Image

610 E North Rapid City, SD 57701

  • Price: $2,195,000
  • Status: Active
  • On Site: 72 Days
  • MLS #: 164743
0
Beds
0
Baths
0
½ Baths
N/A
Acres
Neighborhood:
North
County:
Pennington
Area:
North
Property Description
Great investment opportunity in the affordable rental market. Budget Inn currently operates as a weekly/monthly rental business with 38 total rental units. The main building consists of 26 fully furnished studio units on two levels with a full basement for laundry and storage of equipment/furniture. There are 11 stand alone cabins ranging in size from studio to 2 bedroom, most with kitchenette and dedicated parking. All rental units have fire sprinklers. The office building has the rental office on the main floor with a managers apartment on the upper level. Weekly rates range from $230-$250/unit, monthly rates range from $840-$880/unit. With reduced inventory in the north Rapid City rental market and the lack off affordable housing, the property runs near 100% occupancy at all times.
Exterior Features

Location Free Standing View City

Property Features

Auction YN No Business Entity Llc Business Type Accomodation Documents On File Financial Statements Employees 1 - 5 Land Included Real Estate Included Real Estate Include in PriceOwned Tenant Pays Rent Only

© 2023 Black Hills Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Christopher Long of Keller Williams Realty Black Hills: 605-343-7500.


© 2023 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: 2023-09-25T00:16:30.467.
 
https://bt-photos.global.ssl.fastly.net/blackhills/1280_boomver_1_164743-2.jpg https://bt-photos.global.ssl.fastly.net/blackhills/1280_boomver_1_164743-2.jpg https://bt-photos.global.ssl.fastly.net/blackhills/1280_boomver_1_164743-2.jpg
Logo
Engel & Voelkers Black Hills LLC
519 Main Street
Rapid City SD, 57701