RAPID CITY MULTIFAMILY COMPLEX FOR SALE

762 Earleen Street, Rapid City, SD 57701, Rapid City, South Dakota, 57701

Photos

* Sold

$1,050,000

MLS: 26015-19911

0.25 Acres

2,613 SqFt

12 beds

6.0 baths

What You Should Know

Rapid City Investment Property
Blackhills Townhomes for Sale
Blackhills Investment Property
Income Producing Property
Rapid City Townhomes For Sale
Value Add Investment Property

Why You'll Love It

Blackhills Sixplex for Sale

The Apartments on Earleen are composed of six modern two bedroom apartments, located in Rapid City, SD. The complex also features eight garages immediately adjacent. The Apartments on Earleen represent an excellent investment opportunity as the current rents are below market with the value-add option of adding laundry, pet rent, and seperate garage rental. Additionally each unit has the ability to be sold separately if desired. The complex is fully occupied with four tenants on month-to-month leases.

Major Value Add Multifamily Property for Sale

The booming housing marking in Rapid City and the greater Blackhills region has caused a proportionately significant increase in the long term rental market. The current rental rates in place are significantly under market, an additional 20-25 percent could be added to match competing properties. Adding in-unit laundry and charging seperately for garage space are two additional forms increased revenue streams.

Rapid City Multifamily Townhomes For Sale

Rapid City is the major regional hub in western South Dakota and is one of the fastest growing cities in the country. Located in the stunning Black Hills the area offers tremendous recreation and excellent healthcare. The two largest employers are Monument Health and Ellsworth Air Force Base, the area continues to add new employers with expanding career opportunities. The property is located just minutes from the redeveloped Uptown Rapid shopping and dining district, formerly the Rushmore Mall as well as the proposed $50 million consolidated VA outpatient clinic with quick access to I-90.

Fiancial statements available upon request