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$ 531,977
Est. payment /mo
Price Dropped by $17K
1948 Hillsview Dr Rapid City, SD 57702
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Subdivision Sherman
MLS Listing ID 179920
Year Built 1949
Property Sub-Type Multiplex
Property Description
This 5-plex is being offered at $106,395 per unit—this well-maintained 5-unit multi-family property currently generates $49,380 in annual rental income and offers immediate income with long-term potential. With a proven 16-year track record of stable occupancy, the property has demonstrated consistent rental performance. Current average rent is approximately $823 per unit/month, with rental rates believed to be below market, creating an opportunity for future income growth. Situated on approximately 0.9 acres near Canyon Lake Park, schools, shopping and restaurants, the property also includes a 28' x 15' garage, providing valuable additional storage. Improvements within the past five years include updates to roof, siding, windows, doors and electrical systems. Whether expanding an existing portfolio or seeking an established income-producing property, 1948 Hillsview offers an attractive combination of rental history, location, price per unit and potential upside.
Location
State SD
County Pennington
Area Southwest
Zoning Conforming
Interior
Heating Forced Air, Natural Gas
Cooling Central, Window
Exterior
Roof Type Composition
Building
Foundation None
Sewer City (at site)
Water City (at site)
Listed by COLDWELL BANKER BLACK HILLS LEGACY