28
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$914,900
Est. payment /mo
2 Beds
Pending
626 N 1ST Rapid City, SD 57701
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Key Details
Property Type Multi-Family, Residential Income
Sub Type Multiplex
Listing Status Pending
Purchase Type For Sale
Subdivision Blakes Add
MLS Listing ID 178594
Bedrooms 2
HOA Y/N No
Year Built 2003
Lot Dimensions .17
Property Sub-Type Multiplex
Property Description
Excellent investment! Opportunity zone for long-term investors in Rapid City! This 8-unit multifamily apartment building features all 2-bedroom, 1-bathroom units — a highly desirable and consistent rental layout. The property is fully sprinkled and includes an exterior sprinkler system for added safety and functionality. The roof and siding have been replaced recently. Extensive exterior renovations have been completed, enhancing both curb appeal and long-term durability. All units have been renovated, with two units updated within the last year. The building maintains a strong occupancy history, with vacancy rates historically ranging between 0–5%, demonstrating solid rental demand and stability. Two shared coin-operated laundry units are located in the common area, providing additional income potential. This turnkey asset offers consistent unit mix, modernized interiors, and proven performance — making it a strong addition to any investor's portfolio. Listed by Josiah LaFrance- L'Avance Real Estate and Capital 605-786-3098
Location
State SD
County Pennington
Area North
Zoning Unknown
Direction From 7th Street turn left onto 5th, turn right onto North, turn left onto East Blvd, Turn left onto Madison, turn left onto N 1st.Destination is on the left.
Interior
Interior Features Common Utility Room
Heating Electric
Cooling Window Unit(s)
Exterior
Parking Features Paved
Utilities Available Separate Meters
View Y/N No
View City
Roof Type Composition
Accessibility Handicap Access
Garage No
Building
Foundation Slab
Listed byL'AVANCE CAPITAL AND REAL ESTATE
Schools and Properties Nearby