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Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Subdivision Hughes Tract
MLS Listing ID 175547
Style 2 Story
Year Built 1987
Property Sub-Type Fourplex
Property Description
Investment Opportunity... Rare fourplex by Canyon Lake! This westside Rapid City located westside four-plex brings in consistent rental income with extremely low vacancy rate. Each unit has 2 bedrooms, 1 bathroom, and full kitchen. Separately metered units with electric baseboard & cove heat. One tenant said it averages around $100 per month. Large 918 sf units per DOE. All four units are fully occupied 1-year leases with 60-day notice. Units 1 & 2 are upstairs. Units 3 & 4 are downstairs. Separate coin laundry available with keyed entrance. Bottom two units have recently been remodeled. Owner pays gas ($174 total last year), water, sewer & trash ($3,001 in '24). Tenant pays electricity. Unit four bathroom is handicap accessible. Photos from Unit 1. Other unit photos available. One other unit has newer trim/doors etc. Lakeview is one street North of Jackson Blvd. Easy walk to Canyon Lake Park and the bike path! 3,712 sf per County, priced at only $205 per foot! Cost of new construction might be $300-400/ft, let alone trying to find a a multi-family westside lot.
Location
State SD
County Pennington
Area Southwest
Zoning Conforming
Interior
Heating Electric, Baseboard, Other
Cooling Electric, Wall
Exterior
Roof Type Composition
Building
Foundation Slab, Poured Concrete
Sewer City
Water City
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Listed by SUN REAL ESTATE