GREAT PRICE. GREAT CONDITION. Nearly a 9% cap rate investment calculated using a 5% vacancy & excellent rental history (no capex reserve included). Seller financing terms, in the form of a 2nd mortgage, for example, may be considered. Other duplex properties also available. Listed by Tony Marshall, CINC Realty, 605-391-8669.
PRICED TO SELL! BUILT IN 2007. Listed by Tony Marshall, CINC Realty, 605-391-8669. Well performing investment property with each unit nearly 900 sqft + 2 CAR GARAGE. Rents are $1,350 for the upstairs and the RAISED RANCH basement was recently rented for $1,435 which includes rent for the 2 car garage. Landlord pays for water and the tenants pay the rest. There are multiple other income properties that could potentially be sold with this property. Some seller financing terms may be possible.
Opportunity meets versatility in Sunnyside Subdivision! Conveniently located just minutes from downtown, this 3-bedroom, 2-bath property offers a unique setup, with plenty of potential for homeowners and investors alike. Currently configured as a duplex, the main level features 2 bedrooms and 1 bath, while the lower level offers an additional 1 bedroom and 1 bath. Continue using the property as a duplex, transform it into a single-family home, or bring your vision and updates to unlock its full potential. A detached 2-stall garage and additional off-street parking add even more functionality. Whether you are looking for an investment, a renovation project, or a property you can make your own, this property offers the location, flexibility, and opportunity to make it happen.
One-of-a-kind West Boulevard property offering over 4,000 sq ft and incredible versatility! Situated on a beautifully established .30-acrecorner lot, this distinctive ranch style home features 4 bedrooms, 4.5 baths, and an attached 2-car garage. The home offers two separate living quarters, each with its own full kitchen, making it ideal for multigenerational living, extended family, guests or simply enjoying independent spaces under one roof. Three of the four bedrooms feature en suite bathrooms, providing exceptional privacy and convenience. Expansive living areas are filled with natural light from oversized windows and glass doors, while two wood-burning fireplaces add warmth and classic character. The main kitchen features rich dark stained wood cabinetry and counter space, a large island/breakfast bar, stainless steel appliances and an indoor grill. Main-floor laundry includes a salon chair and salon sink, with additional laundry in the basement. Outside is where this property truly shines! An expansive concrete patio surrounded by mature trees creates a private outdoor retreat complete with an outdoor mini kitchen, fruit trees and raised garden beds. Privacy fencing, established landscaping, outdoor lighting and a sprinkler system complete the setting. A rare combination of size, character, privacy and flexibility in Rapid City's desirable West Boulevard area. BUYER INCENTIVE! Seller offering a 3% credit with an accepted purchase agreement and closing in October! Use the credit toward a rate buydown, closing costs, prepaids, flooring allowance, or other eligible expenses.
Rare opportunity to acquire a very well-established and well-maintained income producing 80-unit apartment property in Southeast Rapid City. Sitting on approximately 8.69 acres, the property offers a unique setting with all 80 residences arranged as single-level units and 57 garages. The unit mix consists of attractive two- and three-bedroom floor plans. The property has demonstrated consistently strong occupancy with a wait list. Residents can enjoy a recently renovated clubhouse featuring a large community gathering room, two private offices, 2 restrooms, a kitchen, and laundry facilities with coin operated washer and dryers. Additional outdoor amenities include a basketball court and playground. With its single-story configuration, substantial acreage, established occupancy history, and on-site amenities, this property represents an opportunity to acquire a sizable multifamily asset in Rapid City, close to local amenities. For additional information or to schedule a showing, contact Ariel Rudland, West River Realty 605-786-4816 or Travis Haan, Black Hills Realty 605-415-2344
This frame stucco, nonconforming side-by-side duplex could also work for multi-generational families. Unit 118 features 2 bedrooms, a backyard shed, and a fenced backyard with parking on the street. Unit 120 features 2 bedrooms, a fenced back yard, a shared driveway & 1-stall garage. There is a blocked doorway connecting the two units that could possibly be reopened if desired. Unit 118 tenant broke the lease in September, but was paying $895/mo; unit 120 tenant plans to leave sometime in October and currently pays $925/mo. Laundry hook-ups are in place, but tenants supply their own washer, dryer, and window AC units. Actual income (including late fees) & expenses for 2025 are listed, providing a cap rate of >8%. Listing Agent is an officer of the LLC holding this property.
This legal nonconforming up/down duplex with a walk-out basement has been recently updated with a new roof & hot water heater in 2025 & a new basement wall heater in 2024. Unit 1 upstairs features 2 bedrooms, 3 off-street parking spaces, and a fenced front & side yard. Unit 2 downstairs features 1 bedroom, lots of extra storage, 2 off-alley parking spaces, and a fenced back yard. There is no interior stairway connecting the two units, but the rent from unit 2 could offset a substantial portion of the mortgage for anyone wanting to live in unit 1. Unit 1 tenants are leaving by 9/30/26, but have paid $940/mo the past 2 years; unit 2 tenant (Section 8 subsidized) would like to stay with her 2 cats and currently pays $825/mo (including $60/mo in pet rent). Both units have laundry hookups, but tenants supply their own washer & dryer. Upstairs tenant owns the window AC units, but downstairs window AC unit conveys with purchase. Actual income & expenses for 2025 are listed, but current rents are below market rates to minimize vacancy. Seller is willing to consider concessions to the Buyer. Listing Agent is an officer of the LLC holding this property.
ATTENTION INVESTORS! Excellent opportunity to acquire a 165-unit apartment complex consisting of 11 buildings with 15 apartments per bldg, + 72 garage stalls. The property includes 4 garage buildings with 18 stalls each, currently renting for $100/mo per stall. Each apartment building features 3 studio units at approx 558 sq ft renting for $900/mo, 6 one-bedroom/one-bath units at approx 774 sq ft renting for $1,100/mo, and 6 two-bedroom/two-bath units at approxx 1,013 sq ft renting for $1,400/mo. Apartments feature Whirlpool stainless steel refrigerator, range, microwave & dishwasher, along with a white stackable washer/dryer in each unit. Interior finishes include carpeted bedrooms, LVF vinyl flooring throughout kitchens, living rooms, bathrooms & laundry closets, laminate countertops, stainless steel sinks & blinds throughout. Exterior & common-area features include Trex maintenance-free decking, metal railings & balconies, maintenance-free fencing along the rear retaining wall, complete landscaping with plantings, sod & sprinkler system, and a fire suppression system approved by the Rapid City Fire Department. All 72 garages are drywalled & taped & include garage door openers with remotes. Tenants are responsible for electricity. Owner pays garbage, sewer, water, lawn care & snow removal. Current professional property management is in place and the property maintains high occupancy. Listing agent is a member of the seller
ATTENTION INVESTORS! Excellent opportunity to acquire a 165-unit apartment complex consisting of 11 buildings with 15 apartments per building, plus 72 garage stalls. The property includes 4 garage buildings with 18 stalls each, currently renting for $100/month per stall. Each apartment building features 3 studio units at approximately 558 sq ft renting for $900/month, 6 one-bedroom/one-bath units at approximately 774 sq ft renting for $1,100/month, and 6 two-bedroom/two-bath units at approximately 1,013 sq ft renting for $1,400/month. Apartments feature Whirlpool stainless steel refrigerator, range, microwave and dishwasher, along with a white stackable washer and dryer in each unit. Interior finishes include carpeted bedrooms, LVF vinyl flooring throughout kitchens, living rooms, bathrooms and laundry closets, laminate countertops, stainless steel sinks and blinds throughout. Exterior and common-area features include Trex maintenance-free decking, metal railings and balconies, maintenance-free fencing along the rear retaining wall, complete landscaping with plantings, sod and sprinkler system, and a fire suppression system approved by the Rapid City Fire Department. All 72 garages are drywalled and taped and include garage door openers with remotes. Tenants are responsible for electricity. Owner pays garbage, sewer, water, lawn care and snow removal. Current professional property management is in place and the property maintains high occupancy. Listing agent is a member of the selling LLC. Broker Owned.
Charming Historic Multifamily Home with Garage! Located in the West Boulevard Historic District, this beautifully maintained multifamily home offers great investment potential or an ideal owner-occupied setup. The main floor unit features hardwood floors and abundant natural light, while the lower-level unit has a private entrance, ample storage, and a smart layout for rental income or extended living. Garage and off-street parking provide added convenience—rare in this sought-after neighborhood. Just minutes from downtown Rapid City, Main Street Square, parks, dining, and shopping, this home blends historic charm with modern comfort in a prime location where rentals lease quickly. Property is currently leased. Whether you're looking for a home with rental income or a full investment property, this is an opportunity you won't want to miss! Contact Listing Broker: Shannon Brinker-True North Asset Group- 6054307750
Listed by Shauna Sheets, KWBH, 605-545-5430. **MOTIVATED SELLER!!** Looking to build your investment portfolio? Check out this centrally located Up/Down duplex offering flexibility, value and an opportunity for easy instant equity! Offering flexible living options, the main level unit is filled with great natural light and beautiful wood floors.The functional layout includes 3 bedrooms and 1 full bathroom, a corner kitchen with 2-tone ceiling-height cabinetry, convenient bar seating, and all appliances stay. The ground level Studio apartment has a separate secured entrance, and a functional layout with sleeping space, cozy kitchenette (all appliances stay) and a bathroom with walk in shower. Common laundry and storage area. Upper unit has a covered back deck, and lower unit has access to the partially fenced back yard. Plenty of off street parking via the alley, and a 1-car garage. Live on one level and rent the other, or use the entire home for a great income producing property- this affordable home offers great BANG for your buck. Call today. *Property is a non-conforming multi-unit home, and has 1 meter for utilities.
Listed by Shauna Sheets, KWBH, 605-545-5430. **MOTIVATED SELLER!!** Looking to build your investment portfolio? Check out this centrally located Up/Down duplex offering flexibility, value and an opportunity for easy instant equity! Offering flexible living options, the main level unit is filled with great natural light and beautiful wood floors.The functional layout includes 3 bedrooms and 1 full bathroom, a corner kitchen with 2-tone ceiling-height cabinetry, convenient bar seating, and all appliances stay. The ground level Studio apartment has a separate secured entrance, and a functional layout with sleeping space, cozy kitchenette (all appliances stay) and a bathroom with walk in shower. Common laundry and storage area. Upper unit has a covered back deck, and lower unit has access to the partially fenced back yard. Plenty of off street parking via the alley, and a 1-car garage. Live on one level and rent the other, or use the entire home for a great income producing property- this affordable home offers great BANG for your buck. Call today. *Property is a non-conforming multi-unit home, and has 1 meter for utilities.
This home has functioned as as a single family home and a duplex. It is conveniently located near downtown and right around the corner from local favorite, Black Hills Bagels! Main level has 2 bedrooms and a bathroom plus kitchen and dining. The bedrooms feature the original hardwood floors. Basement unit has a second kitchen space (14 x 11) and another living room with bedroom and bath. There is an attached garage! Upstairs unit has front door entrance. Lower unit has the side entrance by garage. Laundry is located in the home but in a common area
Gorgeous 4,100+ sq ft brick triplex showcasing the character and craftsmanship of 1950s architecture, positioned to be the flagship of any real estate investment portfolio. Mature trees create a welcoming backdrop for three well-designed units ideal for both owner-occupants and investors. The two main-level units each feature two bedrooms, one bathroom, central air, dishwashers, and direct access to the shared commons area and backyard retreat. One unit includes a private garage, while the other offers off-street parking. Both enjoy convenient access to coin-operated laundry and dedicated storage. The spacious lower-level unit offers two bedrooms and two bathrooms, including a Jacuzzi tub, plus a large family room with a vaulted ceiling, making it a standout rental option. Each unit has its own furnace and water heater, and the property includes a detached two-car garage. Be sure to check out the well conditioned neighborhood and proximity to the city park, bike path & city rec. center. Seller financing in the form of a second mortgage may be available to help reduce down-payment requirements. Additional investment properties also available. Listed by Tony Marshall, CINC Realty, 605-391-8669.
View this investment property today! Outstanding long term investment performance with low vacancy rates, maintenance free siding, fenced yards both front and back, 24x24 detached garage with alley access, off-street parking and secured leases until 2027. Potential seller financing in the form of a 2nd mortgage to help reduce the down payment requirement may be available to qualified buyers. Other investment properties currently listed may be included with this offer. Listed by Tony Marshall, CINC Realty, 605-391-8669.
Listed by Tony Marshall, CINC Realty, 605-391-8669. Well maintained duplex offering a solid and high performing investment opportunity. The upper unit features two spacious bedrooms, a full bath, a bright living room, and a kitchen with in unit laundry. A walkout deck off the kitchen provides excellent outdoor space. The walkout lower unit features abundant light with two bedrooms, a full bath, kitchen with laundry, and a comfortable living room. It also includes a private entrance and a patio area. Each unit enjoys its own fenced yard, dedicated storage shed, and off street parking. Tenants pay electric and gas, while the owner covers water/sewer/trash. Kitchen appliances are included in both units. Whether you're looking to expand your investment portfolio or prefer to live in one unit and rent the other, this duplex offers flexibility and value. Conveniently located near shopping, restaurants, and major employers for an easy daily commute. Seller financing in the form of a 2nd mortgage may be available to qualified buyers allowing for a very low down payment. Could be included with other duplex investment properties in the area.
Inquire about the incredible investment performance of this income property with very low vacancy rates and potential 2nd mortgage seller financing option to qualified buyers. Year leases in place and solid rent rolls available upon request. Could be combined with other MLS listings. Listed by Tony Marshall, 605-391-8669, CINC Realty.
2 HOMES. Projected Income Potential $43,000 Plus! BUYER'S PLEASE NOTE- Both homes must be sold as 1 unit. Please talk to your lender to see their loan qualifications for 2 homes on a property with 1 being a tri-plex. If you were to do a search for 402 E Madison only 1 of the homes shows up. Front home is a tr-plex built in 1946. Would make for a great owner-occupied property and have rental income. Property has 3 separate units with separate private entry, separate heating/AC units, separate electric meters, common utility room where each unit can have their own washer & dryer. Owner pays the gas, water & garbage. Tenants pay electric. Home electrical updated to breaker boxes. Main floor has 2 bedrooms, large living room & formal dining area. This unit normally has the option to rent the garage. Recent updates include new carpet in living room, new kitchen counter, and new tub surround. Gas forced air heating unit with electric central air. Upper-level unit is 1 bedroom unit with electric mini-split for heat & air conditioning. Recently updated all windows in that unit except for 1. Lower-level 1 bedroom unit has new carpeting. The 2nd Home in back is identified by Pennington County as Parcel ID-21-31-181-008 and also as 402 E Madison St. This 2- bedroom home was built in 1925. Home has 2023 Empire natural gas heater and electric radiant heat. There is an outside entry door to crawl space where city water meter is connected. PLEASE NOTE: Home is NOT vacant. The pictures are prior to current tenants. Please DO NOT walk around home or bother tenants. Property shown to Lender Qualified Buyers Only. Real Estate Taxes and Insurance numbers are for BOTH properties combined. Owner Jim Biers is a Licensed Real Estate Broker.
Listed with Cierra VanderPol, Black Hills Realty, 605-593-1909 - Looking for a unique income-producing opportunity? Welcome to Corbin Drive! Situated on 0.69 acres, this versatile property features 2 homes with 2 finished rentable units and one unfinished, offering endless possibilities for investors and owner-occupants alike. The main home is currently configured with an upper-level unit featuring 2 bedrooms and 1 bathroom, while the unfinished lower level is ready to be completed into an additional 1 bedroom, 1 bathroom unit, creating even more income potential. Also included is a 1975 single-wide mobile home offering 2 bedrooms and 1 bathroom, providing an additional rental opportunity. Whether you're looking to live in one unit while the others help pay your mortgage, lease all three units to maximize cash flow, explore the opportunity to sell the homes separately, or make the duplex into a single-family home, this property offers exceptional flexibility. Current tenants are in place, with a 60-day notice required to vacate. With multiple income streams and future expansion potential, this is a rare investment opportunity you won't want to miss. Property is being sold as is. Schedule your private showing today!
Listed with Cierra VanderPol, Black Hills Realty, 605-593-1909 - Looking for a unique income-producing opportunity? Welcome to Corbin Drive! Situated on 0.69 acres, this versatile property features 2 homes with 2 finished rentable units and one unfinished, offering endless possibilities for investors and owner-occupants alike. The main home is currently configured with an upper-level unit featuring 2 bedrooms and 1 bathroom, while the unfinished lower level is ready to be completed into an additional 1 bedroom, 1 bathroom unit, creating even more income potential. Also included is a 1975 single-wide mobile home offering 2 bedrooms and 1 bathroom, providing an additional rental opportunity. Whether you're looking to live in one unit while the others help pay your mortgage, lease all three units to maximize cash flow, explore the opportunity to sell the homes separately, or make the duplex into a single-family home, this property offers exceptional flexibility. Current tenants are in place, with a 60-day notice required to vacate. With multiple income streams and future expansion potential, this is a rare investment opportunity you won't want to miss. Property is being sold as is. Schedule your private showing today!
Listed with Cierra VanderPol, Black Hills Realty, 605-593-1909 - Looking for a unique income-producing opportunity? Welcome to Corbin Drive! Situated on 0.69 acres, this versatile property features 2 homes with 2 finished rentable units and one unfinished, offering endless possibilities for investors and owner-occupants alike. The main home is currently configured with an upper-level unit featuring 2 bedrooms and 1 bathroom, while the unfinished lower level is ready to be completed into an additional 1 bedroom, 1 bathroom unit, creating even more income potential. Also included is a 1975 single-wide mobile home offering 2 bedrooms and 1 bathroom, providing an additional rental opportunity. Whether you're looking to live in one unit while the others help pay your mortgage, lease all three units to maximize cash flow, explore the opportunity to sell the homes separately, or make the duplex into a single-family home, this property offers exceptional flexibility. Current tenants are in place, with a 60-day notice required to vacate. With multiple income streams and future expansion potential, this is a rare investment opportunity you won't want to miss. Property is being sold as is. Schedule your private showing today!
Most duplexes need work before they give cash flow. This one does not. Located in the heart of Rapid City's north side, this duplex offers a 2 bedroom, 1 bath upstairs unit with a covered front porch, and a 1 bedroom, 1 bath downstairs unit, with new carpet, paint, and windows already in place across both. That is less capital out of pocket and more room in your return from day one. The fenced front and back yard, onsite laundry hookups, and two sheds are the kind of tenant friendly touches that keep occupancy steady. If you have been waiting for a duplex that works without a renovation punch list, this is it. Book your showing today! Note: One of the Sellers, Heath Shields, is a licensed real estate agent in the state of South Dakota.
OPEN HOUSE 09/10/26 11am - 1pm $ PRICE REDUCTION INVESTOR ALERT! PRICE REDUCTION (Tri-Plex: Home + Finished Basement Suite + Detached ADU) Unlock the rare opportunity to live in your own home while your tenants help pay the mortgage. This versatile property functions as a non-conforming triplex, offering three unique living spaces: a main-floor residence, a fully finished lower-level suite, and a detached one-bedroom efficiency cottage. Whether you’re an investor, a house-hacker, or someone looking to offset monthly expenses, this property delivers immediate income and long-term potential. Upgrades throughout including electrical updates. FINANCIALS AND UTILITY REPORTS AVAILABLE UPON REQUEST WITH SIGNED NDA; long term tenant main floor (showings best between 3 and 5 and no showings Fridays at 5:00 through Saturday at 5:00 (sabbatical for owners)
8 Mobile Homes for Sale Brookdale Estates Listed by Drew Yeoman Black Hills Realty 605-484-5392 Investment opportunity in Brookdale Estates featuring 8 mobile homes available for purchase. With flexible purchase options, buyers can acquire one property, all eight, or any combination in between. Lots included: 9, 66, 77, 78, 142, 161, 167 & 187 (Rented Lots @ $535/month + tenants pay utilities) 6 of the 8 homes are currently rented, providing an opportunity for immediate rental income and portfolio growth. Whether you're an investor looking to add an individual rental to your portfolio or seeking a larger investment package, this offering provides the flexibility to build the purchase that best fits your investment goals. Flexible Purchase Options Available — Buy One, Several, or All 8!
OPEN HOUSE 09/10/26 11am - 1pm $ PRICE REDUCTION INVESTOR ALERT! PRICE REDUCTION (Tri-Plex: Home + Finished Basement Suite + Detached ADU) Unlock the rare opportunity to live in your own home while your tenants help pay the mortgage. This versatile property functions as a non-conforming triplex, offering three unique living spaces: a main-floor residence, a fully finished lower-level suite, and a detached one-bedroom efficiency cottage. Whether you're an investor, a house-hacker, or someone looking to offset monthly expenses, this property delivers immediate income and long-term potential. Upgrades throughout including electrical updates. FINANCIALS AND UTILITY REPORTS AVAILABLE UPON REQUEST WITH SIGNED NDA; long term tenant main floor (showings best between 3 and 5 and no showings Fridays at 5:00 through Saturday at 5:00 (sabbatical for owners)
Rapid City is located in South Dakota. Rapid City, South Dakota has a population of 73,942. Rapid City is less family-centric than the surrounding county with 27.21% of the households containing married families with children. The county average for households married with children is 27.5%.
The median household income in Rapid City, South Dakota is $58,072. The median household income for the surrounding county is $62,546 compared to the national median of $69,021. The median age of people living in Rapid City is 38.1 years.
The average high temperature in July is 85.3 degrees, with an average low temperature in January of 14.2 degrees. The average rainfall is approximately 18.2 inches per year, with 38 inches of snow per year.
