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728-748 E Main Street

Sturgis, SD 57785
  • $1,399,900
  • STATUS: Active Under Contract
  • ON SITE: 96 Days
  • MLS #: 79777
Under Contract
UPDATED: 81 min ago
$1,399,900
  • 0
    BEDS
  • 1.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1970
Area:

School Ratings & Info

School District:

Description

Here's your prime investment opportunity! Welcome to Key City Manor Apartments, located just blocks from downtown Sturgis. This property is a 32-unit HUD apartment building (with an HAP contract) featuring 16 one bedroom, one bathroom units and 16 efficiency, one bathroom units. Four sets of coin-op washer and dryers are located on the property, offering an additional income source, both an indoor and outdoor common area for tenants and ample off-street parking for each unit. This property has a record of a low vacancy rate of 93% and historic rent increases through HUD. Various capital improvements have been made in recent years including updated flooring and appliances in some units, new water heaters and boiler pumps, new exterior doors, one new coin-op washing machine, extensive concrete work in sidewalks and a new roof in 2022. Maintenance, management and vendors in place should a buyer choose to continue with the current operations team. Enjoy a 7% cap rate in this excellent investment! Call for more information today. Listed by Madison Reeves, Keller Williams Realty Black Hills - Spearfish (605) 569-9019

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© 2024 Mount Rushmore Area Association of REALTORS®., Inc. Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Will Dixon Real Estate at Keller Williams Realty Black Hills. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Mount Rushmore Area Association of REALTORS® Multiple Listing Service. Real estate listings held by brokerage firms other than Will Dixon Real Estate at Keller Williams Realty Black Hills are marked with the Broker Reciprocity™ logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Data last updated: 2024-07-24T22:44:57.47.
www.willdixonrealestate.com/homes/149250029
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728-748 E Main Street Sturgis, SD 57785

  • Price: $1,399,900
  • Status: Active Under Contract
  • On Site: 96 Days
  • Updated: 81 min ago
  • MLS #: 79777
0
Beds
0
Baths
0
½ Baths
1.16
Acres
1970
Built
Neighborhood:
Sturgis
Area:
Sturgis
School District:
Meade
Property Description
Here's your prime investment opportunity! Welcome to Key City Manor Apartments, located just blocks from downtown Sturgis. This property is a 32-unit HUD apartment building (with an HAP contract) featuring 16 one bedroom, one bathroom units and 16 efficiency, one bathroom units. Four sets of coin-op washer and dryers are located on the property, offering an additional income source, both an indoor and outdoor common area for tenants and ample off-street parking for each unit. This property has a record of a low vacancy rate of 93% and historic rent increases through HUD. Various capital improvements have been made in recent years including updated flooring and appliances in some units, new water heaters and boiler pumps, new exterior doors, one new coin-op washing machine, extensive concrete work in sidewalks and a new roof in 2022. Maintenance, management and vendors in place should a buyer choose to continue with the current operations team. Enjoy a 7% cap rate in this excellent investment! Call for more information today. Listed by Madison Reeves, Keller Williams Realty Black Hills - Spearfish (605) 569-9019
Exterior Features

Construction Brick Exterior Features Shed Parking PavedCommon Roof Composition Siding Other Style 2 Story

Interior Features

Basement Substructure Crawl Space Cooling Window Evap. Entrance Community Entrance Heating Baseboard Number Of Units 32 Systems Breaker

Property Features

Auction YN No Documents On File FinancialsProfit/Loss Statement Extras Storage Flood Plainy NU Unknown For Sale Or Rent For Sale Includes All UnitsRefrigeratorRange/OvenWasherDryer Miscellaneous Pet Restrictions Modular YN No Multi Family Property Type Other Owner Pays Gas/ElectricInsuranceJanitorReal Estate TaxesWater/Sewer Personal Property RefrigeratorElectric Range OvenWasherDryer Pets Allowed YN No Possession Negotiable Safety Features Smoke DetectorsSecurity System Short Sale No Subdivision YN No Tenant Pays Rent Only Terms CashNew Loan Type Of Tenancy Month to MonthOne Year Lease

[Mount Rushmore Area Association of Realtors] logoListing information © 2024 Mount Rushmore Area Association of REALTORS®., Inc
Listing provided courtesy of Madison Reeves of Keller Williams Realty Black Hills SP: 605-343-7500.



© 2024 Mount Rushmore Area Association of REALTORS®., Inc. Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Will Dixon Real Estate at Keller Williams Realty Black Hills. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Mount Rushmore Area Association of REALTORS® Multiple Listing Service. Real estate listings held by brokerage firms other than Will Dixon Real Estate at Keller Williams Realty Black Hills are marked with the Broker Reciprocity™ logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Data last updated: 2024-07-24T22:44:57.47.
 
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Will Dixon Real Estate at Keller Williams Realty Black Hills
2401 West Main Street
Rapid City SD, 57702