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728-748 E Main

Sturgis, SD 57785
  • $1,399,900
  • STATUS: Active Under Contract
  • ON SITE: 94 Days
  • MLS #: 168141
Under Contract
UPDATED: 44 min ago
$1,399,900
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1970
County:
Area:

School Ratings & Info

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.

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© 2024 Black Hills Association of REALTORS® Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from BHMLS. 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. Data last updated: 2024-07-24T22:16:31.537.
www.willdixonrealestate.com/homes/149614377
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728-748 E Main Sturgis, SD 57785

  • Price: $1,399,900
  • Status: Active Under Contract
  • On Site: 94 Days
  • Updated: 44 min ago
  • MLS #: 168141
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1970
Built
Neighborhood:
Mcmillians East
County:
Meade
Area:
Sturgis
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.
Exterior Features

Construction Brick/Veneer Entrance Community Entrance Lot Size 1.162 acres Lot Type Interior Parking Off SitePaved Roofing Composition Style 2 StorySide/SideUp & Down View City

Interior Features

Cooling Window Foundation Crawl Space Heating Baseboard

Property Features

Auction YN No Documents On File Other Features LR/DR Combo Includes All UnitsRefrigeratorRange/OvenWasherDryer Miscellaneous Pet Restrictions Multifamily Type Other Possession Negotiable Safety Features Security SystemSmoke Detectors Sewer City Tenancy Type 1 Year LeaseMonth to MonthMultiple Vacancy Rate 0 - 5% Water City Will Sell CashNew Loan Zoning Unknown

© 2024 Black Hills Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Madison Reeves of KELLER WILLIAMS REALTY BLACK HILLS - SPEARFISH: 605-717-0002.


© 2024 Black Hills Association of REALTORS® Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from BHMLS. 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. Data last updated: 2024-07-24T22:16:31.537.
 
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Will Dixon Real Estate at Keller Williams Realty Black Hills
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