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KadieBeth Lang

kadie.lang@engelvoelkers.com +1(605) 391-3622

$ 531,977

Est. payment -/mo

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1948 HILLSVIEW DR Rapid City, SD 57702

6 Beds

2,645 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Residential Income

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,645 sqft

Price per Sqft $201

Subdivision Sherman

MLS Listing ID 179920

Bedrooms 6

HOA Y/N No

Year Built 1949

Lot Dimensions 0.9

Property Sub-Type Multiplex

Property Description

This 5-plex is being offered at $106,395 per unit—this well-maintained 5-unit multi-family property currently generates $49,380 in annual rental income and offers immediate income with long-term potential. With a proven 16-year track record of stable occupancy, the property has demonstrated consistent rental performance. Current average rent is approximately $823 per unit/month, with rental rates believed to be below market, creating an opportunity for future income growth. Situated on approximately 0.9 acres near Canyon Lake Park, schools, shopping and restaurants, the property also includes a 28' x 15' garage, providing valuable additional storage. Improvements within the past five years include updates to roof, siding, windows, doors and electrical systems. Whether expanding an existing portfolio or seeking an established income-producing property, 1948 Hillsview offers an attractive combination of rental history, location, price per unit and potential upside. Seller will consider an Owner Carry. Please reach out for more details.

Location

State SD

County Pennington

Area Southwest

Zoning Conforming

Direction On the corner of Canyon Lake drive and Hillsview Drive. Turn on Hillsview, property is on the right. There is no sign.

Interior

Interior Features Some Units

Heating Forced Air, Natural Gas, Fireplace(s)

Cooling Central Air, Window Unit(s)

Fireplaces Number Yes

Fireplace Yes

Window Features Window Coverings

Exterior

Exterior Feature Private Entrance

Parking Features See Remarks

View Y/N No

View Trees/Woods

Roof Type Composition

Garage No

Building

Foundation None

Sewer City (at site)

Water Public

Level or Stories One

Listed byCOLDWELL BANKER BLACK HILLS LEGACY

NEARBY SCHOOLS & PROPERTIES

KadieBeth Lang

Broker License ID: 17475

+1(605) 391-3622

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