402 E MADISON DR, Rapid City, SD 57701
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402 E MADISON DR, Rapid City, SD 57701
402 E MADISON DR, Rapid City, SD 57701
402 E MADISON DR, Rapid City, SD 57701
402 E MADISON DR, Rapid City, SD 57701
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KadieBeth Lang

KadieBeth Lang

+1(605) 391-3622
$ 399,500
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402 E MADISON DR Rapid City, SD 57701

6 Beds

3,612 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Residential Income

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,612 sqft

Price per Sqft $110

Subdivision Wise Add

MLS Listing ID 180531

Bedrooms 6

HOA Y/N No

Year Built 1946

Lot Dimensions .30

Property Sub-Type Quadruplex

Property Description

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.

Location

State SD

County Pennington

Area North

Zoning Conforming

Direction From N Lacrosse St turn west on E Madison St and go 2 blocks west. Home is on N side of street.

Interior

Interior Features Common Utility Room

Heating Electric, Forced Air, Gravity, Radiant

Cooling Central Air

Window Features Window Coverings

Exterior

Parking Features Garage, See Remarks

View Y/N No

Roof Type Composition

Garage Yes

Building

Foundation Concrete Perimeter

Listed byJIM L. BIERS REAL ESTATE

NEARBY SCHOOLS & PROPERTIES

KadieBeth Lang

KadieBeth Lang

Broker License ID: 17475

+1(605) 391-3622

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402 E MADISON DR