NOT LISTED FOR SALE

118 Main St Rapid City, SD 57701

Downtown Rapid City Neighborhood
-- Bed
-- Bath
8,600 Sq Ft
7,405 Sq Ft Lot

Last Sold January 29, 2021

Last sale price $1,185,000 $138 Per Sq Ft

Highlights

  • Public Water Access
  • Interior Lot
  • Central Air
  • City View
  • Concrete Block With Brick
  • Private Entrance

About This Home

As of January 2021

Opportunity to buy into the growth of Downtown Rapid City! New 9-unit apartment building in the East of 5th development in Downtown Rapid City. Completed in 2017, property located between 1st and 2nd St on the north side of Main St was gutted to the shell and reconfigured into 7 one bedroom units, 1 two bedroom unit on the 2nd floor, and a storefront office suite with covered parking adjacent to the building. Each unit has an open concept design with modern amenities - in-unit washer/dryer, dishwasher, kitchen island, hard surfaces throughout, cathedral ceilings, skylights, and large closet. Neighbors Armadillo's Ice Cream, BHFCU to the west, Fairmont Creamery Building and Dakotah Bank across the street. Close to SDSM&T, Rapid City parks and bike trails, Rapid City Civic Center, restaurants and nightlife. Growth potential with under market rents, unrealized parking income and possibility for vacation rental use. Listed by Chris Long, 605-939-4489, Keller Williams Realty Black Hills.

Last Agent to Sell the Property

Chris Long

KELLER WILLIAMS REALTY BLACK HILLS Listed on: 10/05/2020

KELLER WILLIAMS REALTY BLACK HILLS

Last Buyer's Agent

Peter Schmid

CINC REALTY LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,851

Year Built

  • Built in 1959

Lot Details

  • Private Entrance
  • Interior Lot

Home Design

  • Concrete Block With Brick
  • Block Foundation

Interior Spaces

  • 8,600 Sq Ft Home
  • 2-Story Property
  • City Views

Parking

  • Carport
  • Paved Parking

Outdoor Features

  • Public Water Access

Utilities

  • Central Air
  • Heating System Uses Gas
  • Public Septic

Community Details

  • 9 Units
  • Original Town Subdivision

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,851

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Type: Multiplex
  • Style: 2 Story
  • Lvt Date: 10/05/2020
  • View: City
  • Year Built: 1959
  • Safety Features: Sprinkler System
  • Includes: All Units, Refrigerator, Range/Oven, Dishwasher, Washer, Dryer
  • Miscellaneous: Individual Heat & Air
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Entrance: Private Entrance
  • Main Level Sq Ft: 8600
  • Total Sq Ft: 8600

Exterior Features

  • Construction: Concrete Block
  • Foundation: Concrete Block

Garage/Parking

  • Parking: Paved, Carport

Utilities

  • Air Conditioner: Central
  • Heating: Gas
  • Sewer: City
  • Water: City

Lot Info

  • Lot Size: 0.43
  • Lot Type: Interior
  • Zoning: Conforming

Rental Info

  • Type of Tenancy: 1 Year Lease, Multiple
  • Who Pays Electricity: Tenant
  • Who Pays Gas: Tenant
  • Who Pays Trash: Owner
  • Who Pays Water Sewer: Owner

Tax Info

  • Year: 2019
  • Taxes: 20851

Multi Family

  • Number Of Units: 9
  • Vacancy Rate: 0 - 5%
  • Unit Features: All Units, Window Coverings, LR/DR Combo

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/29/2021 01/29/21 Sold $1,185,000 -5.2% $138 / Sq Ft
10/05/2020 10/05/20 For Sale $1,250,000 -- $145 / Sq Ft
Source: Black Hills Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Chris Long

    Seller's Agent in 2021

    Chris Long

    KELLER WILLIAMS REALTY BLACK HILLS

    (605) 939-4489

    18 in this area

    164 Total Sales

    Chris Long
    Section Image
  • Peter Schmid

    Buyer's Agent in 2021

    Peter Schmid

    CINC REALTY LLC

    (605) 348-1453

    2 in this area

    4 Total Sales

    Peter Schmid
    Section Image
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Map

Source: Black Hills Association of REALTORS®

MLS Number: 151494

Black Hills Association of REALTORS®
South Dakota Pennington County Rapid City 57701 Downtown Rapid City

118 Main St, Rapid City, SD

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Black Hills Association of REALTORS® IDX information is provided exclusively for 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 not guaranteed.

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