$1,800,000
$200K PRICE DROP

200 Montana Ave Lead, SD 57754

Estimated payment $11,306/month

Total Views 6,336
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Home Security System
  • Refrigerated and Evaporative Cooling System
  • Heating Available
  • 1-Story Property

About This Home

Listed by Jeremy Kahler, KWBH, 605-381-7500. Great opportunity to add to your investment portfolio- 23 unit apartment complex in Lead, SD with consistent rental history and great potential to expand! *Based on projections and current rent amounts, occupancy to be about 96% *Property is all on one level, with zero-entry access for easy accessibility, and complies with most ADA requirements *This one building facility has 14 studio apartments, 6- 1 bed/1 bath units and 3- 2 bed/1 bath units *Each apartment has a kitchen/kitchenette space, bathroom with walk in shower and separate heating/cooling units *On-site coin operated laundry room *Safety features include: secured entry, video surveillance and an internal sprinkler system *Common spaces include: rest rooms, communal seating areas (inside and out), rec rooms and storage areas *Front office space for onsite management *Manicured exterior with sprinkler maintained lawn and landscaping, outdoor seating areas and a walkway around the building *Flat private parking lot (1 space/unit) plus 6 assigned covered parking spaces *Great potential to expand- property has multiple storage spaces, public restrooms, a commercial kitchen, set up for an in-house barber shop, and space for potential unit expansion. Centrally located behind Lynns Dakota Mart grocery store. **Seller will consider doing owner financing**

Listing Agent

JEREMY KAHLER

Keller Williams Realty Black Hills SP License #12777 Listed on: 04/07/2025

Keller Williams Realty Black Hills SP

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,414

Year Built

  • Built in 2002

Interior Spaces

  • 1-Story Property
  • Electric Oven or Range

Home Security

  • Home Security System
  • Fire and Smoke Detector
  • Fire Sprinkler System

Parking

  • Covered Parking
  • Common or Shared Parking
  • Paved Parking

Outdoor Features

  • Cove
  • Outbuilding

Utilities

  • Refrigerated and Evaporative Cooling System
  • Heating Available

Listing and Financial Details

  • The owner pays for gas/electric, water/sewer, real estate taxes

Community Details

Overview

  • 23 Units
  • 15,727 Sq Ft Building

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,414

Year Built

Built in 2002

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Basement Substructure: Slab
  • Personal Property: Refrigerator, Electric Range Oven
  • Safety Features: Smoke Detectors, Sprinkler System, Security System
  • Style: 1 Story
  • Systems: Breaker
  • Year Built: 2002
  • Estimated Building Sq Ft: 15727
  • Miscellaneous: Master Meters, Central Water Heater, Individual Heat & Air
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Entrance: Community Entrance

Exterior Features

  • Exterior: Outbuildings, Paved Street

Garage/Parking

  • Parking: Paved, Common, Covered Parking

Utilities

  • Cooling: Refrig. Wall Unit
  • Heating: Electric, Cove

Schools

  • School District: Lead/Deadwood
  • School District: Lead/Deadwood

Lot Info

  • Lot Size: 4.75

Rental Info

  • Pets Allowed: Yes
  • Tenant Pays: Rent Only
  • Owner Pays: Gas/Electric, Water/Sewer, Real Estate Taxes

Tax Info

  • RE Taxes: 17,413.70
  • Re Tax Year: 24

Multi Family

  • Number Of Units: 23

Map

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

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $17,414 $1,040,610 $195,010 $845,600
2023 $19,693 $1,035,790 $190,190 $845,600
2022 $19,729 $958,920 $190,190 $768,730
2021 $21,562 $958,920 $0 $0
2019 $22,117 $922,930 $154,200 $768,730
2018 $22,035 $922,930 $0 $0
2017 $11,315 $914,390 $0 $0
2016 $11,315 $914,390 $0 $0
2015 -- $0 $0 $0
2014 -- $0 $0 $0
2013 -- $0 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/01/2025 08/01/25 Price Changed $1,800,000 -5.3% --
07/09/2025 07/09/25 Price Changed $1,900,000 -5.0% --
04/07/2025 04/07/25 For Sale $2,000,000 +106.2% --
10/20/2023 10/20/23 Sold $970,000 -3.0% $62 / Sq Ft
07/12/2023 07/12/23 For Sale $1,000,000 -- $64 / Sq Ft
Source: Mount Rushmore Area Association of REALTORS®

Source: Mount Rushmore Area Association of REALTORS®

MLS Number: 83794

Mount Rushmore Area Association of REALTORS®

APN: 31930-01663-000-20