NOT LISTED FOR SALE

265 Federal Ave Rapid City, SD 57702

West Rapid City Neighborhood
8 Beds
-- Bath
-- Sq Ft
2015 Built

Last Sold September 22, 2021

Last sale price $2,920,000

15 Days on Market

Highlights

  • Public Water Access
  • Forced Air Heating and Cooling System
  • High-Rise Condominium
  • View of Hills
  • Private Entrance

About This Home

As of September 2021

Attention Investors -- Opportunity is knocking with this 24-plex! All units are roughly 1100 square feet with 2 bedrooms, 2 baths, laundry hook-ups with 75-80% of the units having washer and dryers provided. Built in 2015, these units have been well maintained with some under market rents and loaded with cash-flow potential! There are 38 parking spaces, plus ample street parking, and sprinkler system. Tenants pay electricity, owner pays water/sewer/trash. Buyer to assume non-recourse Fannie Mae Small Business Loan. Balance of loan roughly $1,800,000, rate of 4.82% with under 10 years remaining on term. Call for more information or your private viewing.

Last Agent to Sell the Property

Lisa Mueller

COLDWELL BANKER BLACK HILLS LEGACY Listed on: 03/23/2021

COLDWELL BANKER BLACK HILLS LEGACY

Last Buyer's Agent

Jessica Smith

RE/MAX RESULTS

RE/MAX RESULTS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2015

Parking

  • Paved Parking

Home Design

  • Slab Foundation
  • Poured Concrete
  • Composition Roof
  • Hardboard

Utilities

  • Forced Air Heating and Cooling System
  • Heat Pump System
  • Public Septic

Additional Features

  • Views of Hills
  • Public Water Access
  • Private Entrance

Listing and Financial Details

Community Details

Overview

  • 24 Units
  • High-Rise Condominium
  • Owen Mann Tract Subdivision

Building Details

  • Insurance Expense $10,860
  • Maintenance Expense $6,460
  • Other Expense $855
  • Professional Management Expense $15,412
  • Trash Expense $3,697
  • Water Sewer Expense $22,287
  • Gross Income $295,170

Property Details

Home Type

Multi-Family

Year Built

Built in 2015

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Type: Multiplex
  • Style: High Rise
  • Lvt Date: 03/23/2021
  • View: Hills
  • Year Built: 2015
  • Safety Features: Smoke Detectors, Sprinkler System, Fire Alarm
  • Includes: All Units, Refrigerator, Range/Oven, Dishwasher, Disposal, Microwave
  • Miscellaneous: Separate Meters, Pet Restrictions, Individual Water Heaters, Individual Heat & Air, Dead Bolt Locks
  • Agent Only_ L A1 User Code: 1022
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Construction: Hardboard
  • Foundation: Slab, Poured Concrete
  • Roof: Composition

Garage/Parking

  • Parking: Paved

Utilities

  • Air Conditioner: Electric, Central
  • Heating: Electric, Forced Air, Heat Pump
  • Sewer: City
  • Water: City

Fee Information

  • Insurance Expense: 10,860
  • Maintenance Expense: 6,460
  • Total Expenses: 59,526
  • Management Expense: 15,412
  • Other Expense: 855
  • Trash Expense: 3,697
  • Water Sewer Expenses: 22287

Lot Info

  • Lot Size: 1.06
  • Lot Type: Flat, Corner
  • Zoning: Conforming

Rental Info

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

Tax Info

  • Year: 2020
  • Taxes: $35,670.08

Multi Family

  • Number Of Units: 24
  • Vacancy Rate: 0 - 5%
  • Unit Features: All Units, Hookups, Window Coverings, Inside Utility Room

Range of Values:

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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 Change Sq Ft Price
09/22/2021 09/22/21 Sold $2,920,000 -2.7% --
03/23/2021 03/23/21 For Sale $3,000,000 -- --
Source: Black Hills Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Lisa Mueller

    Seller's Agent in 2021

    Lisa Mueller

    COLDWELL BANKER BLACK HILLS LEGACY

    (605) 390-7137

    8 in this area

    121 Total Sales

    Lisa Mueller
    Section Image
  • Jessica Smith

    Buyer's Agent in 2021

    Jessica Smith

    RE/MAX

    (605) 430-3800

    6 in this area

    128 Total Sales

    Jessica Smith
    Section Image
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Map

Source: Black Hills Association of REALTORS®

MLS Number: 153446

Black Hills Association of REALTORS®
South Dakota Pennington County Rapid City 57702 West Rapid City

265 Federal Ave, Rapid City, SD

This home is located at 265 Federal Ave, Rapid City, SD 57702 since 23 March 2021. This property was built in 2015. 265 Federal Ave is a home located in Pennington County with nearby schools including South Canyon Elementary School, West Middle School, and Stevens High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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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