626 N 1st St Rapid City, SD 57701
North Rapid City NeighborhoodEstimated payment $5,262/month
Highlights
- Handicap Accessible
- Evaporated cooling system
- Heating Available
About This Home
Excellent investment opportunity in Rapid City! This 8-unit multifamily apartment building features all 2-bedroom, 1-bathroom units — a highly desirable and consistent rental layout. The property is fully sprinkled and includes an exterior sprinkler system for added safety and functionality. The roof and siding have been replaced recently. Extensive exterior renovations have been completed, enhancing both curb appeal and long-term durability. All units have been renovated, with two units updated within the last year. The building maintains a strong occupancy history, with vacancy rates historically ranging between 0–5%, demonstrating solid rental demand and stability. Two shared coin-operated laundry units are located in the common area, providing additional income potential. This turnkey asset offers consistent unit mix, modernized interiors, and proven performance — making it a strong addition to any investor’s portfolio. Listed by Josiah LaFrance- Blair Allen Luxury Real Estate 605-786-3098
Listing Agent
Blair Allen Luxury Real Estate LLC License #21929 Listed on: 03/02/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,882
Home Design
- Frame Construction
- Composition Roof
- Vinyl Siding
Home Security
- Fire and Smoke Detector
- Fire Sprinkler System
Parking
- Common or Shared Parking
- Paved Parking
Utilities
- Evaporated cooling system
- Heating Available
Additional Features
- Handicap Accessible
- Cove
Listing and Financial Details
- The owner pays for water/sewer, real estate taxes, insurance
Community Details
Pet Policy
- Pets Allowed
Additional Features
- 8 Units
- Building Fire Alarm
Map
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2025 | $3,969 | $292,100 | $67,100 | $225,000 |
| 2024 | $3,948 | $284,000 | $67,100 | $216,900 |
| 2023 | $3,983 | $276,900 | $67,100 | $209,800 |
| 2022 | $4,005 | $263,800 | $67,100 | $196,700 |
| 2021 | $4,239 | $251,200 | $67,100 | $184,100 |
| 2020 | $7,108 | $411,000 | $67,100 | $343,900 |
| 2019 | $6,893 | $395,200 | $67,100 | $328,100 |
| 2018 | $6,519 | $394,100 | $67,100 | $327,000 |
| 2017 | $6,722 | $380,200 | $67,100 | $313,100 |
| 2016 | $6,920 | $369,400 | $67,100 | $302,300 |
| 2015 | $6,920 | $362,100 | $67,100 | $295,000 |
| 2014 | $6,899 | $351,300 | $67,100 | $284,200 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/02/2026 03/02/26 | For Sale | $925,000 | -- | -- |
Source: Mount Rushmore Area Association of REALTORS®
MLS Number: 87608
APN: 20-36-427-011
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