Seller's Agent in 2024
Madison Shipman
Blair Allen Luxury Real Estate LLC
(605) 569-9019
18 in this area
145 Total Sales
728 Main St Sturgis, SD 57785
Studio
--
Bath
--
Sq Ft
1.16
Acres
Highlights
- 1.16 Acre Lot
- Storage
- Baseboard Heating
- Home Security System
- Shed
- Evaporated cooling system
About This Home
As of December 2024Here's your prime investment opportunity! Welcome to Key City Manor Apartments, located just blocks from downtown Sturgis. This property is a 32-unit HUD apartment building (with an HAP contract) featuring 16 one bedroom, one bathroom units and 16 efficiency, one bathroom units. Four sets of coin-op washer and dryers are located on the property, offering an additional income source, both an indoor and outdoor common area for tenants and ample off-street parking for each unit. This property has a record of a low vacancy rate of 93% and historic rent increases through HUD. Various capital improvements have been made in recent years including updated flooring and appliances in some units, new water heaters and boiler pumps, new exterior doors, one new coin-op washing machine, extensive concrete work in sidewalks and a new roof in 2022. Maintenance, management and vendors in place should a buyer choose to continue with the current operations team. Enjoy a 7% cap rate in this excellent investment! Call for more information today. Listed by Madison Reeves, Keller Williams Realty Black Hills - Spearfish (605) 569-9019
Last Agent to Sell the Property
Blair Allen Luxury Real Estate LLC License #18070 Listed on: 04/15/2024
Last Buyer's Agent
Blair Allen Luxury Real Estate LLC License #18070 Listed on: 04/15/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $19,029
Year Built
- Built in 1970
Lot Details
- 1.16
Home Design
- Brick Exterior Construction
- Composition Roof
Interior Spaces
- 2-Story Property
- Storage
- Electric Oven or Range
Laundry
- Dryer
- Washer
Home Security
- Home Security System
- Fire and Smoke Detector
Parking
- Common or Shared Parking
- Paved Parking
Utilities
- Evaporated cooling system
- Baseboard Heating
Additional Features
- Shed
- 1.16 Acre Lot
Community Details
- 32 Units
Listing and Financial Details
- Tenant pays for rent only
- The owner pays for gas/electric, water/sewer, real estate taxes, insurance, janitor
- Month-to-Month Lease Term
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/10/2024 12/10/24 | Sold | $1,150,000 | -17.9% | -- |
| 04/15/2024 04/15/24 | For Sale | $1,399,900 | -- | -- |
Source: Mount Rushmore Area Association of REALTORS®
Agents Affiliated with this Home
-
Madison Shipman
Map
Source: Mount Rushmore Area Association of REALTORS®
MLS Number: 79777
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