811 Mallow St Rapid City, SD 57701
North Rapid City NeighborhoodEstimated payment $6,548/month
Highlights
- 0.4 Acre Lot
- Private Entrance
- Heating Available
- Refrigerated and Evaporative Cooling System
- Wood Siding
About This Home
Listed by Pete Jensen, KWBH, 605-484-6713. Great opportunity to add your investment porfolio- 8 unit apartment complex in central Rapid City with impressive occupancy rate and consistent rental history! Built in 2005, the building has 4 units on the upper level and 4 units on ground level, with a private parking lot. Ground level units are zero-entry for great accessibilty. Upper levels are accessed via recently refreshed decks on either end of the building. Combination of 2 bedroom/1 bathroom and 3 bedroom/2 bathroom units with rent ranging from $875-$1,075/unit, each having private entries, an open concept living space, full kitchen, private in-unit laundry and separate electric meters. Consistently improved on, units have updated kitchens, wall AC, low maintenance flooring, egress windows as needed and all appliances stay. Lots of recent preventive maintenance - water heater replacements, newer roof, deck staining, sprinkler system recharge, etc. Added income potential- room to raise rents or enjoy a strong excellent CAP rate as is. Conveniently located near downtown Rapid City, the Monument Arena and easy access to I90 and the Black Hills.
Listing Agent
Keller Williams Realty Black Hills SP License #18069 Listed on: 03/27/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $13,664
Year Built
- Built in 2005
Lot Details
- 17,424 Sq Ft Lot
- Private Entrance
- Subdivision Possible
Parking
- Paved Parking
Home Design
- Frame Construction
- Composition Roof
- Wood Siding
Interior Spaces
- 2-Story Property
- Fire Sprinkler System
- Electric Oven or Range
Laundry
- Dryer
- Washer
Location
- In Flood Plain
Utilities
- Refrigerated and Evaporative Cooling System
- Heating Available
Community Details
- 8 Units
- 5,198 Sq Ft Building
Listing and Financial Details
- The owner pays for real estate taxes, water/sewer
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 | $13,742 | $1,027,900 | $61,000 | $966,900 |
| 2024 | $13,037 | $952,900 | $61,000 | $891,900 |
| 2023 | $12,446 | $878,800 | $61,000 | $817,800 |
| 2022 | $11,784 | $776,100 | $61,000 | $715,100 |
| 2021 | $13,025 | $783,100 | $61,000 | $722,100 |
| 2020 | $12,110 | $704,300 | $61,000 | $643,300 |
| 2019 | $11,344 | $654,100 | $61,000 | $593,100 |
| 2018 | $10,857 | $638,600 | $61,000 | $577,600 |
| 2017 | $8,520 | $637,000 | $52,300 | $584,700 |
| 2016 | $8,877 | $469,900 | $52,300 | $417,600 |
| 2015 | $8,877 | $466,200 | $52,300 | $413,900 |
| 2014 | $8,820 | $450,800 | $52,300 | $398,500 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/27/2026 03/27/26 | For Sale | $999,500 | +48.1% | -- | |
| 04/30/2015 04/30/15 | Sold | $675,000 | -6.9% | $185 / Sq Ft | View Prior Sale |
| 03/18/2015 03/18/15 | Pending | -- | -- | -- | |
| 12/10/2014 12/10/14 | For Sale | $725,000 | +55.9% | $199 / Sq Ft | |
| 12/12/2012 12/12/12 | Sold | $465,000 | -4.1% | -- | View Prior Sale |
| 08/30/2012 08/30/12 | Pending | -- | -- | -- | |
| 04/19/2012 04/19/12 | For Sale | $485,000 | -- | -- |
Source: Mount Rushmore Area Association of REALTORS®
MLS Number: 87915
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Ask me questions while you tour the home.