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Downtown Rapid City Multifamily Homes & Duplexes for Sale

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  • /16

    $299,900

    • Studio

    1802 Cherry Ave, Rapid City, SD 57701

    Check out this rare opportunity to own a versatile 3-unit property spread across two separate structures on one lot in the desirable Dorr Township! This well-maintained complex offers a perfect blend of income potential and flexibility for investors or owner-occupants. 2 of the units offer multiple updates, spacious 2 bedrooms, 1 bathroom and plenty of room comfort and potential. The separate

    Beth Staeckeler REAL BROKER - SPEARFISH

    1802 Cherry Ave, Rapid City, SD 57701
  • /19

    $225,000

    • 2 Beds

    333 Saint Paul St, Rapid City, SD 57701

    Awesome income potential in this well-located up/down duplex just five minutes from both the hospital and downtown! This property features two established rental units with great tenants already in place. The main floor unit offers two bedrooms, one full bathroom with a tub/shower combo, and convenient off-street parking. The upstairs unit includes one bedroom, one bathroom with a shower, and its

    Stacey Nelson RE/MAX RESULTS

    333 Saint Paul St, Rapid City, SD 57701
  • /18

    $6,800,000

    • 6 Beds

    426 & 434 E Fairmont Blvd, Rapid City, SD 57701

    81 unit apartment complex with a mixture of studio (24), 1 bed (27), 2 bed (24), a3 bed apartments (6), and 12 garages. Conveniently located in SE Rapid City just down the street from Monument Hospital and between two major thoroughfares HWY 16 and HWY 79. Robbinsdale Park complex is directly to the East of this property offering tenants numerous recreation opportunities as well. The property is

    Ed Dreyer RE/MAX ADVANTAGE

    426 & 434 E Fairmont Blvd, Rapid City, SD 57701
  • /17

    $450,000

    • Studio

    620 West Blvd, Rapid City, SD 57701

    Charming Historic Multifamily Home with Garage! Located in the West Boulevard Historic District, a beautifully maintained multifamily home offering great investment potential or an ideal owner-occupied setup. The main floor unit features hardwood floors, and abundant natural light, while the lower-level unit has a private entrance, ample storage, and a smart layout for rental income or extended

    Shannon Brinker TRUE NORTH ASSET GROUP

    620 West Blvd, Rapid City, SD 57701
  • /11

    $275,000

    • 4 Beds

    1918 Ivy Ave, Rapid City, SD 57701

    Come and See!...This duplex is a side by side duplex, sharing a front enclosed entryway. This would be a wonderful way to start home ownership with a rental providing income. Also a great opportunity for a single family home (with some modifications) or with the mother-in-law suite already set up. Maybe you are looking for an investment property. The living room and kitchen area are on the main

    LORI PAULSEN SAUSER BEST IN THE WEST REALTY

    1918 Ivy Ave, Rapid City, SD 57701
  • /17

    $275,000

    • 4 Beds

    1914 Ivy Ave, Rapid City, SD 57701

    Come and See!...This duplex is a side by side duplex, sharing a front enclosed entryway. This would be a wonderful way to start home ownership with a rental providing income. Also a great opportunity for a single family home (with some modifications) or with the mother-in-law suite already set up. Maybe you are looking for an investment property. The living room and kitchen area are on the main

    LORI PAULSEN SAUSER BEST IN THE WEST REALTY

    1914 Ivy Ave, Rapid City, SD 57701
  • /17

    $275,000

    • 4 Beds

    1922 Ivy Ave, Rapid City, SD 57701

    Come and See!...This duplex is a side by side duplex, sharing a front enclosed entryway. This would be a wonderful way to start home ownership with a rental providing income. Also a great opportunity for a single family home (with some modifications) or with the mother-in-law suite already set up. Maybe you are looking for an investment property. The living room and kitchen area are on the main

    LORI PAULSEN SAUSER BEST IN THE WEST REALTY

    1922 Ivy Ave, Rapid City, SD 57701

Why Live in Downtown Rapid City

Downtown Rapid City features a mix of historic and suburban home styles, including Colonial, Tudor, American Foursquare, Cape Cod, mid-century, and Craftsman homes. The West Boulevard Historic District showcases homes dating back to the late 1800s, with strict preservation standards. Main Street Square is a central green space with seasonal attractions like a splash pad in summer and an ice skating rink in winter. Founders Park offers over 20 miles of trails and scenic views of M Hill. Dining options include Tally’s Silver Spoon, known for its unique "Indecision Menu," and Firehouse Brewing Company, South Dakota’s oldest brewery. The downtown shopping district features locally owned shops and familiar franchises. Annual events like Summer Nights and the Black Hills Farmers Market draw residents and visitors alike. The Monument hosts various events, including hockey games and concerts. Rapid City Rapid Ride provides weekday public transportation, and major highways connect the area to Sioux Falls and Boulder. Monument Health Rapid City Hospital is 2 miles away, and the Rapid City Regional Airport is 11 miles southeast. Schools in the area have mixed ratings, with Central High School offering a range of extracurricular activities.

Home Trends in Downtown Rapid City, SD

Housing Trends

Median Sale Price
$270,500
Median Single Family Sale Price
$277,500
Median 2 Bedroom Sale Price
$307,400
Average Price Per Sq Ft
$220
Number of Homes for Sale
74
Last 12 months Home Sales
60
Months of Supply
14.80
Median List Price
$291,950
Median Change From 1st List Price
2%
Median Home Sale Price YoY Change
2%
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