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Rapid City, SD Multifamily Homes & Duplexes for Sale

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  • /40

    $285,000

    • 4 Beds

    811 Willsie Ave Unit 811, 813, Rapid City, SD 57701

    Offered by Dante Colicheski Black Hills Realty. Excellent investment opportunity in a convenient Rapid City location! This well-maintained duplex offers two spacious units, each with its own private entrance, ample parking, and functional layouts. Both units feature generous living areas, full kitchens, and in-unit laundry hookups, making them highly attractive to tenants. Whether you’re looking

    Agent Photo

    Dante Colicheski

    BLACK HILLS REALTY

    (605) 827-1835

    811 Willsie Ave Unit 811, 813, Rapid City, SD 57701
  • /22

    $247,500

    • 6 Beds
    • 2 Baths
    • 1,952 Sq Ft

    1019 Herman St, Rapid City, SD 57701

    Get ready to invest in opportunity - this duplex is ideal for rental income! Two spacious units with separate entrances on a corner lot. Main unit highlights a sizable kitchen with dark wood cabinets, ample countertop space, and striking hardwood floors leading into a dining area and an expansive, open living room & 2 sliders to an open, wrap-around deck. 3 good-sized bedrooms, 1 full bathroom &

    Cheri St Pierre Berkshire Hathaway HomeServices Midwest Realty - Sioux Falls

    1019 Herman St, Rapid City, SD 57701
  • /27

    $275,000

    • 4 Beds

    725 Holcomb Ave, Rapid City, SD 57701

    Don’t miss this great opportunity to own a well-priced duplex just minutes from downtown and major shopping areas. This versatile property features an upper unit with two bedrooms and one bathroom, and a separate entrance to a beautifully remodeled lower-level unit, also offering two bedrooms and a modern bathroom with a tiled shower. The lower unit has been recently updated and looks fabulous,

    Stacey Nelson RE/MAX RESULTS

    725 Holcomb 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
  • /3

    $244,000

    • 4 Beds

    815 Haines Ave, Rapid City, SD 57701

    This home is currently being used as a single-family home but has been used as a duplex in the past. 2 bedrooms up and 2 down. Each level with 1 bath. Lower level is a walkout to the backyard. Attached single car garage. Storage shed in the backyard.

    JEANIA MIDDLETON EXIT REALTY BLACK HILLS

    815 Haines Ave, Rapid City, SD 57701
  • /24

    $255,000

    • 4 Beds

    3030 W Omaha St, Rapid City, SD 57702

    Westside duplex. Upper unit is 2 bedroom, 1 bath. Hardwood floors, fireplace, washer/dryer in unit. Tenant lease is through 6/30/2026. Lower unit is a walk-out 2 bedroom, 1 bath, fireplace and washer/dryer in unit. Tenant has been there 7 years and is on month-to-month lease. Tenants pay their own electric and gas directly with the utility companies. Water, sewer, garbage is split with each unit

    JEANIA MIDDLETON EXIT REALTY BLACK HILLS

    3030 W Omaha St, Rapid City, SD 57702
  • /40

    $355,000

    • 4 Beds

    3715 W Omaha St, Rapid City, SD 57702

    Listed by Ashley Handcock, RE/MAX Advantage 605.393.5867. This move-in ready ranch offers 4 bedrooms, 2 bathrooms, and a finished 2-car garage on a spacious corner lot in a desirable west-side neighborhood! The main level features a bright living room, kitchen, 2 bedrooms, and a beautifully tiled bathroom with a walk-in shower. Downstairs you'll find a second kitchen, 2 more bedrooms (1NTC), and

    Ashley Handcock RE/MAX ADVANTAGE

    3715 W Omaha St, Rapid City, SD 57702
  • /19

    $250,000

    • 2 Beds

    239 Wright St Unit 239 WRIGHT ST and 23, Rapid City, SD 57701

    Rare opportunity with income potential or multi-unit flexibility! This .31-acre lot includes two separate homes—each with private laundry hookups, a refrigerator, and a stove/range. Both units feature newer water heaters and furnaces. Updated sewer line! 239 Wright St is a 754 sq ft, 2 bed, 1 bath home on a crawlspace with easy outside access. Features include an updated bathroom and several

    Amy Hook RE/MAX ADVANTAGE

    239 Wright St Unit 239 WRIGHT ST and 23, Rapid City, SD 57701
  • /30

    $275,000

    • 3 Beds

    911 Haines Ave, Rapid City, SD 57701

    Don’t miss out on this solid up/down duplex with a lot to offer. Both units have been updated with fresh paint and new flooring, giving each space a clean, modern feel. The lower unit is a 1 bedroom, 1 bath setup—simple and efficient, great for a single renter or couple. Upstairs is a roomy 2 bedroom, 1 bath unit that feels bright and inviting, making it an easy choice for long-term tenants.

    THOMAS PATTON KELLER WILLIAMS REALTY BLACK HILLS

    911 Haines Ave, Rapid City, SD 57701
  • /20

    $275,000

    • 3 Beds

    831 Dilger Ave, Rapid City, SD 57701

    Listed By Tom Blain - Keller Williams Realty Black Hills - 605-716-1111 Investors,,,,,,take a LOOK. Price Reduced $30,000. Great opportunity for a Cash Buyer. Fantastic investment opportunity! This fully occupied 4-plex features four 1-bedroom, 1-bath units with strong rental history and excellent cash flow. Located near schools, shopping, and with easy access to downtown and I-90, this

    Tom Blain KELLER WILLIAMS REALTY BLACK HILLS

    831 Dilger Ave, Rapid City, SD 57701
  • /27

    $189,900

    • 3 Beds

    213 E Watertown St, Rapid City, SD 57701

    Multi-family Duplex opportunity! Upstairs unit is 2 bed 1 bath with a covered front porch! Downstairs is 1 bed 1 bath. Laundry hookups on site. Steel roof, New windows, 2 sheds & fenced!

    Drew Yeoman BLACK HILLS REALTY

    213 E Watertown 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
  • /14

    $204,900

    • 4 Beds

    217 E Monroe St, Rapid City, SD 57701

    Great investment opportunity, up down duplex with separate entrances in the rear. Each unit has separate electric and gas. Owner pays the water, sewer and trash Main Floor Unit: 2 bedrooms, 1 bathroom, living room, and kitchen. Currently rented for $700/month. Lower-Level Unit: 2 bedroom, 1 bathroom, living room and kitchen Currently rented for $650.00/month Both units have common entrance at

    JOE MUTH COLDWELL BANKER BLACK HILLS LEGACY

    217 E Monroe St, Rapid City, SD 57701
  • /31

    $219,000

    • 5 Beds

    636 Halley Ave, Rapid City, SD 57701

    Seller offer $10,000 credit to buyer and will consider carrying a 2nd! Great investment opportunity! Side by side duplex with a large lot. Updated roof, water heaters, furnance, sewer line, electric and plumbing. Great rental history with room to grow. Just needs a little cosmetic TLC!

    STEPHANIE HOLDINGHAUSEN SELLING 605 REALTY LLC

    636 Halley Ave, Rapid City, SD 57701
  • /40

    $36,750,000

    • 5 Beds

    4815 5th St Unit 4801- 4829 5th (165, Rapid City, SD 57701

    ATTENTION INVESTORS: 165 units with 72 garage stalls. 11 Buildings with 15 apartments per unit. 4 sets of garages each with 18 spaces. Garage spaces rent for $100 per month. Each building has 3 studio apartments of 558 sq ft that rent for $900 per month. 6- 1 bedroom 1 bath apartments at 774 sq ft that rent for $1100 per month. 6 -2 bedrooms, 2 bath at 1013 sq ft renting for $1400. Appliances

    TJ Wojtanowicz BLACK HILLS REALTY

    4815 5th St Unit 4801- 4829 5th (165, Rapid City, SD 57701
  • /22

    $825,000

    • Studio

    201 E Nowlin St Unit 203, 205, 207, 209,, Rapid City, SD 57701

    Now is the perfect time to invest in Rapid City as it continues to grow and expand! This well-maintained 6-unit complex (three duplexes) offers an excellent opportunity. Each unit features 2 bedrooms, 1 bathroom, a stove, refrigerator, window air conditioner, gas water heater, and forced air heating. Washer and dryer hookups are also included in every unit. Some units have been upgraded with LVT

    Nicole Petrik Engel & Völkers

    201 E Nowlin St Unit 203, 205, 207, 209,, Rapid City, SD 57701
  • /36

    $1,625,000

    • Studio

    123 E Nowlin St Unit 125,127,129,131,133,, Rapid City, SD 57701

    Now is the perfect time to invest in Rapid City as it continues to grow and expand! This well-maintained 12-unit complex (six duplexes) offers a fantastic opportunity for investors. Each 2-bedroom, 1-bathroom unit includes a stove, refrigerator, window air conditioner, gas water heater, and forced air heating, along with washer/dryer hookups for added convenience. Some units have been upgraded

    Nicole Petrik Engel & Völkers

    123 E Nowlin St Unit 125,127,129,131,133,, Rapid City, SD 57701
  • /12

    $1,513,000

    • 3 Beds

    225 E Watertown St, Rapid City, SD 57701

    Solid 17 unit apartment complex in the heart of Rapid City with easy access to city center, shopping and public transportation. All brick construction making for ease of maintenance with recent updates including: New centralized boiler, 2021, Centralized water heater 2022 and some new windows. Property has low vacancy, on site laundry, decorative security fence, on site parking and is ready for

    Ed Dreyer RE/MAX ADVANTAGE

    225 E Watertown St, 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
  • /13

    $225,000

    • 5 Beds

    920 Haines Ave, Rapid City, SD 57701

    Listed by Ryan M. Hall | Premier Properties LLC | 605-209-5215. This triplex presents a fantastic investment opportunity with strong income potential. Each unit has a separate electric meter, while water and natural gas are shared, with tenants reimbursing the owner for water, sewer, and trash costs as follows: Main Floor 50%, Lower Level 25%, Upper Level 25%. Main Floor Unit: 2 bedrooms, 1

    RYAN MICHAEL HALL PREMIER PROPERTIES, LLC

    920 Haines Ave, Rapid City, SD 57701
  • /40

    $1,200,000

    • 8 Beds

    3616 & 3626 Serendipity Ln, Rapid City, SD 57702

    Great investment opportunity! Well maintained 8 plex (2 - 4 plex units) located in the beautiful Chapel Valley area. Each unit is 2 bedrooms, 1 bathroom, approx. 854 sq and some units have a small deck or patio space. All units are baseboard heating and some have wall mounted a/c units. Many updates include new windows in 2017 and 2018, UL4 asphalt shingle roof in 2021 and some new dishwashers

    Ariel Rudland WEST RIVER REALTY, LLC

    3616 & 3626 Serendipity Ln, Rapid City, SD 57702
  • /20

    $239,900

    • Studio

    710 Haines Ave, Rapid City, SD 57701

    Well-maintained tri-plex close to downtown Rapid City, new roof and siding in 2020, new electrical meters to all three units and individual gas meters to all units, lots of off-street parking for the tenants, rents are under market and should be adjusted and a water fee should be applied landlord replaced some windows and decking in 2023 so maintenance expenses were higher than usual, Lots of

    John Roberts The Real Estate Group Rapid City

    710 Haines Ave, Rapid City, SD 57701
  • /35

    $550,000

    • Studio

    5789 Corbin Dr Unit & 5823 Corbin Drive, Rapid City, SD 57703

    Looking for a unique opportunity to have an income-generating property? Welcome to Corbin Drive! This property features 3 homes with 4 rentable units all on 1.72 acres and 2 separate lots. There are multiple opportunities with this sale: live in one unit and rent the others, rent all 4 units or buy and sell off 3 units. Current leases need 60 days notice to vacate. The house features 2 units with

    CIERRA VANDERPOL Black Hills SD Realty

    5789 Corbin Dr Unit & 5823 Corbin Drive, Rapid City, SD 57703
  • /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
  • /48

    $36,750,000 New Construction

    • Studio

    4815 5th St Unit 4801-4829 5th (165 u, Rapid City, SD 57701

    ATTENTION INVESTORS: 165 units with 72 garage stalls. 11 Buildings with 15 apartments per unit. 4 sets of garages each with 18 spaces. Garage spaces rent for $100 per month. Each building has 3 studio apartments of 558 sq ft that rent for $900 per month. 6- 1 bedroom 1 bath apartments at 774 sq ft that rent for $1100 per month. 6 -2 bedrooms, 2 bath at 1013 sq ft renting for $1400. Appliances

    TJ Wojtanowicz Black Hills SD Realty

    4815 5th St Unit 4801-4829 5th (165 u, Rapid City, SD 57701

Why Live in Rapid City

Rapid City combines outdoor adventure with cultural attractions at the gateway to Mount Rushmore and the Black Hills. Downtown's unique City of Presidents Walking Tour features life-size bronze presidential statues, while Main Street Square hosts year-round events from summer concerts to winter ice skating. Art Alley showcases local creativity through ever-changing street murals. Families enjoy Storybook Island's seasonal themed park and Bear Country USA's drive-through wildlife experiences. The dining scene includes Dakotah Steakhouse serving regional specialties like elk and buffalo, while Firehouse Brewing Co operates from a historic 1915 firehouse. Kathmandu Bistro brings international flavors to an 1886 downtown building.

The housing market presents diverse options across distinct neighborhoods. Colonial Pine Hills commands the highest median single family home prices at $503,000, while North Rapid City offers more affordable options with a median of $250,000. The citywide median sale price stands at $360,500, with median townhome prices at $385,000. One-bedroom condos start at a median of $211,300, increasing to $290,300 for two bedrooms.

Living costs run 5.2% below the national average. A family with school-age children needs approximately $100,000 annually to live comfortably, while renters should aim for $55,000. Property taxes in Pennington County sit at 1.13%, higher than nearby Spearfish at 0.86%. South Dakota charges no state income tax and maintains a 4.2% state sales tax.

The public school system includes Stevens High School and Southwest Middle School, both rated B Plus by Niche. The private Rapid City Catholic School System, rated A Minus, serves multiple neighborhoods. South Dakota School of Mines and Technology provides higher education opportunities. The Rapid Transit System operates fixed bus routes Monday through Saturday, though most residents rely on personal vehicles.

Home Trends in Rapid City, SD

Housing Trends

Median Sale Price
$325,500
Median Single Family Sale Price
$346,200
Median Townhouse Sale Price
$289,900
Median 2 Bedroom Sale Price
$275,000
Median 1 Bedroom Sale Price
$165,000
Average Price Per Sq Ft
$210
Number of Homes for Sale
274
Last 12 months Home Sales
1,007
Months of Supply
3.30
Median List Price
$345,000
Median Change From 1st List Price
2%
Median Home Sale Price YoY Change
0%
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