Watertown, SD Multifamily Homes & Duplexes for Sale

/18
$519,900
- 12 Beds
- 4 Baths
- 4,712 Sq Ft
201 3rd St SE, Watertown, SD 57201

Investor alert! this nice 4-plex in the center of Watertown is on the market!! These updated units have 3 bedrooms and one bath with separate entrances per unit and comes with a one stall detached garage. Mostly newer/updated windows,shingles, rubber roof in 2008, electrical panel, plumbing, 4 refrigerators, 4 stoves, with 3 unites renting for 900 a month and 4th unit is under going remodeling

Jim Pieper JP REAL ESTATE

201 3rd St SE, Watertown, SD 57201
/24
$229,900
- 3 Beds
- 2.5 Baths
- 1,777 Sq Ft
721 E Kemp Ave, Watertown, SD 57201

Versatile Duplex or Single-Family Home - Great Investment Opportunity!This unique property is currently configured as a duplex, offering a 2-bedroom, 2-bathroom unit and a 1-bedroom, 1-bathroom unit—perfect for a variety of living or investment options. Whether you're an investor looking to generate rental income, or a homeowner seeking flexibility, this property fits the

Melody Kerkvliet REAL ESTATE PROFESSIONALS

721 E Kemp Ave, Watertown, SD 57201
/19
$194,900
- 5 Beds
- 3 Baths
- 2,152 Sq Ft
426 1st St NW, Watertown, SD 57201

NICE THREE PLEX IN NW WATERTOWN. MANY NICE UPDATES DONE . NEW SHINGLES AND GUTTERS TO BE DONE BEFORE CLOSING GIVE US A CALL FOR YOUR PRIVATE SHOWING

LORIE SMITH ROBY, REALTORS

426 1st St NW, Watertown, SD 57201
/17
$399,900
- 7 Beds
- 3 Baths
- 1,402 Sq Ft
802 W Kemp Ave, Watertown, SD 57201

This triplex is completely remodeled with, new roof, siding, wiring sheetrock, flooring, cabinets, appliances, to name a few. There are two units now rented the 3 bedroom upstairs rents for $1200 monthly plus they pay utilities, lower one bedroom rents for $800 monthly both in leases. The lower 3 bedroom unit can be rented out for $1200 a month or you can live there and rent out the other two to

Jim Pieper JP REAL ESTATE

802 W Kemp Ave, Watertown, SD 57201
/20
$335,000
- 2 Beds
- 2 Baths
- 1,260 Sq Ft
1327 Cherry Dr, Watertown, SD 57201

Great twinhome with open floor plan in wonderful location. Many kitchen cabinets, huge pantry, finished heated garage, master bath, covered patio off dining room with privacy fences! Here is how to live the easy way

Joy Nelson HAUGAN NELSON REALTY, INC

1327 Cherry Dr, Watertown, SD 57201
/9
$2,700,000
- 36 Beds
- 12 Baths
- 13,872 Sq Ft
1542 Bogue Ave, Watertown, SD 57201

Excellent investment opportunity available! A twelve-unit apartment complex situated conveniently within walking distance of LATC. Each unit offers 3 bedrooms, 1 bathroom, vinyl plank flooring, essential appliances including a washer, dryer, dishwasher, stove, fridge, and microwave. The building boasts off-street parking, secured access, and on-site mailboxes for added convenience. The owner is a

DANYEL KLOOS MAINSTREAM REALTY

1542 Bogue Ave, Watertown, SD 57201
/3
$2,539,000
- 36 Beds
- 12 Baths
- 15,280 Sq Ft
908 Arrow Ave NE, Watertown, SD 57201

12 unit apartment complex. All units have central air, washer/dryer, stove, fridge, & microwave furnished. All units are fully rented for June 2025-2026 at a rate of $1,350 monthly.*Owner is licensed real estate agent

Mike Lawrence ACCESS REAL ESTATE

908 Arrow Ave NE, Watertown, SD 57201
/2
$265,000
- 4 Beds
- 2 Baths
- 1,134 Sq Ft
300 8th St NE, Watertown, SD 57201

Income Property Alert!Don't miss this fully leased duplex featuring two spacious 2-bedroom units, ideally located near Lake Area Technical College, public schools, and a beautiful park. Recent updates include updated siding and newer windows for low-maintenance ownership. Tenants enjoy convenient paved parking in front along with an attached garage—no more parking hassles! Both units are

Mike Lawrence ACCESS REAL ESTATE

300 8th St NE, Watertown, SD 57201
/2
$299,900
- 5 Beds
- 2 Baths
- 1,344 Sq Ft
500 7th St NE, Watertown, SD 57201

Investment Opportunity!Check out this well-maintained duplex featuring a 3-bedroom unit upstairs and a 2-bedroom unit downstairs—each with its own 2-stall garage. Conveniently located near Lake Area Technical College and local public schools, this property offers strong rental potential. Recent updates include durable steel siding and newer windows. Current rental income is $1,350 for the

Mike Lawrence ACCESS REAL ESTATE

500 7th St NE, Watertown, SD 57201

South Dakota Watertown

Why Live in Watertown

Watertown, South Dakota, with a population of around 22,000, is known for its picturesque landscapes, including Lake Kampeska and Pelican Lake, which offer year-round recreational activities such as fishing, boating, and ice fishing. The city is home to the Redlin Art Center, showcasing the works of local artist Terry Redlin, and features over 20 public parks, including the expansive Stokes-Thomas Lake City Park & Campground. Watertown's attractions also include the Bramble Park Zoo, the Goss Opera House, and annual events like the Holiday Light Parade and Cookin’ on Kampeska. The city’s downtown area, particularly along Broadway Avenue, is lined with historic buildings, casual dining options, and breweries. Watertown School District is highly rated, and the Lake Area Technical College provides strong educational opportunities. Housing options range from late 1800s cottages to ranch-style and split-level homes from the late 20th century. The city’s crime rates are lower than both national and state averages, contributing to its appeal as a family-friendly community. Watertown is accessible via Interstate 29, which connects to Sioux Falls, and has a regional airport with flights to major hubs.

Learn more about living in Watertown

Home Trends in Watertown, SD

On average, homes in Watertown, SD sell after 50 days on the market compared to the national average of 70 days. The median sale price for homes in Watertown, SD over the last 12 months is $256,500, down 21% from the median home sale price over the previous 12 months.

Housing Trends

Median Sale Price

$256,500

Median Single Family Sale Price

$277,500

Median Townhouse Sale Price

$374,333

Median 2 Bedroom Sale Price

$449,950

Average Price Per Sq Ft

$137

Number of Homes for Sale

Last 12 months Home Sales

330

Months of Supply

1.30

Median List Price

$295,000

Median Change From 1st List Price

Median Home Sale Price YoY Change

-21%

How to Buy a Home How to Finance a Home How to Sell a Home

In Watertown, there are currently 9 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $194,900 to $2,700,000, there's a range to accomodate every budget. As of July, 2025 the median home price in Watertown is $295,000, while the average sale price is $275,362, offering insights into the local housing market. On average, multi-family homes spend 50 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Watertown, SD.

Watertown Types of Homes for Sale

More About Living in Watertown

Homes in Nearby Counties

Codington County Homes for Sale

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