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728-748 E Main Street
SturgisSD 57785

$1,399,900
New Listing
Tools
Brochure
Size
1.16 Acres
Exterior
Financial
$1,399,900
Change Currency
Listing Details
Multi Family
Property type
1970
Year Built
11137253
Web Id
79777
MLS ID
30
Days Posted

Description

728-748 E Main Street, Sturgis, SD 57785

Here'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

This is an Active listing.

Broker Office Phone Number: 605-343-7500

Copyright © 2024Mt. Rushmore Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Amenities

  • Refrigerator
  • Dryer Included
  • Composition Shingle Roof

Price History

datePricevariancetype
4/15/2024$1,399,900-Listed
Listing By: Keller Williams Realty Black Hills SP via Data Source: Mt. Rushmore Area Association of Realtors 
listing agent: Madison Reeves


Located at 728-748 E Main Street, Sturgis, South Dakota 57785, this Multi Family is for Sale with a price of $1,399,900 USD. The property was built in 1970,. This listing encompasses a lot of 1.16 Acres. See all Homes for Sale in Sturgis.
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