4815 5th St - Apartments FOR SALE


Rapid City, SD 57701 | 
$31,250,000 USD
605-863-1920
4815 5th St, Rapid City, SD for Sale
$31,250,000 USD
Apartments - FOR SALE
1/43
null | 5.61% Cap Rate

4815 5th St
Rapid City, SD 57701


HIGHLIGHTS

  • Location!
  • Easy Access to Catron Blvd
  • Next to restaurant's and Wal-Mart

OVERVIEW

ATTENTION INVESTORS! Excellent opportunity to acquire a 165-unit apartment complex consisting of 11 buildings with 15 apartments per building, plus 72 garage stalls. The property includes 4 garage buildings with 18 stalls each, currently renting for $100/month per stall. Each apartment building features 3 studio units at approximately 558 sq ft renting for $900/month, 6 one-bedroom/one-bath units at approximately 774 sq ft renting for $1,100/month, and 6 two-bedroom/two-bath units at approximately 1,013 sq ft renting for $1,400/month. Apartments feature Whirlpool stainless steel refrigerator, range, microwave and dishwasher, along with a white stackable washer and dryer in each unit. Interior finishes include carpeted bedrooms, LVF vinyl flooring throughout kitchens, living rooms, bathrooms and laundry closets, laminate countertops, stainless steel sinks and blinds throughout. Exterior and common-area features include Trex maintenance-free decking, metal railings and balconies, maintenance-free fencing along the rear retaining wall, complete landscaping with plantings, sod and sprinkler system, and a fire suppression system approved by the Rapid City Fire Department. All 72 garages are drywalled and taped and include garage door openers with remotes. Tenants are responsible for electricity. Owner pays garbage, sewer, water, lawn care and snow removal. Current professional property management is in place and the property maintains high occupancy. Listing agent is a member of the selling LLC. Broker Owned.

FOR SALE DETAILS

PRICE

$31,250,000 USD

PRICE/SF

$208 USD /SF

# OF UNITS

165

PRICE/UNIT

$189,394

CAP RATE

5.61%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Enchanted Pines Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2023

PARKING SPACES

72

LAND DETAILS

LAND ACRES

6.7 AC

LAND SF

291,852 SF

ZONING

Office Commercial

APN/PARCEL ID

0060929

ASK ABOUT THIS PROPERTY

TJ WojtanowiczBlack Hills SD RealtyMore Info
605-863-1920

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TJ WojtanowiczBlack Hills SD RealtyMore Info
605-863-1920

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.