Multi-Family Investment
Sale Price
$699,000
Price / Unit
$139,800
Total Size
4,778 SF +/-
Occupancy
100%
Location Highlights
A multi-family investment opportunity awaits in Spearfish, South Dakota. A single parcel contains 5 total housing units: one single-family rental and a two-story four-plex, offering stability and flexibility in rental income. Located just blocks from Black Hills State University, home to over 3,300 students, the property benefits from steady housing demand. It’s also within walking distance of historic downtown Spearfish, known for its preserved charm, classic storefronts, and vibrant mix of dining, entertainment, and coffee shops, making it especially appealing to students and young professionals.
Description
- Single parcel containing 5 total housing units: one single-family rental and a two-story four-plex
- Four-plex: 3,848 SF +/-
- Single-family: 930 SF +/-
- See marketing brochure for unit mix breakdown
- Off-street parking
- Updates include roof replacements for both properties in 2020 and general maintenance and cosmetic improvements
- Great proximity to Black Hills State University
- Spearfish’s housing landscape offers potential with 53.9% owner-occupied, 35.4% renter-occupied, and 10.7% vacant housing units, based on a total of 8,600 units
- Strong potential to enhance NOI
- Agent is related to a member of ownership
- Contact Broker for annual operating data
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