Call or Text Listing Agent - Jason Richards - The Real Estate Center of Spearfish - 605-381-1087 for more information. Cash Cow! This is an excellent income property and is hard to find in the Northern Black Hills. 5 Acres of land located close to Highway 85, by industrial park on the north side of Belle Fourche with a multi-building apartment complex consisting of 6 newer apartment buildings (2012 construction or newer) with 17 total rental apartments PLUS a 30x40 shop. Currently this property is 100% occupied but even using a 5% vacancy rate when figuring your Net Income, the CAP rate is favorably close to 9%. Of the 17 apartment units, there is 1-four BR unit, 2-three BR units, 1-two BR unit, 10-one BR units, and 3-studio apartments. There is a reduced rate for heating through Butte Electric on all buildings. Sprinkler fire suppression systems in all but one apartment building. Buyer is responsible for verifying all information on this MLS document.
Type Of Tenancy: Six Month Lease, One Year Lease
Tenant Pays: Rent Only
Subdivision Y/N: Yes
Sub Type: Multi Family Home
School District: Belle Fourche
Safety Features: Smoke Detectors, Sprinkler System
Property Type: Multi Family Home
Personal Property: Refrigerator, Electric Range Oven, Washer, Dryer
Parking: Paved, Common
Owner Pays: Gas/Electric, Water/Sewer, Real Estate Taxes, Insurance
Miscellaneous: Pet Restrictions
Listing Status: Active
Entrance: Private Entrance
County/Area: Butte County
Zip Code: 57717
The Real Estate Center of Spearfish
140 W. Jackson Blvd
Spearfish, SD 57783
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