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$334,900
89677 MLS
(Tri-Plex: Home + Finished Basement Suite + Detached ADU) Unlock the rare opportunity to live in your own home while your tenants help pay the mortgage. This versatile property functions as a non-conforming triplex, offering three unique living spaces: a main-floor residence, a fully finished lower-level suite, and a detached one-bedroom efficiency cottage. Whether you’re an investor, a house-hacker, or someone looking to offset monthly expenses, this property delivers immediate income and long-term potential. Upgrades throughout including electrical updates. FINANCIALS AND UTILITY REPORTS AVAILABLE UPON REQUEST WITH SIGNED NDA; long term tenant main floor (showings best between 3 and 5 and no showings Fridays at 5:00 through Saturday at 5:00 (sabbatical for owners)

510 E Chicago Street, Rapid City
$219,000
180209 MLS
Most duplexes need work before they give cash flow. This one does not. Located in the heart of Rapid City's north side, this duplex offers a 2 bedroom, 1 bath upstairs unit with a covered front porch, and a 1 bedroom, 1 bath downstairs unit, with new carpet, paint, and windows already in place across both. That is less capital out of pocket and more room in your return from day one. The fenced front and back yard, onsite laundry hookups, and two sheds are the kind of tenant friendly touches that keep occupancy steady. If you have been waiting for a duplex that works without a renovation punch list, this is it. Book your showing today! Note: One of the Sellers, Heath Shields, is a licensed real estate agent in the state of South Dakota.

213 E Watertown Watertown Street, Rapid City
$219,000
89665 MLS
Most duplexes need work before they give cash flow. This one does not. Located in the heart of Rapid City's north side, this duplex offers a 2 bedroom, 1 bath upstairs unit with a covered front porch, and a 1 bedroom, 1 bath downstairs unit, with new carpet, paint, and windows already in place across both. That is less capital out of pocket and more room in your return from day one. The fenced front and back yard, onsite laundry hookups, and two sheds are the kind of tenant friendly touches that keep occupancy steady. If you have been waiting for a duplex that works without a renovation punch list, this is it. Book your showing today! Note: One of the Sellers, Heath Shields, is a licensed real estate agent in the state of South Dakota. Listed by Heath Shields, Real Broker LLC, 972-363-5002

213 E Watertown Street, Rapid City
$334,900
180112 MLS
(Tri-Plex: Home + Finished Basement Suite + Detached ADU) Unlock the rare opportunity to live in your own home while your tenants help pay the mortgage. This versatile property functions as a non-conforming triplex, offering three unique living spaces: a main-floor residence, a fully finished lower-level suite, and a detached one-bedroom efficiency cottage. Whether you’re an investor, a house-hacker, or someone looking to offset monthly expenses, this property delivers immediate income and long-term potential. Upgrades throughout including electrical updates

510 E Chicago, Rapid City
$350,000
180007 MLS
Listing by Drew Yeoman @ Black Hills Realty 605-484-5392 8 mobile homes for sale. Investment opportunity in Brookdale Estates. Lots: 9, 66, 77, 78, 142, 161, 167, & 187 Flexible purchase options available! Buy one property, all 8, or any combination in between. An excellent opportunity for both individual investors and portfolio buyers!

1702 E Hwy 44, Rapid City
$350,000
89480 MLS
Listing by Drew Yeoman @ Black Hills Realty 605-484-5392 8 mobile homes for sale. Investment opportunity in Brookdale Estates. Lots: 9, 66, 77, 78, 142, 161, 167, & 187 Flexible purchase options available! Buy one property, all 8, or any combination in between. An excellent opportunity for both individual investors and portfolio buyers!

1702 E Hwy 44, Rapid City
$549,900
179920 MLS
Exceptional investment opportunity in a prime Rapid City location! Situated near Canyon Lake Park, schools, shopping, and restaurants, this well-maintained 5-unit multi-family property offers immediate income with strong long-term potential. Situated on 0.9 acres, the property also includes a 28' x 15' garage, providing valuable storage space for tenants and/or owners. The complex has been updated within the past five years, including improvements to windows, doors, and electrical systems. With a proven track record of stable occupancy and long-term tenants, this property has demonstrated consistent performance over the past 16 years. Current rental rates are below market value, creating an outstanding opportunity for increased cash flow, future appreciation, and enhanced return on investment. Whether you're expanding your portfolio or seeking a quality income-producing property, this is one you won't want to miss.

1948 Hillsview Dr, Rapid City
$1,750,000
89161 MLS
Listed by TJ Wojtanowicz at Black Hills Realty | 605-863-1920. Outstanding investment opportunity in West Rapid City! This 27-unit apartment complex offers an excellent mix of units including 24 studio apartments, one 2-bedroom/1-bath unit, one 1-bedroom/1-bath unit, and one efficiency unit. The property also features an on-site laundry facility with washers and dryers, six rentable garages providing additional income, plus one dedicated management garage. Tenants pay their own electricity while ownership pays water, sewer, boiler heat, and other common area expenses, creating a straightforward management structure with strong upside potential. Located in a desirable west side neighborhood near Canyon Lake, shopping, restaurants, medical facilities, schools, and major employers, the property benefits from a highly sought-after rental location with convenient access throughout Rapid City. Current ownership has maintained strong occupancy, and there is significant opportunity to increase rental income through future rent adjustments, operational efficiencies, and continued property improvements. This is an excellent value-add opportunity for investors seeking stable cash flow with long-term appreciation potential in one of Rapid City's strongest rental markets. Whether you are expanding your portfolio or completing a 1031 Exchange, this well-located multifamily investment offers immediate income, additional garage revenue, and substantial upside. Financial information available

3313 Leland Lane, Rapid City
$1,750,000
179607 MLS
Listed by TJ Wojtanowicz at Black Hills Realty | 605-863-1920. Outstanding investment opportunity in West Rapid City! This 27-unit apartment complex offers an excellent mix of units including 24 studio apartments, one 2-bedroom/1-bath unit, one 1-bedroom/1-bath unit, and one efficiency unit. The property also features an on-site laundry facility with washers and dryers, six rentable garages providing additional income, plus one dedicated management garage. Tenants pay their own electricity while ownership pays water, sewer, boiler heat, and other common area expenses, creating a straightforward management structure with strong upside potential. Located in a desirable west side neighborhood near Canyon Lake, shopping, restaurants, medical facilities, schools, and major employers, the property benefits from a highly sought-after rental location with convenient access throughout Rapid City. Current ownership has maintained strong occupancy, and there is significant opportunity to increase rental income through future rent adjustments, operational efficiencies, and continued property improvements. This is an excellent value-add opportunity for investors seeking stable cash flow with long-term appreciation potential in one of Rapid City's strongest rental markets. Whether you are expanding your portfolio or completing a 1031 Exchange, this well-located multifamily investment offers immediate income, additional garage revenue, and substantial upside. Financial information available to qualified buyers upon execution of a confidentiality agreement. Call today for additional information or to schedule your private tour.

3313 Leland Ln, Rapid City
$250,000
89150 MLS
Listed by Chris Twiggs, Blair Allen Luxury Real Estate, 605-545-1218. CONTRACT FOR DEED AVAILABLE - SELLER FINANCING WITH FAVORABLE TERMS. Whether you're a seasoned investor expanding your portfolio, a first-time investor looking for a seller-financed entry point, or someone interested in house hacking with a tenant helping cover the payment, this turnkey two-unit property delivers! Situated on a single lot are two separate homes: a 4-bed/1-bath (remodeled in 2022) and a 2-bed/1-bath. Both units are fully leased with a strong occupancy history and have been maintained under professional management. Each tenant enjoys a private yard with a fence separating the units, dedicated on- or off-street parking, and separate utility meters. With no shared walls between the units and separate yards and parking, you avoid the noise complaints and neighbor disputes common to typical multifamily layouts. Don't miss this rare seller-financed opportunity, schedule your private showing today!

205 E Watertown Street, Rapid City
$275,000
179509 MLS
8+% cap rate investment calculated using a 5% vacancy & excellent rental history (no capex reserve nor maintenance exp. included). Listed by Tony Marshall, CINC Realty, 605-391-8669.

211 E Monroe Ave, Rapid City
$209,000
179472 MLS
For Sale – Up/Down Duplex Investment Opportunity in Rapid City, SD Don't miss this excellent opportunity to own a conforming up/down duplex in Rapid City, South Dakota. Whether you're looking to expand your investment portfolio or live in one unit while generating rental income from the other, this property offers flexibility and strong income potential. Each unit features: 2 bedrooms, 1 full bathroom, a spacious living room, a functional kitchen and dining area, Separate entrances, Ample natural light, and off-street parking. The property's up/down configuration provides privacy for tenants while maximizing rental appeal. Located in a convenient Rapid City neighborhood with easy access to shopping, schools, parks, medical facilities, and downtown amenities, this duplex is positioned to attract long-term tenants. Buyer and/or Buyer's agent to verify all information provided.

720 Haines Ave, Rapid City
$325,000
179440 MLS
Listed by Tony Marshall, CINC Realty, 605-391-8669. Well performing investment property with each unit nearly 900 sqft + 2 car garage. Rents are $1,450 for the upstairs and the basement was recently rented for $1,335. Landlord pays for water and the tenants pay the rest. There are multiple other income properties that could potentially be sold with this property.

109 E Monroe Ave, Rapid City
$6,800,000
179420 MLS
81 unit apartment complex with a mixture of studio (24), 1 bed (27), 2 bed (24), a3 bed apartments (6), and 12 garages. Conveniently located in SE Rapid City just down the street from Monument Hospital and between two major thoroughfares HWY 16 and HWY 79. Robbinsdale Park complex is directly to the East of this property offering tenants numerous recreation opportunities as well. The property is well kept and has a low vacancy rate making this a great opportunity add a great multifamily complex to your portfolio in the fast growing Rapid City market.

426 & 434 E Fairmont Blvd, Rapid City
$16,500,000
88899 MLS
Moonlight Apartment complex. 6 units with 15 apartments per unit. 3 sets of 18 private garages. Garage rents for $100 per month. Efficiency apartments are $995 per month. One bedroom apartments $1200 per month. Two bedroom apartment is $1400 per month. Each building has 3 studio apartments, 6 one bedroom apartments and 6 two bedroom apartments. Studio apartments are 558 square feet. One bedrooms are 774 square feet and two bedroom apartment is 1013 square feet. All appliances are stainless steel. Each unit has a refrigerator, range/oven, microwave and dishwasher. Each unit has stacked washer and dryer. Vinyl plank flooring in building corridors and stairs with steel railings for low maintenance. Balconies or patio on all units. Bedrooms are carpeted. LVF vinyl flooring in kitchen, living rooms and baths. All balcony decks are Trex. 440 foot metal fence parallel to Valley Drive and two large apartment complex name signs. Blinds in all apartments. Complete apartment surveillance system with recording ability for all units exterior and interior common areas. Completely landscaped with sprinkler system. Napco fire link fire suppression system approved by Rapid City fire department. Garages are taped and textured with garage door openers with remote. Two tone cabinets in kitchens. Matching laminated counter tops and stainless steel sinks. Tenants pay water and electric. Owner pays for garbage, lawn care and snow removal. Last two units were completed by Mac Construction in 2022.

1050 Valley View Drive, Rapid City
$16,500,000
179267 MLS
Moonlight Apartment complex. 6 units with 15 apartments per unit. 3 sets of 18 private garages. Garage rents for $100 per month. Efficiency apartments are $995 per month. One bedroom apartments $1200 per month. Two bedroom apartment is $1400 per month. Each building has 3 studio apartments, 6 one bedroom apartments and 6 two bedroom apartments. Studio apartments are 558 square feet. One bedrooms are 774 square feet and two bedroom apartment is 1013 square feet. All appliances are stainless steel. Each unit has a refrigerator, range/oven, microwave and dishwasher. Each unit has stacked washer and dryer. Vinyl plank flooring in building corridors and stairs with steel railings for low maintenance. Balconies or patio on all units. Bedrooms are carpeted. LVF vinyl flooring in kitchen, living rooms and baths. All balcony decks are Trex. 440 foot metal fence parallel to Valley Drive and two large apartment complex name signs. Blinds in all apartments. Complete apartment surveillance system with recording ability for all units exterior and interior common areas. Completely landscaped with sprinkler system. Napco fire link fire suppression system approved by Rapid City fire department. Garages are taped and textured with garage door openers with remote. Two tone cabinets in kitchens. Matching laminated counter tops and stainless steel sinks. Tenants pay water and electric. Owner pays for garbage, lawn care and snow removal. Last two units were completed by Mac Construction in 2022. Newer access through to Anamosa Street making it extremely convenient for tenants to get to shopping and the base. One owner who is retiring. This complex is ready to go and in excellent like new condition. Efficiency apartments and 1 bedrooms have mini split heating and cooling. 2 bedroom apartments have for air furnace.

1050 Valley Dr, Rapid City
$229,000
179012 MLS
Turn key investment opportunity! This up & down duplex features two units, each with a private entrance. The upper unit offers 2 bedrooms, 1 bathroom, and a spacious living area. The lower unit includes 1 bedroom and 1 bathroom with an efficient layout. A shared common area with washer and dryer is available for both units. Conveniently located near downtown Rapid City, schools, shopping, and restaurants. Ideal for investors or owner-occupants looking for rental income potential.

322 St Patrick, Rapid City
$325,000
88632 MLS
Listed by TJ Wojtanowicz at Black Hills Realty 605-863-1920. Combining historical character with modern comforts, welcome to 1116 Mt Rushmore Rd! This charming 1925 bungalow-style home has been completely renovated while maintaining its timeless elegance and character. This 2-bedroom, 2-bathroom property features extensive updates including new Pella windows, updated lighting fixtures, flooring, kitchen cabinets, appliances, electrical, plumbing, and fresh paint inside and out. The home offers flexible use potential and could function as a non-conforming duplex or vacation rental. The basement includes a separate entrance and second kitchen, creating additional income or guest space possibilities. Currently operating as a successful short-term rental with strong performance numbers, this property presents a great opportunity for homeowners and investors alike. Convenient location with historic charm and modern updates throughout—schedule your showing today! Property comes FULLY FURNISHED!

1116 Mt. Rushmore Road, Rapid City
$325,000
178961 MLS
Listed by TJ Wojtanowicz at Black Hills Realty 605-863-1920. Combining historical character with modern comforts, welcome to 1116 Mt Rushmore Rd! This charming 1925 bungalow-style home has been completely renovated while maintaining its timeless elegance and character. This 2-bedroom, 2-bathroom property features extensive updates including new Pella windows, updated lighting fixtures, flooring, kitchen cabinets, appliances, electrical, plumbing, and fresh paint inside and out. The home offers flexible use potential and could function as a non-conforming duplex or vacation rental. The basement includes a separate entrance and second kitchen, creating additional income or guest space possibilities. Currently operating as a successful short-term rental with strong performance numbers, this property presents a great opportunity for homeowners and investors alike. Convenient location with historic charm and modern updates throughout—schedule your showing today! Property comes FULLY FURNISHED!

1116 Mt Rushmore Rd, Rapid City
$287,400
178958 MLS
Excellent investment opportunity or ideal owner-occupant setup at 1616 1st St in Rapid City! This up/down duplex offers great income potential with a 3 bedroom, 1 bathroom upper unit and a fully remodeled 2 bedroom, 1 bathroom lower unit — perfect for investors or buyers looking to live in one unit while offsetting their mortgage with rental income from the other. The upper unit features a formal dining room along with newer flooring and a completely remodeled bathroom. Ceiling fans add additional comfort and efficiency throughout the home. The property has seen numerous major updates over the years including a gas furnace, hot water heater, updated water lines, upgraded electrical panel, newer roof, air conditioner, gutters, and new windows installed in 2023. The remodeled lower level has its own private entrance, separate electrical meter, and laundry hookups available both upstairs and downstairs for added convenience and flexibility. Basement bedrooms feature egress windows, adding safety and functionality. Outside, the large backyard offers excellent alley access with plenty of room to add a future garage or shop. A heavy-duty storage shed is already in place for extra storage needs. Whether you're looking to expand your rental portfolio or purchase a property with built-in income potential, this duplex is packed with opportunity!

1616 1st, Rapid City
$287,400
88625 MLS
Excellent investment opportunity or ideal owner-occupant setup at 1616 1st St in Rapid City! This up/down duplex offers great income potential with a 3 bedroom, 1 bathroom upper unit and a fully remodeled 2 bedroom, 1 bathroom lower unit — perfect for investors or buyers looking to live in one unit while offsetting their mortgage with rental income from the other. The upper unit features a formal dining room along with newer flooring and a completely remodeled bathroom. Ceiling fans add additional comfort and efficiency throughout the home. The property has seen numerous major updates over the years including a gas furnace, hot water heater, updated water lines, upgraded electrical panel, newer roof, air conditioner, gutters, and new windows installed in 2023. The remodeled lower level has its own private entrance, separate electrical meter, and laundry hookups available both upstairs and downstairs for added convenience and flexibility. Basement bedrooms feature egress windows, adding safety and functionality. Outside, the large backyard offers excellent alley access with plenty of room to add a future garage or shop. A heavy-duty storage shed is already in place for extra storage needs. Whether you're looking to expand your rental portfolio or purchase a property with built-in income potential, this duplex is packed with opportunity!

1616 1st Street, Rapid City
$914,900
178594 MLS
Excellent investment! Opportunity zone for long-term investors in Rapid City! This 8-unit multifamily apartment building features all 2-bedroom, 1-bathroom units — a highly desirable and consistent rental layout. The property is fully sprinkled and includes an exterior sprinkler system for added safety and functionality. The roof and siding have been replaced recently. Extensive exterior renovations have been completed, enhancing both curb appeal and long-term durability. All units have been renovated, with two units updated within the last year. The building maintains a strong occupancy history, with vacancy rates historically ranging between 0–5%, demonstrating solid rental demand and stability. Two shared coin-operated laundry units are located in the common area, providing additional income potential. This turnkey asset offers consistent unit mix, modernized interiors, and proven performance — making it a strong addition to any investor’s portfolio. Listed by Josiah LaFrance- L'Avance Real Estate and Capital 605-786-3098

626 N 1st, Rapid City
$285,000
88236 MLS
Listed by Rich Hegre Engel & Volkers 605-381-RICH(7424) This is a great opportunity to own a west side investment property. This duplex is fully rented with great income. Zero vacancy for over 3 years, gives you peace of mind knowing you will have income.

3417 W Rapid Street, Rapid City
$550,000
88231 MLS
Listed by Holly Hultgren, KWBH, 605-545-1943. Opportunities like this don’t come up often—with the chance to live in one side and rent the other, this move in ready property in a central Rapid City location is what you've been looking for! 905 has been smartly renovated and has 3 bedrooms (1ntc), 1 bath, and 1,340sqft. You’ll love the natural light, beautiful wood floors, and a wonderful open concept living area. The remodeled kitchen has new counters, cabinets, stainless steel appliances and farmhouse sink. 1 main floor bedroom and updated bathroom, plus the fully finished and recently updated basement that adds 2 more bedrooms and private laundry closet. Outside, enjoy a privacy fencedbackyard with a concrete patio, firepit area and alley access to parking. 907 has a cozy layout full of character, and has 2 bedrooms, 1 bathroom and 1,340sqft. Wood floors, great light, and space for a gas fireplace in the living room. The galley kitchen has stainless steel appliances and awindow overlooking the side yard. Enjoy 1 bedroom and a full bath upstairs, and the finished and recently remodeled basement adds another bedroom, a bonus room (perfect for a home office!) and laundry closet. This side also features a privacy fenced yard with a pergola-covered patio and access to a detached 2-car garage. Whether you’re looking to offset your mortgage or invest in a solid income property, this is a great find. Call today!

905/907 Clark Lane, Rapid City
$285,000
178471 MLS
Listed by Rich Hegre Engel & Volkers 605-381-RICH(7424) This is a great opportunity to own a west side investment property. This duplex is fully rented with great income. Zero vacancy for over 3 years, gives you peace of mind knowing you will have income.

3417 W Rapid, Rapid City
$999,500
87915 MLS
Listed by Pete Jensen, KWBH, 605-484-6713. Great opportunity to add your investment porfolio- 8 unit apartment complex in central Rapid City with impressive occupancy rate and consistent rental history! Built in 2005, the building has 4 units on the upper level and 4 units on ground level, with a private parking lot. Ground level units are zero-entry for great accessibilty. Upper levels are accessed via recently refreshed decks on either end of the building. Combination of 2 bedroom/1 bathroom and 3 bedroom/2 bathroom units with rent ranging from $875-$1,075/unit, each having private entries, an open concept living space, full kitchen, private in-unit laundry and separate electric meters. Consistently improved on, units have updated kitchens, wall AC, low maintenance flooring, egress windows as needed and all appliances stay. Lots of recent preventive maintenance - water heater replacements, newer roof, deck staining, sprinkler system recharge, etc. Added income potential- room to raise rents or enjoy a strong excellent CAP rate as is. Conveniently located near downtown Rapid City, the Monument Arena and easy access to I90 and the Black Hills.

811 Mallow Street, Rapid City
$899,000
87660 MLS
10 E Quincy Street | Rapid City, SD | 8-Unit Multifamily Investment | Listed by Lori Barnett | Engel & Völkers Black Hills | 605.786.5817 Located minutes from the South Dakota School of Mines & Technology and downtown Rapid City, this 8-unit, non-conforming multifamily property is a compelling acquisition for investors building a Black Hills real estate portfolio. Situated in Rapid City's city center, one of the most consistently occupied rental corridors in Western South Dakota, the building features a diverse unit mix including two studios at $650-700/month, five 2-bedrooms at $1,100/month, and one 3-bedroom at $1,500/month. Coined, common laundry. Dedicated off street parking. All utilities are landlord-paid. Rapid City's continued population growth, low multifamily vacancy rates, and proximity to major employers support strong long-term demand for rental housing in South Dakota.

10 E Quincy Street, Rapid City
$899,000
177758 MLS
10 E Quincy Street | Rapid City, SD | 8-Unit Multifamily Investment | Listed by Lori Barnett | Engel & Völkers Black Hills | 605.786.5817 Located minutes from the South Dakota School of Mines & Technology and downtown Rapid City, this 8-unit, non-conforming multifamily property is a compelling acquisition for investors building a Black Hills real estate portfolio. Situated in Rapid City's city center, one of the most consistently occupied rental corridors in Western South Dakota, the building features a diverse unit mix including two studios at $650-700/month, five 2-bedrooms at $1,100/month, and one 3-bedroom at $1,500/month. Dedicated off street parking. Coined, common laundry. All utilities are landlord-paid. Rapid City's continued population growth, low multifamily vacancy rates, and proximity to major employers support strong long-term demand for rental housing in South Dakota.

10 E Quincy, Rapid City
$265,000
87532 MLS
Offered by Dante Colicheski Black Hills Realty. Excellent investment opportunity in a convenient Rapid City location! This well-maintained duplex offers two spacious units, each with its own private entrance, ample parking, and functional layouts. Both units feature generous living areas, full kitchens, and in-unit laundry hookups, making them highly attractive to tenants. Whether you’re looking to expand your rental portfolio or live in one unit while offsetting your mortgage with income from the other, this property provides flexibility and long-term potential. Situated close to schools, shopping, and major roadways, vacancy risk stays low and rental demand stays high. Don’t miss your chance to secure a solid property with strong returns.

811 Willsie Avenue, Rapid City
$265,000
177591 MLS
Offered by Dante Colicheski Black Hills Realty. Excellent investment opportunity in a convenient Rapid City location! This well-maintained duplex offers two spacious units, each with its own private entrance, ample parking, and functional layouts. Both units feature generous living areas, full kitchens, and in-unit laundry hookups, making them highly attractive to tenants. Whether you’re looking to expand your rental portfolio or live in one unit while offsetting your mortgage with income from the other, this property provides flexibility and long-term potential. Situated close to schools, shopping, and major roadways, vacancy risk stays low and rental demand stays high. Don’t miss your chance to secure a solid property with strong returns.

811 Willsie Ave 811, 813, Rapid City