4815 5TH ST

Description

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.