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    Rapid City, SD Apartment Buildings for Sale

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    Aberdeen, SD Summerset, SD Box Elder, SD Piedmont, SD Black Hawk, SD Keystone, SD Nemo, SD Sturgis, SD
    7 properties
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    8-Unit Apartment Building
    Updated: Mar 27
    8-Unit Apartment Building

    811 Mallow Street, Rapid City, SD 57701

    $999,500
    5,198 sqft 0.40 AC lot
    8‑unit apartment building with 4 ground‑level units and 4 upper‑level units
    5,198‑square‑foot building on a 0.4‑acre site
    Unit mix includes 2‑bedroom/1‑bath and 3‑bedroom/2‑bath apartments
    Zero‑entry access for ground‑floor residences; upper units use exterior decks
    Private entrances, full kitchens, in‑unit laundry, and separate electric meters
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    8-Unit Multifamily Apartment Building
    Updated: Jun 12
    8-Unit Multifamily Apartment Building

    10 E Quincy Street, Rapid City, SD 57701

    $899,000
    0.16 AC lot
    Prime location near South Dakota School of Mines & Technology and downtown Rapid City.
    8‑unit multifamily property in a consistently occupied rental corridor.
    Diverse unit mix: studios, 2‑bedroom, and 3‑bedroom units.
    Strong rental income potential: $650-$1,500/month per unit.
    Off‑street parking and common laundry available.
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    5-Unit Apartment Building
    5-Unit Apartment Building

    1948 Hillsview Dr, Rapid City, SD 57702

    $549,900
    0.90 AC lot

    Updated multifamily property near Canyon Lake Park, schools, shopping, and restaurants with tenant and owner storage options.

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    See hot listings in Rapid City

    Scored against comparables nationwide. These are worth a look.

    Scored against comparables nationwide. These are worth a look.

    Cap Rate available after sign in
    Est. NOI available after sign in
    Local Demand available after sign in
    Eight-Unit Apartment Building
    Eight-Unit Apartment Building

    811 MALLOW ST, Rapid City, SD 57701

    Contact for pricing
    5,198 sqft

    Eight apartments offer varied two- and three-bedroom layouts with on-site private parking.

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    Apartment Buildings with Private Garages
    Apartment Buildings with Private Garages

    4815 5TH ST, Rapid City, SD 57701

    $31,250,000

    Recently built multifamily property with varied unit layouts, in-unit laundry, and professionally managed operations.

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    80-Unit Single-Level Apartment Community
    80-Unit Single-Level Apartment Community

    3151 OUTLOOK CIR, Rapid City, SD 57701

    $12,400,000

    Two- and three-bedroom layouts, garage parking, and shared indoor and outdoor amenities serve residents across the property.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    27-Unit Apartment Building with Garages
    27-Unit Apartment Building with Garages

    3313 Leland Ln, Rapid City, SD 57702

    $1,649,000

    Apartment property with on-site laundry, multiple unit layouts, and separate garage facilities.

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    Based on your search, we've compiled 17 Potential Opportunities for your consideration. Besides 7 Active listings in Rapid City, SD, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 6 Off-Market properties to explore as potential leads

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    5-Unit Apartment Building with Garage
    5-Unit Apartment Building with Garage

    314 5th Street, Spearfish, SD 57783

    $659,000
    4,305 sqft

    Downtown multifamily property with remodeled units, off-street parking, shared laundry, and alley-accessed garage.

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    32-Unit Apartment Building
    32-Unit Apartment Building

    748 Main, Sturgis, SD 57785

    $1,799,000
    22,706 sqft 1.16 AC lot

    Project-based Section 8 assistance is covered by a contract through July 31, 2034.

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    Five-Unit Apartment Building with Garages
    Five-Unit Apartment Building with Garages

    2627-2635 Cottontail Drive, Sturgis, SD 57785

    $995,000
    4,860 sqft

    Single-level residences offer private entrances, individual garages, in-unit laundry, and open-concept living areas.

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    22-Unit Apartment Property
    22-Unit Apartment Property

    TBD 1954-1984 Russell Street, Spearfish, SD 57783

    $5,685,000
    3.25 AC lot

    Modern furnished apartments offer open layouts, private outdoor space, and dedicated off-street parking.

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    Off-Market Properties in Rapid City, SD

    Consider similar Off-Market properties in Rapid City, SD. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    Marlin Dr
    Multifamily properties

    0 Marlin Dr, Rapid City, SD 57703

    Estimated value: by Request
    3.11 AC lot
    View details
    2006 Promise Rd
    HIGH-RISE APARTMENTS

    2006 Promise Rd, Rapid City, SD 57701

    Estimated value:
    $1,820,000
    23,278 sqft 9.23 AC lot
    View details
    330 Philadelphia St
    HIGH-RISE APARTMENTS

    330 Philadelphia St, Rapid City, SD 57701-1810

    Estimated value:
    $580,000
    7,556 sqft 2.71 AC lot
    View details
    1617 Debra Dr
    HIGH-RISE APARTMENTS

    1617 Debra Dr, Rapid City, SD 57702-1007

    Estimated value:
    $995,000
    12,702 sqft 2.31 AC lot
    View details
    636 Cathedral Dr
    HIGH-RISE APARTMENTS

    636 Cathedral Dr, Rapid City, SD 57701-5438

    Estimated value:
    $760,000
    9,678 sqft 3.10 AC lot
    View details
    1018 11th St
    HIGH-RISE APARTMENTS

    1018 11th St, Rapid City, SD 57701-3416

    Estimated value:
    $600,000
    6,868 sqft 0.72 AC lot
    View details

    Rapid City, SD Apartment Buildings Market Trends and Statistics

    Explore 13 apartment buildings for sale in Rapid City, SD, showcased through 7 active listings on our real estate platform. These investment opportunities span a total of 10,396 square feet of properties for sale, with an estimated market value of $47,747,400.

    Sale prices for two-family homes in Rapid City, SD start at $549,900, averaging $7,957,900, and reaching up to $31,250,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 99K
    Population Growth (5Y) +3.2%
    Median Household Income $70,356
    College Educated 33.1%

    High-Yield Neighborhoods for Investment

    Identify Rapid City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    57702 $1.1M
    57701 $11.4M

    Taxes & Financing

    Tax Rate (average for all types) 1.36%
    Property Tax per SF $31.57 per SF
    Tax Rate vs County Average 0.02 pp below county avg
    Average Loan-to-Value 65.0%

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale Residential Income pricing trends in Pennington County

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Rapid City fall within the 25,000 to 50,000 square foot range.

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