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    123 E Nowlin St Rapid City, SD 57701

    Sponsored
    For Sale
    $1,625,000

    Other - Rapid City, SD

    Type:Multi Family
    Days on Market:
    92
    Last Refresh:
    Jan 5 at 2:06 pm

    Property Features for 123 E Nowlin St

    General Information

    Property type
    Other
    Property subtype
    Multi Family
    Standard status
    Active
    Zoning
    Conforming
    Appliances
    Range, Refrigerator

    Utilities

    Heating system
    Forced Air
    Cooling system
    Electric, Multi Units, Window Unit(s)

    Building Details

    Year built
    1963
    Roof type
    Other
    Architectural style
    Other

    Engel & Völkers Rapid City [email protected]

    Listing agent NICOLE PETRIK (605) 716-4847

    Listing date Oct 6, 2025

    MLS# 173023 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Rapid City Multifamily Investment Opportunity

    This well-maintained 12-unit complex, consisting of six duplexes, presents an investment opportunity in Rapid City, South Dakota. Each unit features 2 bedrooms and 1 bathroom, and is equipped with a stove, refrigerator, window air conditioner, gas water heater, and forced air heating. Washer and dryer hookups are available in each unit. Select units have been upgraded with LVT flooring in the living room and kitchen areas. The property includes alley access and off-street parking. Tenants are responsible for covering their own gas and electric utilities. Each duplex is situated on a separately plotted lot with its own legal description, offering the option to sell the duplexes individually or as a complete package.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rapid City
    County
    Pennington
    State
    South Dakota
    Longitude
    -103.211238
    Latitude
    44.095688

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 12-unit complex in growing Rapid City, South Dakota.
    Where is this apartment building located?
    The property is located at 123 E Nowlin St Rapid City, SD.
    What is the asking price?
    The asking price for this property is $1,625,000.
    What are key features of this property?
    This property features: - 12-unit complex (six duplexes) offering a significant investment opportunity in a growing market (Rapid City).; - Each duplex sits on a separately plotted lot, allowing for individual sale or package sale flexibility.; - Each unit features 2 bedrooms and 1 bathroom, appealing to a broad tenant base.
    (605) 716-4847
    Request Owner's contact information
    123 E Nowlin St Rapid City, SD 57701
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    Rapid City, SD 57701
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    123 E Nowlin St Rapid City, SD 57701
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