5-Unit Apartment Building with
For Sale
$659,000
314 5th Street, Spearfish, SD 57783
MULTI-FAMILY, 2 Story, Spearfish, SD
Property Size4,305 SF
Price / SF$153.08
Days on Market165
Property Features for 314 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 2
Exterior features
Paved Street
Subdivision
Original Town
Elementary school district
Spearfish
Middle school district
Spearfish
High school district
Spearfish
Directions
From Jackson Blvd turn south onto N 5th Street, continue to the end of 5th. Property is on the left.
Standard status
Active
Size
4,305 SF
Utilities
Heating system
Natural Gas, Baseboard, Electric (Heating), Wall Furnace
Cooling system
Evaporative Cooling
Amenities
common laundry room area
Building Details
Year built
1952
Floors in Building
2
Number of units
5
Roof type
Metal
Architectural style
Other
Listing Agency:
Great Peaks Realty
(605) 717-7325
Listed By:
Heath Gran · License #12630
(605) 209-2052
Added: Mar 9
Changed: Aug 19
Last Checked: Aug 20 at 3:06PM
MLS# 87691
Copyright © 2026 Mt. Rushmore Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5-unit apartment property at 314 5th Street contains 4,305 square feet and was built in 1952. Four apartments have been updated with new appliances, fixtures, flooring, cabinets, vanities, countertops, sinks, and toilets. Four units offer 1 bedroom and 1 bathroom, while the basement apartment provides 2 bedrooms and 1 bathroom. The basement also includes a shared laundry area.
The property is in downtown Spearfish and currently reports 100% occupancy. On-site parking includes front off-street spaces and additional parking near a detached garage reached from the alley. Building systems include natural gas, baseboard, electric heating, wall furnace heat, and evaporative cooling. The metal roof was installed in summer 2025.
The property is in downtown Spearfish and currently reports 100% occupancy. On-site parking includes front off-street spaces and additional parking near a detached garage reached from the alley. Building systems include natural gas, baseboard, electric heating, wall furnace heat, and evaporative cooling. The metal roof was installed in summer 2025.
Key Highlights
- 5‑unit apartment property with 4,305 square feet
- 100% occupancy rate
- Unit mix includes four 1‑bedroom, 1‑bath apartments and one 2‑bedroom, 1‑bath basement unit
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 57783, SD
16,165
Population
8,347
Households
1.9
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
213.2 sq mi
ZIP Area
76
Density / Sq Mi
$64,970
Median Household Income
$35,014
Median Earnings
$946
Median Rent
$332,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Downtown multifamily property with remodeled units, off-street parking, shared laundry, and alley-accessed garage.
Where is this apartment building located?
The property is located at 314 5th Street Spearfish, SD.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: 5‑unit apartment property with 4,305 square feet; 100% occupancy rate; Unit mix includes four 1‑bedroom, 1‑bath apartments and one 2‑bedroom, 1‑bath basement unit
