1601 Evanston Ave Ave Hot Springs, SD 57747
Section 8 multifamily property in Hot Springs, South Dakota.
Lot size:
1.50 AcresProperty Features for 1601 Evanston Ave Ave
General Information
- Lot size
- 1.50 Acres
- Exterior features
- exterior_features, : ["Composition"]
- Interior features
- Interior Feature 1, : "Baseboard", "Interior Feature 2": "Electric", "Interior Feature 3": "Window Unit(s)", "Interior Feature 4": "Refrigerator", "Interior Feature 5": "Range"
Building Details
- Year built
- 1978
Source:
Kw
Listing Agent: Brooks Commercial Real Estate
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Hot Springs Multifamily Investment Property
This multifamily property in Hot Springs, SD, operates under a HUD Section 8 HAP Contract. The unit mix comprises four one-bedroom/one-bathroom units, twelve two-bedroom/one-bathroom units, and four three-bedroom/one-bathroom units. Each unit is equipped with a stove, refrigerator, air conditioning, electric baseboard/cove heat, carpet/vinyl floor coverings, and mini-blinds. Property amenities include off-street parking, two laundry rooms, a playground with a new fence planned for installation around the playground in October 2025, a picnic area, an on-site office (currently not in use), and an on-site maintenance room. The owner is responsible for water, sewer, trash removal, repairs/maintenance, lawn care, and snow removal. Tenants are responsible for electric, phone, cable, and internet services. The property has 20 units with 100% Section 8 coverage under contract number SD99-H001-066, renewal option 4, with a term expiring on April 30, 2040, and designated for family occupancy. A Management Occupancy Review (MOR) in July 2025 rated the property as Above-Average, and a REAC score of 97c was recorded in December 2022. The property benefits from a 100% Project-Based Section 8 rental subsidy. The property is currently financed through a HOME Loan, and there may be an opportunity for the purchaser to assume the existing HOME debt, subject to approval by the South Dakota Housing Development Authority (SDHDA).
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Hot Springs
- County
- Fall River
- State
- South Dakota
- Longitude
- -103.484
- Latitude
- 43.346
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FAQs
What type of property is this?
Apartment building - Section 8 multifamily property in Hot Springs, South Dakota.
Where is this apartment building located?
The property is located at 1601 Evanston Ave Ave Hot Springs, SD.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: - 100% Project-Based Section 8 rental subsidy with a contract expiring April 30, 2040.; - Above-Average Management Occupancy Review (MOR) as of July 2025.; - Features a mix of unit sizes: four 1-bedroom, twelve 2-bedroom, and four 3-bedroom units.