Brick Triplex with Detached
For Sale
$460,000
305 E PHILADELPHIA, Rapid City, SD 57701
Three residential units offer distinct layouts, private parking options, shared outdoor areas, and individual furnaces and water heaters.
Property Size4,100 SF
Price / SF$112.20
Days on Market42
Property Features for 305 E PHILADELPHIA
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Triplex
Units
Unit Mix
2 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
3
Amenities
central air
dishwasher
coin-operated laundry
shared commons area
backyard
Jacuzzi tub
vaulted ceiling
dedicated storage
Building Details
Year Built
1958
Buildings
1
Construction
brick
Listing Agency:
CINC REALTY LLC
Listed By:
TONY MARSHALL
(605) 391-8669
Source:
Teigenmarchant.kw
Added: Aug 25
Changed: Sep 2
Last Checked: Oct 4 at 6:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CINC REALTY LLC
Investment Insights
Based on property information with market context.
This brick triplex contains more than 4,100 square feet and was built in 1958. The two main-level residences each offer two bedrooms, one bathroom, central air, a dishwasher, and access to the common area and backyard. One includes a private garage, while the other has off-street parking. Both units also have access to coin-operated laundry and dedicated storage. The lower-level residence adds two bedrooms, two bathrooms, a Jacuzzi tub, and a large family room with a vaulted ceiling.
Each unit is equipped with its own furnace and water heater. The property also includes a detached two-car garage, mature trees, and shared outdoor space. Its location at 305 E Philadelphia places it near a city park, bike path, and city recreation center.
Each unit is equipped with its own furnace and water heater. The property also includes a detached two-car garage, mature trees, and shared outdoor space. Its location at 305 E Philadelphia places it near a city park, bike path, and city recreation center.
Key Highlights
- Three‑unit brick property with more than 4,100 square feet
- Built in 1958 with two main‑level units and one lower‑level unit
- Main‑level units each have 2 bedrooms, 1 bathroom, central air, and dishwashers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,246
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,920
$624.9K
Cap Rate 7%
$446,371
$446.4K
Cap Rate 9%
$347,178
$347.2K
Market Conditions
NOI Build-Up for 4,100 SF
Gross rent
$46.7K $11.40/SF
− Vacancy
−$2.1K −$0.51/SF
EGI
$44.6K $10.89/SF
− OpEx
−$13.4K −$3.27/SF
NOI
$31.2K $7.62/SF
Area
Pennington County, SD
Vacancy
4.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,920
Cap Rate 7%
$446,371
Cap Rate 9%
$347,178
Alternative Uses
Best Use
Multifamily LT 5
$446.4K
$390.6K – $520.8K
NOI $31,246 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$415.6K
$363.7K – $484.9K
NOI $29,095 @ 7.0% cap · market cap 6.33%
Theoretical Best
Specialty Retail
$743.3K
$650.4K – $867.2K
NOI $52,029 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
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Business Placement
Demographics for 57701, SD
46,258
Population
20,526
Households
2.3
Avg Household Size
36
Median Age
28%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
886
Density / Sq Mi
$52,733
Median Household Income
$34,971
Median Earnings
$892
Median Rent
$229,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer distinct layouts, private parking options, shared outdoor areas, and individual furnaces and water heaters.
Where is this triplex located?
The property is located at 305 E PHILADELPHIA Rapid City, SD.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Three‑unit brick property with more than 4,100 square feet; Built in 1958 with two main‑level units and one lower‑level unit; Main‑level units each have 2 bedrooms, 1 bathroom, central air, and dishwashers
