Downtown 5-Plex Residential Income

314 5th Street, Spearfish, SD 57783

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For Sale

$659,000

MULTI_FAMILY - Spearfish, SD

Property size:

4,305 SF

Price / SF:

$153/SF

HighLights

5‑plex in downtown Spearfish operating at 100% occupancy
All units are 1‑bedroom, 1‑bath, except the basement unit offers 2 bedrooms and 1 bathroom
4 units remodeled with new appliances and fixtures, flooring, cabinets, vanities and countertops, sinks and toilets
Detached garage accessed from the alley, plus additional parking and front off‑street parking
Brand‑new metal roof installed summer 2025
Heating includes natural gas and electric (heating) with baseboard and wall furnace; evaporative cooling

We can help!

Listing Contact

Heath Gran

For Sale

$659,000

MULTI_FAMILY - Spearfish, SD

Property size:

4,305 SF

Price / SF:

$153/SF

Added:: Mar 9, 2026
Days on Market:: 95
Last Refresh:: Jun 11 at 7:06 pm

Property Features for 314 5th Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 6
Rooms: Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 3
Exterior features: Paved Street
Standard status: Active
Size: 4,305 SF

Utilities

Heating system: Natural Gas, Baseboard, Wall Furnace, Electric (Heating)
Cooling system: Evaporative Cooling

Building Details

Year built: 1952
Floors in Building: 2
Number of units: 5
Roof type: Metal
Architectural style: Other

We can help!

Listing Contact

Heath Gran

Listing agent Heath Gran License #SD 12630

Listing office Great Peaks Realty 115 E Hudson, Spearfish, SD

Listing date Mar 9, 2026

MLS# 87691 Listing URL

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.

HighLights

5‑plex in downtown Spearfish operating at 100% occupancy
All units are 1‑bedroom, 1‑bath, except the basement unit offers 2 bedrooms and 1 bathroom
4 units remodeled with new appliances and fixtures, flooring, cabinets, vanities and countertops, sinks and toilets
Detached garage accessed from the alley, plus additional parking and front off‑street parking
Brand‑new metal roof installed summer 2025
Heating includes natural gas and electric (heating) with baseboard and wall furnace; evaporative cooling

Overview

This residential income property is a 5-plex apartment building in Spearfish, offering four 1-bedroom, 1-bath units and one larger basement unit with 2 bedrooms and 1 bathroom. The basement level also includes a common laundry room area. Public remarks indicate that four of the five units have been remodeled with updated appliances and fixtures, flooring, cabinets, vanities and countertops, sinks, and toilets.

The property includes a detached garage that is accessed from the alley, along with additional parking and front off-street parking. A brand-new roof was installed in summer 2025.

For tenants, the mix of unit sizes can support different household needs, including both 1-bedroom and a 2-bedroom option, while the common laundry area provides shared in-building convenience. For buyers or operators, the recently remodeled unit interiors and recent roof replacement may help reduce near-term capital concerns, and the on-site parking and alley-access garage are practical features for day-to-day operations.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Spearfish
County: Lawrence
State: South Dakota
Longitude: -103.859053
Latitude: 44.485899

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For sale
Apartment buildings
SD
Spearfish
57783
314 5th Street

What type of property is this?

Apartment building - Five-unit apartment building with updated interiors, detached garage access, and an on-site common laundry area.

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‑plex in downtown Spearfish operating at 100% occupancy; All units are 1‑bedroom, 1‑bath, except the basement unit offers 2 bedrooms and 1 bathroom; 4 units remodeled with new appliances and fixtures, flooring, cabinets, vanities and countertops, sinks and toilets

314 5th Street, Spearfish, SD 57783

MULTI_FAMILY - Spearfish, SD

Property Features for 314 5th Street

General Information

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Spearfish Commercial Building on I-90

Turnkey Motel/Airbnb Investment Opportunity

New Commercial Garage in Spearfish

Renovated Commercial Building in Spearfish

Spearfish Commercial Building with Expansion Potential

Brand New 24x48 Industrial Shop

Investment Duplex and Office Barn

Ranch Duplex with Pole Barn

Profitable Lawn Care Business Opportunity

New Multi-Use Industrial Building

Established Landscaping Business Opportunity

Retail Space with Creek Access

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