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    605 Main Ave Lemmon, SD 57638

    Sponsored
    For Sale
    $100,000

    Five-unit apartment building, high ROI potential.

    Property size:
    2,688 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a five-unit apartment building located at 605 Main Ave, Lemmon, South Dakota, 57638. The property, built in 1930, boasts a total of 2,688 square feet situated on a generous 1.72-acre lot (75,140 square feet). The two-story building comprises five units: four one-bedroom apartments (three currently rented), one unfinished two-bedroom garden apartment, and one unfinished one-bedroom main floor apartment. Renovation of the unfinished units presents a significant value-add opportunity. The property features a full poured basement and coal heating. The total number of bedrooms across all units is six, and there are five full bathrooms. This multifamily property offers a compelling investment prospect with the potential for substantial returns. The existing rental income, combined with the potential for increased revenue from the completion of the unfinished units, makes this a strong contender for investors seeking a hands-on project with high return potential. The property's location in Lemmon, Perkins County, South Dakota provides a stable market for rental properties. This is a rare chance to acquire a well-located, multi-unit building with significant upside. Asking price is $100,000.

    Property Features for 605 Main Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,688 SF
    Lot Size
    74,923 SF

    Building Details

    Year Built
    1930
    Stories
    2
    Units
    5

    HighLights

    • Six bedrooms
    • Five full bathrooms
    • Full poured basement
    • Coal heating
    • 1.72‑acre lot (75,140 sq ft)
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lemmon
    County
    Perkins
    State
    South Dakota
    Longitude
    -102.1598155
    Latitude
    45.9385305

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, high ROI potential.
    Where is this multifamily property located?
    The property is located at 605 Main Ave Lemmon, SD.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: Six bedrooms; Five full bathrooms; Full poured basement
    Request Owner's contact information
    605 Main Ave Lemmon, SD 57638
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    Lemmon, SD 57638
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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
    605 Main Ave Lemmon, SD 57638
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