South Dakota Multifamily Properties for Sale

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Sioux Falls, SD Rapid City, SD Aberdeen, SD Lead, SD Watertown, SD Huron, SD Spearfish, SD Tea, SD

111 properties

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Updated: May 12

Sioux Falls Multifamily Investment Opportunity

809 South Sherman Avenue, Sioux Falls, SD 57104

$910,000

9,602 sqft

HUD contract in place through April 2030, providing stable income.
Project‑based Section 8 apartments, ensuring consistent occupancy.
Located near downtown Sioux Falls and Avera’s campus, offering convenient access to amenities and employment.
Fantastic asset for building an affordable multifamily portfolio.
Upside potential available after contract expiration.

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This listing looks promising.

Here's a quick look at some key insights for

809 South Sherman Avenue, Sioux Falls, SD 57104

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Est. Cap Rate

8.5%
Above avg (5.9%)
Est. NOI

$77K
Annual
Price @ 7% Cap

$1.1M
Above asking
Property Type

Multi-Family Dwellings
Built 1977

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Updated: Jun 29

Single-Level 4-Plex Rental Buildings

1100 E Elder St, Canton, SD 57013

$2,150,000

13,984 sqft 1.49 AC lot

4‑plex with 2 bedrooms, 1 bath per unit and laundry hookups in each unit
Each unit has a single attached garage, with one‑level layout (no steps)
Tenant‑paid utilities; landlord provides lawn service and snow removal
Updated with new siding in 2023; many units have recent interior paint and floor coverings
16 additional detached garage stalls available as rented storage or extra garage space

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Four-Plex Townhome-Style Rental

2800 E Madison St, Sioux Falls, SD 57103

$640,000

5,200 sqft 0.40 AC lot

Immaculately maintained four-plex with two-bedroom units, in-unit laundry, and tenant parking for steady residential income.

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New Construction Duplex Investment

1113 S Foss Ave, Sioux Falls, SD 57110

$1,030,000

5,592 sqft 0.41 AC lot

Ranch-style walkout duplex with premium finishes and two units featuring four bedrooms and three bathrooms each.

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Historic 10-Unit Apartment Building

303 N 4th St, Aberdeen, SD 57401

$689,702

7,728 sqft

For sale historic apartment building with 10 units in a 7,728 SF structure built in 1889.

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8-Unit Apartment Building with Parking

811 Mallow Street, Rapid City, SD 57701

$999,500

5,198 sqft 0.40 AC lot

Eight-unit apartment building with private parking, zero-entry ground access, and in-unit laundry plus separate electric meters.

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New Construction Walkout Duplex

1107 S Foss Ave, Sioux Falls, SD 57110

$980,000

5,220 sqft 0.41 AC lot

Each ranch-style walkout residence offers 4 bedrooms and 3 bathrooms with an open-concept layout and vaulted ceilings.

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Fourplex Income Property

2601 E Pioneer Trl, Sioux Falls, SD 57103

$539,000

3,264 sqft 0.32 AC lot

Four units with active tenants, plus a four-stall garage and five additional parking spaces.

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Fully Leased Eightplex Apartment

509 N. 5th Street, Beresford, SD 57004

$700,000

7,258 sqft

Fully leased two-story eightplex with on-site common area laundry, four garage stalls, and recent exterior renovations.

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Fourplex with Detached Garages

2900 E Klondike Trl, Sioux Falls, SD 57103

$549,000

3,776 sqft 0.32 AC lot

Four spacious two-bedroom units each include a detached single-stall garage, supporting straightforward resident parking and storage.

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Well-Maintained 4-Plex Property

3005 S Cliff Ave, Sioux Falls, SD 57105

$600,000

4,260 sqft 0.48 AC lot

Well-kept four-unit property with central air, boiler heat, wood-burning fireplaces, and eight garages.

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Vermillion Multifamily Investment Opportunity

1000 South Crawford Road, Vermillion, SD 57069

$2,080,000

6,560 sqft 0.72 AC lot

Stabilized 24-unit multifamily property in Vermillion, South Dakota.

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Downtown 5-Plex Residential Income

314 5th Street, Spearfish, SD 57783

$659,000

4,305 sqft

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

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Townhome-Style Multifamily Property

4802 S Hosta Ave, Sioux Falls, SD 57110

$7,950,000

59,544 sqft 3.08 AC lot

For sale nearly new 42-unit townhome-style apartment community with attached garages and in-unit laundry in Sioux Falls.

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Sioux Falls 6-Plex Investment

1011 S 2nd Ave, Sioux Falls, SD 57105

$675,000

5,832 sqft 0.17 AC lot

Well-maintained 6-plex in central Sioux Falls with income potential.

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Five-Unit Multifamily Property

511 -517 Main St S, Lennox, SD 57039

$325,000

4,372 sqft 0.16 AC lot

Five-unit rental building with coin-operated laundry, separate electric meters, and a newer boiler for reliable heating.

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Turnkey 20-Unit Motel Property

925 North 3rd Street, Spearfish, SD 57783

$1,700,000

5,787 sqft

Zoned C-1 commercial motel/Airbnb with plans for two duplexes and a completed flood study.

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Well-Maintained 5-Plex Apartment Building

2405-2416 Prairie Eagle Cir, Huron, SD 57350

$599,900

5,744 sqft 0.46 AC lot

Single-level 5-plex with five units and individual garages, offering an income-producing multifamily setup in Huron.

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Multifamily Investment Opportunity

510 N. 5th Street, Beresford, SD 57004

$700,000

14,516 sqft

Fully leased multifamily property with recent renovations and garage stalls.

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Three-Duplex Multifamily Property

802 Miners Avenue, Lead, SD 57754

$275,000

3,894 sqft

This multifamily property consists of three duplexes providing four rental units in total. The unit mix includes one 2-bedroom unit and the remaining spaces are 1-bedroom or efficiency-type layouts. The larger home includes a sun porch, and the property also features a 2-car garage. The seller describes the property as needing major TLC.

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Rapid City Multifamily Value-Add Opportunity

10 E Quincy St, Rapid City, SD 57701

$899,000

4,953 sqft

8-unit multifamily property with value-add potential in Rapid City.

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Furnished Triplex in Sioux Falls

2504 S Summit Ave, Sioux Falls, SD 57105

$450,000

2,420 sqft 0.22 AC lot

Triplex with flexible rental potential near amenities in Sioux Falls.

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54-Unit Multifamily Community

4601 E 26th St, Sioux Falls, SD 57110

$5,400,000

137,238 sqft

54-unit community built in the 1990s with one- and two-bedroom apartments, 53 private garages, and on-site laundry.

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Mixed-Use Duplex Investment

524 N Main Ave, Garretson, SD 57030

$113,999

1,414 sqft 0.08 AC lot

Duplex with a leased lower commercial unit and a fully remodeled two-bedroom apartment upstairs.

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South Dakota Multifamily Properties Market Trends and Statistics

Explore 111 multifamily properties for sale in South Dakota, showcased through 111 active listings on our real estate platform. These investment opportunities span a total of 2,890,512 square feet of properties for sale, with an estimated market value of $136,673,877.

Sale prices for multifamily properties in South Dakota start at $100,000, averaging $2,397,787, and reaching up to $31,000,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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