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    Hot Springs, SD Multifamily Properties for Sale

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    Custer, SD Buffalo Gap, SD Edgemont, SD
    Historic Hot Springs Mixed-Use Building
    $920,000
    10,395 SF
    Historic Hot Springs Mixed-Use Building

    401 N River St, Hot Springs, SD

    Exceptional historic building with retail, residential, and garage spaces.
    • Largest and most exceptional historic sandstone building for sale in Hot Springs.
    • Prime location on N River Street with high retail traffic.
    • Substantial 10,395 square feet including retail space, loft apartment, and two large garages.
    • Complete overhaul in 2021 with new electrical, plumbing, flooring, paint, and fixtures.
    • New roof installation and roof repairs scheduled to begin in April/May 2023.
    Updated: Nov 5, 2025
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    Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 1 Active listings in Hot Springs, SD, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Prime Custer Mixed-Use Investment
    $2,300,000
    8,700 SF
    Prime Custer Mixed-Use Investment

    Renovated mixed-use property with retail and short-term rental income.

    632 Mt. Rushmore Road, Custer, SD 57730

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    Move-In Ready Duplex with Garages
    $550,000
    2,680 SF
    Move-In Ready Duplex with Garages

    Renovated duplex offers independent living units, privacy-fenced outdoor space, and alley access to parking.

    905/907 Clark Lane, Rapid City, SD 57702

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    Black Hills Recreational Income Property
    $1,119,000
    5,195 SF
    Black Hills Recreational Income Property

    Five-acre property near Custer with short-term rental and recreational income.

    25389 McCurran Ranch Rd, Custer, SD 57730

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    Side-by-Side Duplex Opportunity
    $275,000
    Side-by-Side Duplex Opportunity

    Duplex suitable for home ownership, single family, or investment.

    1918 Ivy Ave, Rapid City, SD 57701

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    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Residential Land in Carpenter, WY
    $82,000
    6.00 Acres
    Residential Land in Carpenter, WY

    Corner lot with no covenants, manufactured housing allowed.

    Road 201, Carpenter, WY 82054

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    Flat Lot in Crystal Lakes
    $150,000
    1.39 Acres
    Flat Lot in Crystal Lakes

    1.39 acre lot with improvements ready for outdoor enjoyment.

    5449 N County Road 73C, Red Feather Lakes, CO 80545

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    Improved Recreational Land in Crystal Lakes
    $165,000
    1.47 Acres
    Improved Recreational Land in Crystal Lakes

    1.47 acre lot with utilities and community amenities.

    5481 N County Road 73C, Red Feather Lakes, CO 80545

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    Improved Lot in Crystal Lakes
    $150,000
    1.39 Acres
    Improved Lot in Crystal Lakes

    1.39 acre lot with improvements ready for outdoor enjoyment.

    5449 N County Road 73C, Red Feather Lakes, CO 80545

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    Off-Market Properties in Hot Springs, SD

    Consider similar Off-Market properties in Hot Springs, SD. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    402 Battle Mountain Ave
    Multifamily properties
    Lot: 1.07 Acres
    Value Estimation by Request

    402 Battle Mountain Ave, Hot Springs, SD 57747

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    Hot Springs, SD Multifamily Properties Investment Opportunities Market Analysis

    Explore 2 multifamily properties for sale in Hot Springs, SD on our real estate platform. These investment opportunities span a total of 10,395 square feet of properties for sale, with an estimated market value of $920,000.

    Sale prices for multifamily properties in Hot Springs, SD start at $920,000, averaging $920,000, and reaching up to $920,000 — 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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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Apartment buildings 1

    Demographics Overview

    Population 5,889
    Population Growth (5Y) -0.4%
    Median Household Income $64,023
    College Educated 32.2%

    Taxes & Financing

    Tax Rate (average for all types) 0.95%
    Property Tax per SF $92.35 per SF
    Average Loan-to-Value 65.0%

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