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Rapid City, SD

Multifamily

Rapid City, SD Multifamily Properties for Sale

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Box Elder, SD Piedmont, SD Keystone, SD Nemo, SD Sturgis, SD Hermosa, SD Hill City, SD New Underwood, SD

10 properties

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Rapid City Multifamily Value-Add Opportunity

Updated: Mar 7

Rapid City Multifamily Value-Add Opportunity

10 E Quincy St, Rapid City, SD 57701

$899,000

4,953 sqft

Value‑add opportunity with three intentionally vacant units for immediate stabilization and increased income.
Proven unit mix generating $67,200 annual gross income with potential to reach $100,200 at full stabilization.
Below‑market three‑bedroom lease renewal in August 2026 offers additional revenue growth potential.
Located in Rapid City's Midtown corridor, close to South Dakota School of Mines and Technology and downtown.
Strong rental market supported by SDSM&T, Monument Health, downtown professionals, and Black Hills in‑migration.

This listing looks promising.

Here's a quick look at some key insights for

10 E Quincy St, Rapid City, SD 57701

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Est. Cap Rate

3.9%
NOI ÷ price
Est. NOI

$35K
Annual
Price @ 7% Cap

$502K
Suggested
Property Type

Multi-Family Dwellings
Built 1956

View Property Analytics

8-Unit Apartment Building with Parking

Updated: Mar 27

8-Unit Apartment Building with Parking

811 Mallow Street, Rapid City, SD 57701

$999,500

5,198 sqft 0.40 AC lot

8‑unit apartment complex built in 2005 with 4 units on the upper level and 4 units on ground level
Unit mix includes 2BD/1BA and 3BD/2BA units; rent ranges from $875 to $1,075 per unit
Each unit has private entry, open‑concept living space, full kitchen, and private in‑unit laundry; separate electric meters
Ground‑level units are zero‑entry for accessibility; upper units are accessed via refreshed decks on both ends
Private parking lot and paved street; frame construction with composition roof

8-Unit Multifamily Apartment Building

8-Unit Multifamily Apartment Building

10 E Quincy Street, Rapid City, SD 57701

$899,000

0.16 AC lot

Eight-unit multifamily property with coin-operated laundry, off-street parking, and landlord-paid utilities.

8-Unit Multifamily Investment

8-Unit Multifamily Investment

10 E QUINCY, Rapid City, SD 57701

$899,000

8-unit multifamily building with off-street parking, coined common laundry, and landlord-paid utilities on a non-conforming zoning basis.

Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center

Move-In Ready Duplex with Garages

Move-In Ready Duplex with Garages

905/907 Clark Lane, Rapid City, SD 57702

$550,000

2,680 sqft

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

Rented Duplex Investment Property

Rented Duplex Investment Property

3417 W Rapid Street, Rapid City, SD 57702

$285,000

Duplex in Rapid City offered for sale, fully rented with zero vacancy reported for over three years.

Rented Duplex Investment

Rented Duplex Investment

3417 W RAPID, Rapid City, SD 57702

$285,000

Conforming duplex with both units rented and zero vacancy for over three years.

Updated Mobile Home in Rapid

Updated Mobile Home in Rapid

1980 Lot #33 Country Road, Rapid City, SD 57701

$78,000

Move-in ready 3 bed, 2 bath mobile home for sale.

Rented Duplex Investment Property

Rented Duplex Investment Property

3417 W Rapid Street, Rapid City, SD 57702

$285,000

Fully rented duplex investment property with zero vacancy reported for over three years.

Side-by-Side Duplex Opportunity

Side-by-Side Duplex Opportunity

1918 Ivy Ave, Rapid City, SD 57701

$275,000

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

Based on your search, we've compiled 24 Potential Opportunities for your consideration. Besides 10 Active listings in Rapid City, SD, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 6 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.

Well-Kept Duplex With Covered Deck

Well-Kept Duplex With Covered Deck

118 Spark Street, Lead, SD 57754

$300,000

2,088 sqft

This duplex in Lead features in-unit laundry for both units and a covered deck and patio area.

Two-Unit Residential Income Duplex

Two-Unit Residential Income Duplex

324 White Street, Lead, SD 57754

$400,000

2,690 sqft

Two-level main residence plus a separate ADU apartment, each with dedicated laundry, on a secured shared property.

Four-Plex Residential Income Property

Four-Plex Residential Income Property

2100 E Ida St, Sturgis, SD 57785

$559,900

4,572 sqft

Well-maintained four-plex with in-unit laundry hookups, designated storage, and outdoor decks/patios.

Triplex Income Property Fixer-Upper

Triplex Income Property Fixer-Upper

1958 Junction Avenue, Sturgis, SD 57785

$249,500

Triplex with three rented single-family homes needing significant updates and repairs.

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

Residential Land in Carpenter, WY

Road 201, Carpenter, WY 82054

$82,000

6.00 AC lot

Corner lot with no covenants, manufactured housing allowed.

Commercial Land with RV Park

Commercial Land with RV Park

1003 W Bell St, Glendive, MT 59330

$435,000

3.88 AC lot

Mobile home and RV park with expansion potential in Glendive.

Residential Subdivision Land Opportunity

Residential Subdivision Land Opportunity

1 Rainbow Estates, Glendive, MT 59330

$50,000

49-lot subdivision suitable for various residential development projects.

Bellvue Land with Mobile Home

Bellvue Land with Mobile Home

277 Riverside Dr, Bellvue, CO 80512

$200,000

0.21 AC lot

Land with mobile home near Poudre River and Chambers Lake.

Off-Market Properties in Rapid City, SD

Consider similar Off-Market properties in Rapid City, 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.

Multifamily properties

0 Marlin Dr, Rapid City, SD 57703

Value Estimation by Request

3.11 AC lot

2006 Promise Rd

HIGH-RISE APARTMENTS

2006 Promise Rd, Rapid City, SD 57701

$1,820,000

Estimated value

23,278 sqft 9.23 AC lot

330 Philadelphia St

HIGH-RISE APARTMENTS

330 Philadelphia St, Rapid City, SD 57701-1810

$580,000

Estimated value

7,556 sqft 2.71 AC lot

HIGH-RISE APARTMENTS

1617 Debra Dr, Rapid City, SD 57702-1007

$995,000

Estimated value

12,702 sqft 2.31 AC lot

636 Cathedral Dr

HIGH-RISE APARTMENTS

636 Cathedral Dr, Rapid City, SD 57701-5438

$760,000

Estimated value

9,678 sqft 3.10 AC lot

HIGH-RISE APARTMENTS

1018 11th St, Rapid City, SD 57701-3416

$600,000

Estimated value

6,868 sqft 0.72 AC lot

Rapid City, SD Multifamily Properties Market Trends and Statistics

Explore 16 multifamily properties for sale in Rapid City, SD, showcased through 10 active listings on our real estate platform. These investment opportunities span a total of 12,831 square feet of properties for sale, with an estimated market value of $2,448,500.

Sale prices for multifamily properties in Rapid City, SD start at $550,000, averaging $816,166, and reaching up to $999,500 — 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

Demographics Overview

Population 99K

Population Growth (5Y) +3.2%

Median Household Income $70,356

College Educated 33.1%

High-Yield Neighborhoods for Investment

Identify Rapid City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
57702	$366.7K
57701	$708.4K

Taxes & Financing

Tax Rate (average for all types) 1.36%

Property Tax per SF $31.57 per SF

Tax Rate vs County Average 0.02 pp below county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Pennington County

New Delisted

Total CRE Inventory on Market (SF)

Property Size Breakdown

The majority of commercial real estate listings in Rapid City fall within the 25,000 to 50,000 square foot range.

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