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    Rapid City, SD Multifamily Properties for Sale

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    Aberdeen, SD Black Hawk, SD Summerset, SD Box Elder, SD Piedmont, SD Keystone, SD Sturgis, SD Hermosa, SD
    28 properties
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    8-Unit Apartment Building
    Updated: Mar 27
    8-Unit Apartment Building

    811 Mallow Street, Rapid City, SD 57701

    $999,500
    5,198 sqft 0.40 AC lot
    8‑unit apartment building with 4 ground‑level units and 4 upper‑level units
    5,198‑square‑foot building on a 0.4‑acre site
    Unit mix includes 2‑bedroom/1‑bath and 3‑bedroom/2‑bath apartments
    Zero‑entry access for ground‑floor residences; upper units use exterior decks
    Private entrances, full kitchens, in‑unit laundry, and separate electric meters
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    8-Unit Multifamily Apartment Building
    Updated: Jun 12
    8-Unit Multifamily Apartment Building

    10 E Quincy Street, Rapid City, SD 57701

    $899,000
    0.16 AC lot
    Prime location near South Dakota School of Mines & Technology and downtown Rapid City.
    8‑unit multifamily property in a consistently occupied rental corridor.
    Diverse unit mix: studios, 2‑bedroom, and 3‑bedroom units.
    Strong rental income potential: $650-$1,500/month per unit.
    Off‑street parking and common laundry available.
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    Up-and-Down Duplex with Garage
    Up-and-Down Duplex with Garage

    611 St. Patrick Street, Rapid City, SD 57701

    $245,000
    1,928 sqft

    Two-level duplex with a three-bedroom main residence, lower studio, shared laundry, and off-street parking.

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    Scored against comparables nationwide. These are worth a look.

    Scored against comparables nationwide. These are worth a look.

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    Brick Triplex with Detached Garage
    Brick Triplex with Detached Garage

    305 E PHILADELPHIA, Rapid City, SD 57701

    $460,000
    4,100 sqft

    Three residential units offer distinct layouts, private parking options, shared outdoor areas, and individual furnaces and water heaters.

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    Side-by-Side Duplex with Garages
    Side-by-Side Duplex with Garages

    905/907 Clark Lane, Rapid City, SD 57702

    $550,000
    2,680 sqft

    Side-by-side duplex with finished basements, updated interiors, fenced yards, and separate outdoor areas.

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    Fully Rented Duplex
    Fully Rented Duplex

    3417 W RAPID, Rapid City, SD 57702

    $285,000

    Two-unit residential property with current occupancy and an established operating history.

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    Two-Story Duplex
    Two-Story Duplex

    3417 W Rapid Street, Rapid City, SD 57702

    $285,000

    Income property with sustained occupancy and separate heating and cooling systems.

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    5-Unit Apartment Building
    5-Unit Apartment Building

    1948 Hillsview Dr, Rapid City, SD 57702

    $549,900
    0.90 AC lot

    Updated multifamily property near Canyon Lake Park, schools, shopping, and restaurants with tenant and owner storage options.

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    Cabin Resort with Main Residence
    Cabin Resort with Main Residence

    13310 Silver Mountain Rd, Rapid City, SD 57702

    $2,385,000

    Five guest cabins and a custom-built home make up this multi-building hospitality property near Black Hills attractions.

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    Eight-Unit Apartment Building
    Eight-Unit Apartment Building

    811 MALLOW ST, Rapid City, SD 57701

    Contact for pricing
    5,198 sqft

    Eight apartments offer varied two- and three-bedroom layouts with on-site private parking.

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    Apartment Buildings with Private Garages
    Apartment Buildings with Private Garages

    4815 5TH ST, Rapid City, SD 57701

    $31,250,000

    Recently built multifamily property with varied unit layouts, in-unit laundry, and professionally managed operations.

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    Downtown Two-Unit Duplex
    Downtown Two-Unit Duplex

    711 5th St, Rapid City, SD 57702

    $600,000

    Commercially zoned property with residential occupancy, basement access, and a detached single-car garage.

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    Furnished Side-by-Side Duplex
    Furnished Side-by-Side Duplex

    200 Saint Cloud St, Rapid City, SD 57701

    $455,000

    Each residence offers a single-level layout with a kitchen, living room, and laundry area.

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    Triplex with Detached ADU
    Triplex with Detached ADU

    510 E Chicago, Rapid City, SD 57701

    $309,900

    Non-conforming tri-plex includes a main residence, finished basement suite, and detached one-bedroom efficiency cottage with electrical upgrades.

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    Side-by-Side Duplex
    Side-by-Side Duplex

    118 E SIGNAL DR, Rapid City, SD 57701

    $198,900

    Both residences have two bedrooms, laundry connections, and fenced outdoor areas.

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    80-Unit Single-Level Apartment Community
    80-Unit Single-Level Apartment Community

    3151 OUTLOOK CIR, Rapid City, SD 57701

    $12,400,000

    Two- and three-bedroom layouts, garage parking, and shared indoor and outdoor amenities serve residents across the property.

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    Duplex Property With Mobile Home
    Duplex Property With Mobile Home

    5823 Corbin Dr, Rapid City, SD 57703

    $229,900
    0.69 AC lot

    Two homes offer finished rental space alongside an unfinished lower-level unit for added flexibility.

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    Side-by-Side Duplex with Storage
    Side-by-Side Duplex with Storage

    801 N MAPLE AVE, Rapid City, SD 57701

    $285,000

    Separate metering, private laundry, and recent exterior improvements support straightforward property management.

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    Two-Unit Duplex with Newer Roof
    Two-Unit Duplex with Newer Roof

    811 N Maple Ave, Rapid City, SD 57701

    $265,000

    Raised-ranch duplex with matching two-bedroom layouts, one bathroom per unit, basement space, and a storage shed.

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    Duplex with Detached Garage
    Duplex with Detached Garage

    820 BLAINE AVE, Rapid City, SD 57701

    $285,000

    Income property offering fenced outdoor areas, alley-accessed garage space, and off-street parking.

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    Two-Residence Duplex Property
    Two-Residence Duplex Property

    421 Spruce, Rapid City, SD 57701

    $170,000

    Separate residences occupy one lot and require repair and renovation work.

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    Duplex Investment Property
    Duplex Investment Property

    809 HALLEY AVE, Rapid City, SD 57701

    $265,000

    Two-unit residential asset at an established Rapid City address.

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    Fourplex with Private Entrances
    Fourplex with Private Entrances

    1311 Carolyn Ct, Rapid City, SD 57701

    $699,000

    Four rental residences offer individual decks or balconies, paved parking, and laundry hookups.

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    Updated Duplex with Rented Lower Unit
    Updated Duplex with Rented Lower Unit

    625 Saint Cloud St, Rapid City, SD 57701

    $325,000
    1,747 sqft

    Upper-level improvements include a new kitchen, carpeting, paint, trim, and flooring, while the lower unit is occupied.

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    Rapid City, SD Multifamily Properties Market Trends and Statistics

    Explore 34 multifamily properties for sale in Rapid City, SD, showcased through 28 active listings on our real estate platform. These investment opportunities span a total of 23,203 square feet of properties for sale, with an estimated market value of $56,612,000.

    Sale prices for multifamily properties in Rapid City, SD start at $78,000, averaging $2,096,740, and reaching up to $31,250,000 — 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

    Duplexes 14
    Apartment buildings 7
    Triplexes 3
    Mobile home & RV parks 1
    Short term rental properties 1

    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
    57703 $229.9K
    57702 $823.6K
    57701 $2.7M

    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%

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale Residential Income pricing trends in Pennington County

    Residential Income

    Property Size Breakdown

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

    How Realmo verifies these figures

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    Most Searched ZIP Codes in Rapid City, SD

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    • 57702
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