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    Rapid City, SD Multifamily Properties for Sale

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    Box Elder, SD Black Hawk, SD Summerset, SD
    9 results
    Rapid City Apartment Investment Opportunity
    $999,500
    5,198 SF

    Rapid City Apartment Investment Opportunity

    811 Mallow Street, Rapid City, SD 57701

    Eight-unit apartment complex in central Rapid City with high occupancy.

    • High occupancy rate and consistent rental history.
    • Eight‑unit apartment complex built in 2005.
    • Combination of 2 and 3 bedroom units with in‑unit laundry and separate electric meters.
    • Recent preventative maintenance including newer roof and water heater replacements.
    • Ground level units are zero‑entry for accessibility.
    Updated: Mar 27
    View details
    Rapid City Multifamily Investment Property
    $899,000
    0.16 Acres

    Rapid City Multifamily Investment Property

    10 E Quincy Street, Rapid City, SD 57701

    8-unit multifamily property near downtown and School of Mines.

    • 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.
    Updated: Apr 22
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    8-Unit Multifamily Investment
    $899,000

    8-Unit Multifamily Investment

    Well-maintained 8-unit multifamily asset with off-street parking and landlord-paid utilities for steadier rental income.

    10 E QUINCY, Rapid City, SD 57701
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    Move-in Ready Rapid City Duplex
    $550,000
    2,680 SF

    Move-in Ready Rapid City Duplex

    Renovated duplex in central Rapid City with income potential.

    905/907 Clark Lane, Rapid City, SD 57702
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    Rapid City Duplex Investment Opportunity
    $285,000
    1,640 SF

    Rapid City Duplex Investment Opportunity

    Up/down duplex with recent updates in Northwest Rapid City.

    3225 W Rapid Street, Rapid City, SD 57702
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    Rapid City Duplex Investment Property
    $285,000

    Rapid City Duplex Investment Property

    Fully rented duplex in Rapid City with consistent income.

    3417 W Rapid Street, Rapid City, SD 57702
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    Rapid City Multifamily Value-Add Opportunity
    $1,099,900
    4,953 SF

    Rapid City Multifamily Value-Add Opportunity

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

    10 E Quincy St, Rapid City, SD 57701
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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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    Updated Mobile Home in Rapid
    $78,000

    Updated Mobile Home in Rapid

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

    1980 Lot #33 Country Road, Rapid City, SD 57701
    View details
    Based on your search, we've compiled 23 Potential Opportunities for your consideration. Besides 9 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.

    Remodeled Duplex in Lead, SD
    $309,900

    Remodeled Duplex in Lead, SD

    Recently remodeled duplex with modern amenities and convenient location.

    8 Baltimore Street, Lead, SD 57754
    View details
    Renovated Multi-Family Property in Custer
    $1,550,000

    Renovated Multi-Family Property in Custer

    Thirteen-unit property near downtown Custer with renovation and furnished units.

    437 Montgomery St, Custer, SD 57730
    View details
    Well-Kept Duplex in Lead
    $299,996
    1,984 SF

    Well-Kept Duplex in Lead

    Duplex with off-street parking and garage near downtown.

    116 Grand Avenue, Lead, SD 57754
    View details
    Established Restaurant with Living Quarters
    $1,400,000
    4,225 SF

    Established Restaurant with Living Quarters

    Profitable restaurant with apartment in high-traffic tourist area.

    541 MT RUSHMORE RD, Custer, SD 57730
    View details

    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 Development Opportunity in Buffalo
    $407,000
    5.77 Acres

    Residential Development Opportunity in Buffalo

    5.77 acres for residential development with city utilities available.

    TBD Glencoe Way, Buffalo, WY 82834
    View details
    Residential Land in Carpenter, WY
    $82,000
    6.00 Acres

    Residential Land in Carpenter, WY

    Corner lot with no covenants, manufactured housing allowed.

    TBD Road 201, Carpenter, WY 82054
    View details
    Commercial Land with RV Park
    $435,000
    3.88 Acres

    Commercial Land with RV Park

    Mobile home and RV park with expansion potential in Glendive.

    1003 W Bell St, Glendive, MT 59330
    View details
    Residential Subdivision Land Opportunity
    $50,000

    Residential Subdivision Land Opportunity

    49-lot subdivision suitable for various residential development projects.

    1 Rainbow Estates, Glendive, MT 59330
    View details

    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.

    Marlin Dr
    Multifamily properties
    Lot: 3.11 Acres
    Value Estimation by Request
    Marlin Dr

    0 Marlin Dr, Rapid City, SD 57703

    View details
    2006 Promise Rd
    HIGH-RISE APARTMENTS
    23,278 SF Lot: 9.23 Acres
    Estimated value
    $1,820,000

    2006 Promise Rd, Rapid City, SD 57701

    View details
    330 Philadelphia St
    HIGH-RISE APARTMENTS
    7,556 SF Lot: 2.71 Acres
    Estimated value
    $580,000

    330 Philadelphia St, Rapid City, SD 57701-1810

    View details
    1617 Debra Dr
    HIGH-RISE APARTMENTS
    12,702 SF Lot: 2.31 Acres
    Estimated value
    $995,000

    1617 Debra Dr, Rapid City, SD 57702-1007

    View details
    636 Cathedral Dr
    HIGH-RISE APARTMENTS
    9,678 SF Lot: 3.10 Acres
    Estimated value
    $760,000

    636 Cathedral Dr, Rapid City, SD 57701-5438

    View details
    1018 11th St
    HIGH-RISE APARTMENTS
    6,868 SF Lot: 0.72 Acres
    Estimated value
    $600,000

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

    View details

    Rapid City, SD Multifamily Properties Investment Opportunities Market Analysis

    Explore 15 multifamily properties for sale in Rapid City, SD, showcased through 9 active listings on our real estate platform. These investment opportunities span a total of 14,471 square feet of properties for sale, with an estimated market value of $2,934,400.

    Sale prices for multifamily properties in Rapid City, SD start at $285,000, averaging $733,600, and reaching up to $1,099,900 — 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

    Apartment buildings 5
    Duplexes 4
    Mobile home & RV parks 1

    Property Size Breakdown

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

    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 median listing prices of real estate assets

    Neighborhood Average Price
    57702 $376.7K
    57701 $708.4K

    Taxes & Financing

    Tax Rate (average for all types) 1.36%
    Property Tax per SF $31.57 per sq ft
    Tax Rate vs County Average 0.02 pp below county avg
    Average Loan-to-Value 65.0%

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