Current Use by Public Records
- Apartment buildings
Property Details for 1305 5Th St
- Year built
- 1949
- Lot size
- 1.78 lot acres
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents a rare chance to acquire a substantial property in Milbank, South Dakota. Located at 1305 S 5th Street, this 43,196 square foot building sits on a generous 1.78-acre lot, offering significant potential for expansion and increased rental income. The property boasts nine units, including a 2,200 square foot three-bedroom, two-bathroom apartment, a 1,800 square foot two-bedroom, two-bathroom apartment, and an 800 square foot studio apartment. Currently, six businesses also lease space within the building. Additional amenities include a 7,200 square foot gymnasium, a 1,290 square foot conference room with access to a fenced yard, two garage storage areas, and a loading dock. Recent renovations have included upgrades to the HVAC system, LED lighting, and windows. The property's prime location on Highway 12 provides excellent visibility and accessibility. The building was constructed in 1949 and has undergone recent renovations. Pre-approval is required for property viewings. This is a value-add investment with significant upside potential due to its size, location, and existing infrastructure. The asking price is $995,000, representing a price per square foot of $7.50. This property is a unique opportunity for investors seeking a substantial multifamily asset with considerable growth potential in a desirable location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Milbank
- County
- Grant
- State
- South Dakota
- Longitude
- -96.6316
- Latitude
- 45.2079
