10 E Quincy St Rapid City, SD 57701

4,953 SF

Property ID

US79-0525733

$899,000 4,953 SF

10 E Quincy St, Rapid City, SD 57701
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10 E Quincy Street | Rapid City, SD | 8-Unit Multifamily Rarely does a value-add multifamily opportunity present itself this cleanly. Located in Rapid City's Midtown corridor, minutes from the South Dakota School of Mines and Technology and downtown Rapid City, this 8-unit income property is being offered with three intentionally vacant units, giving the incoming investor an immediate and executable path to full stabilization with no capital improvement required. The building features a proven unit mix of two studios, five two-bedrooms, and one three-bedroom, currently generating $67,200 in annual gross income from five occupied units. At full stabilization, gross income reaches $100,200 annually. A below-market three-bedroom lease renewing August 2026 adds a third layer of upside, bringing total identifiable revenue growth to approximately $33,000 per year. Rapid City's multifamily market remains one of the most resilient in Western South Dakota, supported by consistent renter demand from SDSM&T students and staff, Monument Health employees, downtown professionals, and a steady stream of Black Hills region in-migration. Vacancy across the Midtown submarket remains historically low, and new affordable and workforce housing supply continues to lag demand.