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610 E North Street

Rapid City, SD 57701
  • $2,195,000
  • STATUS: Active
  • ON SITE: 61 Days
  • MLS #: 77190
UPDATED: 42 min ago
$2,195,000
  • 0
    BEDS
  • 1.37
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial

School Ratings & Info

Description

Great investment opportunity in the affordable rental market. Budget Inn currently operates as a weekly/monthly rental business with 38 total rental units. The main building consists of 26 fully furnished studio units on two levels with a full basement for laundry and storage of equipment/furniture. There are 11 stand alone cabins ranging in size from studio to 2 bedroom, most with kitchenette and dedicated parking. All rental units have fire sprinklers. The office building has the rental office on the main floor with a managers apartment on the upper level. Weekly rates range from $230-$250/unit, monthly rates range from $840-$880/unit. With reduced inventory in the north Rapid City rental market and the lack of affordable housing, the property runs near 100% occupancy at all times.

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© 2023 Mount Rushmore Area Association of REALTORS®., Inc. Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Dupont Real Estate Inc.. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Mount Rushmore Area Association of REALTORS® Multiple Listing Service. Real estate listings held by brokerage firms other than Dupont Real Estate Inc. are marked with the Broker Reciprocity™ logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Data last updated: 2023-09-25T07:44:45.91.
www.dupontrealestateteam.com/homes/141808879
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610 E North Street Rapid City, SD 57701

  • Price: $2,195,000
  • Status: Active
  • On Site: 61 Days
  • Updated: 42 min ago
  • MLS #: 77190
0
Beds
0
Baths
0
½ Baths
1.37
Acres
Neighborhood:
Rapid City -North
Area:
Rapid City -North
Property Description
Great investment opportunity in the affordable rental market. Budget Inn currently operates as a weekly/monthly rental business with 38 total rental units. The main building consists of 26 fully furnished studio units on two levels with a full basement for laundry and storage of equipment/furniture. There are 11 stand alone cabins ranging in size from studio to 2 bedroom, most with kitchenette and dedicated parking. All rental units have fire sprinklers. The office building has the rental office on the main floor with a managers apartment on the upper level. Weekly rates range from $230-$250/unit, monthly rates range from $840-$880/unit. With reduced inventory in the north Rapid City rental market and the lack of affordable housing, the property runs near 100% occupancy at all times.
Exterior Features

Construction Frame Parking Paved

Interior Features

Basement Substructure Full Basement Cooling Window Evap.Wall Evap. Heating Electric

Property Features

Auction YN No Commercial Property Type Business/Land/Building(S) Documents On File FinancialsProfit/Loss Statement Extras FurnishedHi-Traffic LocationManager On-Site For Sale Or Rent For Sale Number Of Employees 1 - 5 Occupant Long Term TenantShort Term Owner Finance YN Yes Possession Immediate Short Sale No Subdivision YN Yes Terms CashNew LoanOwner Carry Type Lot Building Site Utilities Sewer City (At Site)

[Mount Rushmore Area Association of Realtors] logoListing information © 2023 Mount Rushmore Area Association of REALTORS®., Inc
Listing provided courtesy of Christopher Long of Keller Williams Realty Black Hills Rc: 605-343-7500.



© 2023 Mount Rushmore Area Association of REALTORS®., Inc. Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Dupont Real Estate Inc.. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Mount Rushmore Area Association of REALTORS® Multiple Listing Service. Real estate listings held by brokerage firms other than Dupont Real Estate Inc. are marked with the Broker Reciprocity™ logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Data last updated: 2023-09-25T07:44:45.91.
 
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Dupont Real Estate Inc.
1201 Mt. Rushmore Rd.
Rapid City SD, 57701