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FOOTHILLS APARTMENTS, Spearfish, SD 57783

$2,200,000
Commercial Property MLS# FOOTHILLS APARTMENTS ID: 45224602
$2,200,000 Get Rates

Foothills Apartments
Foothills Apartments This apartment complex is located in Spearfish, SD. Three different buildings on the property comprise 28 living units total. Location: Found in the heart of the Green Acres Residential Subdivision on the Southwest part of Spearfish, SD, the physical address to Foothills Apartments is 820 S 34th Street. This is a quiet neighborhood consisting of; many town houses; other apartment buildings, and a Long-term care complex. The Calvary Baptist Elementary School is also just down the street! The property is conveniently accessed by 34th St., a short distance off East Colorado Boulevard, which serves as the I-90 Frontage Rd. providing easy access to services such as hotels, convenience stores, auto dealerships, restaurants, and light industrial commercial businesses. Property Details: There are 28 total living units in the Foothills Apartments. The complex is comprised of three individual buildings situated on 1.99 acres. The buildings were constructed in 1994, 2003 and 2004. The 1994 building has 8 total units, breaking down as follows; (1)-3 Bedroom, 2 Bath. (2)-3 Bedroom, 1 Bath. And (5)-2 Bedroom, 1 Bath. Both the 03 and 04 buildings have 10 units each and break down as follows; (8)-2 Bedroom, 1 Bath. (2)-1 Bedroom, 1 Bath. There is an onsite laundry available providing an additional source of revenue! There is also a lawn mower/storage shed on the property that will be included in the sale. Taxes: The 2016 real estate taxes were $23,136.80 Special Assessment - $40.00 Price: The Foothills Apartments Complex is priced in its entirety at $2,200,000. Cap rate- 7.9% (historically; rate not guaranteed). Financial information available upon request. Confidentiality agreement required. The Seller intends to utilize the provisions of an IRC 1031 tax deferred exchange and will require the Buyers cooperation in so doing. No additional cost or delays shall be incurred by the Buyer.

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Property Features for FOOTHILLS APARTMENTS
Status
Last Updated
November 6, 2017
Description
Property Type
Commercial Property
Approx. Lot Size
1.99 Acres

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More information about this $2,200,000 Commercial Property at FOOTHILLS APARTMENTS

This $2,200,000 Commercial Property at FOOTHILLS APARTMENTS in Spearfish, SD is offered by JD Hewitt. This $2,200,000 Commercial Property is located in the 57783 zip code. This FOOTHILLS APARTMENTS Commercial Property, located in Lawrence County , is listed under MLS listing number FOOTHILLS APARTMENTS and has a listing price of $2,200,000. You can find more of JD Hewitt's listings by browsing JD Hewitt homes for sale at HomesAndLand.com, or even more SPEARFISH homes for sale here.