230 Main St Spearfish, SD 57783

This exceptional investment property, located at 230 N MAIN in Spearfish, South Dakota, presents a rare opportunity to acquire a thriving multi-family complex. The property comprises four separate buildings situated on 0.64 acres of land, offering 8,685 square feet of finished space. Currently housing 31 units, the complex boasts a strong rental income stream, with monthly rates ranging from $625 to $850. At 100% occupancy, the gross monthly rental income potential reaches $22,375, translating to an annual potential of $268,500. Thirty of the units are studio apartments, while a larger 824-square-foot unit serves as a manager's suite and office, complete with one bedroom and one bathroom. A substantial laundry room generates additional income. The property benefits from a pet-friendly policy, a significant advantage in the Spearfish market, contributing to high occupancy rates. Utilities (electricity, gas, water, and sewer) are covered by the owner. The property's prominent location on Main Street, with over 200 feet of frontage, ensures excellent visibility and accessibility. With its substantial land area and prime location, this property offers significant potential for appreciation and diverse commercial uses. This is a turnkey investment opportunity with strong cash flow and significant upside potential.