For Sale
$100,000

605 Main AveLemmon, SD 57638

Five-unit apartment building, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a five-unit apartment building located at 605 Main Ave, Lemmon, South Dakota, 57638. The property, built in 1930, boasts a total of 2,688 square feet situated on a generous 1.72-acre lot (75,140 square feet). The two-story building comprises five units: four one-bedroom apartments (three currently rented), one unfinished two-bedroom garden apartment, and one unfinished one-bedroom main floor apartment. Renovation of the unfinished units presents a significant value-add opportunity. The property features a full poured basement and coal heating. The total number of bedrooms across all units is six, and there are five full bathrooms. This multifamily property offers a compelling investment prospect with the potential for substantial returns. The existing rental income, combined with the potential for increased revenue from the completion of the unfinished units, makes this a strong contender for investors seeking a hands-on project with high return potential. The property's location in Lemmon, Perkins County, South Dakota provides a stable market for rental properties. This is a rare chance to acquire a well-located, multi-unit building with significant upside. Asking price is $100,000.

Highlights

  • Six bedrooms
  • Five full bathrooms
  • Full poured basement
  • Coal heating
  • 1.72-acre lot (75,140 sq ft)

Property Details for 605 Main Ave

Property type
Apartment buildings
Square Feet
2,688 SF
Year Built
1930
Stories
2
Lot Size (sq. ft)
74,923 SF
Units
5

Location Insight

City
Lemmon
County
Perkins
State
South Dakota
Latitude
45.9385305
Longitude
-102.1598155
605 Main Ave, Lemmon, South Dakota

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605 Main Ave
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