1305 5Th StMilbank, SD 57252

Property Details for 1305 5Th St

Year built

1949

Lot size

1.78 AC

Property size (Sq ft)

43,196 SF

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity presents a rare chance to acquire a substantial property in Milbank, South Dakota. Located at 1305 S 5th Street, this 43,196 square foot building sits on a generous 1.78-acre lot, offering significant potential for expansion and increased rental income. The property boasts nine units, including a 2,200 square foot three-bedroom, two-bathroom apartment, a 1,800 square foot two-bedroom, two-bathroom apartment, and an 800 square foot studio apartment. Currently, six businesses also lease space within the building. Additional amenities include a 7,200 square foot gymnasium, a 1,290 square foot conference room with access to a fenced yard, two garage storage areas, and a loading dock. Recent renovations have included upgrades to the HVAC system, LED lighting, and windows. The property's prime location on Highway 12 provides excellent visibility and accessibility. The building was constructed in 1949 and has undergone recent renovations. Pre-approval is required for property viewings. This is a value-add investment with significant upside potential due to its size, location, and existing infrastructure. The asking price is $995,000, representing a price per square foot of $7.50. This property is a unique opportunity for investors seeking a substantial multifamily asset with considerable growth potential in a desirable location.

Location Insight

City

Milbank

County

Grant

State

South Dakota

Latitude

45.2079

Longitude

-96.6316

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