605 Main AveLemmon, SD 57638

Property Details for 605 Main Ave

Year built

1932

Lot size

0.24 AC

Property size (Sq ft)

1,344 SF

Property type

Other commercial real estate

APN

01-0105-002-0002-000-0-0-00000

APU

9223372036854775807

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $367,553

  Hospitality

  $336,677

  Educational

  $280,111

  Medical

  $289,744

  Retail

  $435,728

Location Insight

City

Lemmon

County

Perkins

State

South Dakota

Latitude

45.9385

Longitude

-102.16

Property Tax & Assessments

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