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1920 Monte Vista Dr - Monte Vista Apartments 16 Unit Apartment Building Offered at $1,925,000 at a 6.86% Cap Rate Rapid City, SD 57702
Investment Highlights
- Location
- Parking Lot
- 16 units
Executive Summary
Exceptional investment opportunity in Rapid City! This 16-unit multifamily property located at 1920 & 1930 Monte Vista Drive features all 2-bedroom, 2-bath units, each offering a functional layout with private patio or deck space. The property shows strong, consistent rental performance with average rents of $1,300 per unit, providing immediate cash flow with additional upside potential through future rent adjustments. Units are highly desirable due to their size, layout, and outdoor living space—appealing to long-term tenants and helping maintain occupancy. Situated in a convenient location with easy access to shopping, dining, and major corridors, this asset offers both stability and growth potential for investors looking to expand their portfolio in the Rapid City market. Opportunities like this—well-performing, multi-unit properties with solid unit mix and income—are hard to find. Don’t miss your chance to own a proven income-producing asset!
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,925,000 | Property Type | Multifamily |
| Price Per Unit | $120,313 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Lot Size | 0.81 AC |
| Cap Rate | 6.86% | Building Size | 18,060 SF |
| Sale Condition | Bulk/Portfolio Sale | No. Stories | 2 |
| No. Units | 16 | Year Built | 2003 |
| Zoning | MDR - MDR | ||
| Price | $1,925,000 |
| Price Per Unit | $120,313 |
| Sale Type | Investment |
| Cap Rate | 6.86% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 16 |
| Property Type | Multifamily |
| Apartment Style | Mid-Rise |
| Lot Size | 0.81 AC |
| Building Size | 18,060 SF |
| No. Stories | 2 |
| Year Built | 2003 |
| Zoning | MDR - MDR |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 16 | - | - |
1 1
Fairly walkable
40/100
Very drivable
80/100
Moderately bikeable
60/100
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1920 Monte Vista Dr - Monte Vista Apartments
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