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Enchanted Pines 4815 5th St 165 Unit Apartment Building $36,750,000 ($222,727/Unit) 5.81% Cap Rate Rapid City, SD 57701
INVESTMENT HIGHLIGHTS
- 165 Units
- LOCATION, LOCATION, LOCATION
- High Occupancy
EXECUTIVE SUMMARY
165 Units, 72 garage spaces, 6.7 Acres
DATA ROOM Click Here to Access
- Miscellaneous
PROPERTY FACTS
| Price | $36,750,000 | Building Class | B |
| Price Per Unit | $222,727 | Lot Size | 6.70 AC |
| Sale Type | Investment | Building Size | 150,000 SF |
| Cap Rate | 5.81% | Average Occupancy | 46% |
| Sale Condition | 1031 Exchange | No. Stories | 3 |
| No. Units | 165 | Year Built | 2023 |
| Property Type | Multifamily | Parking Ratio | 0.48/1,000 SF |
| Property Subtype | Apartment | Cross Streets | Enchanted |
| Apartment Style | Low-Rise | ||
| Zoning | Office Commercial - Office Commercial | ||
| Price | $36,750,000 |
| Price Per Unit | $222,727 |
| Sale Type | Investment |
| Cap Rate | 5.81% |
| Sale Condition | 1031 Exchange |
| No. Units | 165 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 6.70 AC |
| Building Size | 150,000 SF |
| Average Occupancy | 46% |
| No. Stories | 3 |
| Year Built | 2023 |
| Parking Ratio | 0.48/1,000 SF |
| Cross Streets | Enchanted |
| Zoning | Office Commercial - Office Commercial |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Refrigerator
- Stainless Steel Appliances
- Range
- Carpet
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Maintenance on site
- Online Services
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 55 | - | 558 |
| 1+1 | 58 | - | 744 - 774 |
| 2+2 | 52 | - | 1,013 |
PROPERTY TAXES
| Parcel Number | 0060929 | Improvements Assessment | $18,936,100 |
| Land Assessment | $1,311,200 | Total Assessment | $20,247,300 |
PROPERTY TAXES
Parcel Number
0060929
Land Assessment
$1,311,200
Improvements Assessment
$18,936,100
Total Assessment
$20,247,300
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Enchanted Pines | 4815 5th St
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