Back to Previous Page 705 Hickory Street
Gateway Apartments
$1,250,000
Bldg 24,222 SF | Land 1.53 Acre | 1 Story
Property Information
Listing #75407
List Price $1,250,000
Bldg SF 24,222
Bldg $/SF $52
Year Built 1980
County Jackson
Acres 1.53
Property Overview
Affordable senior housing facility with 30 units, professional management, on-site facility manager and maintenance staff in place. Located just off Main Street in Downtown Kadoka.
HAP contract. Recent $23K investment in building renovations. New roof/fascia/gutters/downspouts in 2022 ($150K). Average monthly rent is $831 and is adjusted annually. Significant upside opportunity with improved operations now that renovations are complete. Limited competition in the market.
Listed by Chris Long, 605-335-8100, and Dan Logan, 605-593-7980, Keller Williams Realty Black Hills, KW Commercial.
Highlights
- Professionally managed by RAM Housing
- Common room cafeteria leased to Feeding South Dakota and available for resident use
- No HUD financing, limited oversight
- Current REAC score 90+ with inspection and repairs completed in 2022
- Recent $23K investment in building renovation/repair
- New roof/fascia/gutters/downspouts in 2022 ($150K)
- Two coin operated shared laundry facilities
- Owner paid utilities (All electric)
- Financials available with signed NDA
Listing Agents
Commercial Broker
Broker Associate
