Back to Previous Page 705 Hickory Street

Gateway Apartments

$1,250,000

Bldg 24,222 SF | Land 1.53 Acre | 1 Story

01-705-hickory-st-exterior

02-705-hickory-st-exterior

03-705-hickory-st-exterior

04-705-hickory-st-exterior

05-705-hickory-st-interior

06-705-hickory-st-interior

07-705-hickory-st-interior

08-705-hickory-st-map

09-705-hickory-st-map

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

MESSAGE LISTING AGENT

Thank you for your request!
We'll get in touch with you soon.

Mark Ruddeforth

Mark Ruddeforth

5 stars

Chris, Hannah and the rest of the team are a pleasure to deal with. Highly recommend.

Google

Brian Boyer

Brian Boyer

5 stars

Chris Long does an excellent job with commercial listings. He knows the market in Rapid City and the Black Hills. He does his homework to value what a business is truly worth and what it should be listed for. His team at Keller Williams is also top notch. We highly recommend them for any commercial transactions, whether selling or buying.

Google

Dustin Coleman

Dustin Coleman

5 stars

Chris and the entire team were great. We looked all over the country for a place to expand our business. They worked with us for almost a year to find the right place. Because of their connections, we were able to find the building before it even hit the market. Throughout the entire process they kept me updated and informed which was helpful as I was not in the area. I cannot recommend them higher. Thank you for making this a smooth process.

Google

Previous

Next

Talk to an Expert

Thank you for your request!
We'll get in touch with you soon.

Hold Tight...