Address
3313 Leland Lane, Rapid City, SD
Price
$ 1,649,000
Property Attributes
- MLS#89161
- TypeMulti-Family
- Listing Status Active
- CountyPENNINGTON
- CityRapid City
- AreaRapid City Southwest
- Zip57702
- Style
- Year Built1979
- Price$ 1,649,000
- Bedrooms27
- Full Bathrooms27
- Half Bathrooms0
- Lot Size1.8 Acres
Data Source:
Mount Rushmore Area Association of REALTORS® (MRAORMLS)
Property Description
Listed by TJ Wojtanowicz at Black Hills Realty | 605-863-1920. Outstanding investment opportunity in West Rapid City! This 27-unit apartment complex offers an excellent mix of units including 24 studio apartments, one 2-bedroom/1-bath unit, one 1-bedroom/1-bath unit, and one efficiency unit. The property also features an on-site laundry facility with washers and dryers, six rentable garages providing additional income, plus one dedicated management garage. Tenants pay their own electricity while ownership pays water, sewer, boiler heat, and other common area expenses, creating a straightforward management structure with strong upside potential. Located in a desirable west side neighborhood near Canyon Lake, shopping, restaurants, medical facilities, schools, and major employers, the property benefits from a highly sought-after rental location with convenient access throughout Rapid City. Current ownership has maintained strong occupancy, and there is significant opportunity to increase rental income through future rent adjustments, operational efficiencies, and continued property improvements. This is an excellent value-add opportunity for investors seeking stable cash flow with long-term appreciation potential in one of Rapid City's strongest rental markets. Whether you are expanding your portfolio or completing a 1031 Exchange, this well-located multifamily investment offers immediate income, additional garage revenue, and substantial upside. Financial information available
| Price History | |
|---|---|
| 6/19/2026 | Listed $1,750,000 |
| 8/12/2026 | 6$1,649,000 |
General Features
| Heating | Natural Gas,Hot Water,Radiant Ceiling |
|---|---|
| Cooling | Refrig. C/Air |
| Roof | Composition |
| Construction | Frame |
| Status | Active |
| Year Built | 1979 |
| Parking | Paved,Garage |
| Subdivision | None |
| Systems | Breaker,220V Service |
| Style | 1 Story |
| Class | MULTI-FAMILY |
| Type | Other |
| Rent Income | 240445 |
| Miscellaneous | Separate Meters,Master Meters,Central Water Heater,Multi-Unit Heat & Air |
| Status | UC-CONTINGENCY-TAKE BKUPS |
| Sale/Rent | For Sale |
| Status Detail | 1 |
| Auction Y/N | No |
| Pets Allowed (Y/N) | Yes |
| Docs on File | Financials,Leases |
| Covenants | No |
| Short Sale | No |
| Area | Rapid City Southwest |
| Directions | Rapid City |
| City | Rapid City |
| School District | Rapid City |
| Terms | Cash,New Loan |
| Agent First Name | TJ |
| Agent Last Name | Wojtanowicz |
| Listing Agent | 1109 |
Interior Features
| Basement | Crawl Space,Block Foundation |
|---|---|
| # of Units | 27 |
| Unit 1 Bedrooms | 1 |
| Unit 2 Bedrooms | 2 |
| Unit 1 Rent | 845 |
Exterior Features
| Exterior | Paved Street |
|---|---|
| Lot Size Area | 1.8 |
| Siding | Wood Siding |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 57702
Price
Year Built
Visits
Black Hills Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Mount Rushmore Area Association of Realtors. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Black Hills SD Realty, LLC shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
