REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Casey Carr
casey.carr@engelvoelkers.com$ 219,000
Est. payment /mo
Active
722 Silver St Rapid City, SD 57701
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 181152
Year Built 1946
Property Sub-Type Duplex
Property Description
This legal nonconforming up/down duplex with a walk-out basement has been recently updated with a new roof & hot water heater in 2025 & a new basement wall heater in 2024. Unit 1 upstairs features 2 bedrooms, 3 off-street parking spaces, and a fenced front & side yard. Unit 2 downstairs features 1 bedroom, lots of extra storage, 2 off-alley parking spaces, and a fenced back yard. There is no interior stairway connecting the two units, but the rent from unit 2 could offset a substantial portion of the mortgage for anyone wanting to live in unit 1. Unit 1 tenants are leaving by 9/30/26, but have paid $940/mo the past 2 years; unit 2 tenant (Section 8 subsidized) would like to stay with her 2 cats and currently pays $825/mo (including $60/mo in pet rent). Both units have laundry hookups, but tenants supply their own washer & dryer. Upstairs tenant owns the window AC units, but downstairs window AC unit conveys with purchase. Actual income & expenses for 2025 are listed, but current rents are below market rates to minimize vacancy. Seller is willing to consider concessions to the Buyer. Listing Agent is an officer of the LLC holding this property.
Location
State SD
County Pennington
Area Other
Zoning Non-conforming
Interior
Heating Forced Air, Natural Gas, Wall Furnace
Cooling None
Exterior
Roof Type Composition,Metal
Building
Foundation Full Basement, Concrete Block, Walkout
Sewer City (at site)
Water City (at site)
Listed by THE REAL ESTATE GROUP, INC.
NEARBY SCHOOLS & PROPERTIES
Casey Carr
Broker Associate
GET MORE INFORMATION