Now is the perfect time to invest in Rapid City as it continues to grow and expand! This well-maintained 12-unit complex (six duplexes) offers a fantastic opportunity for investors. Each 2-bedroom, 1-bathroom unit includes a stove, refrigerator, window air conditioner, gas water heater, and forced air heating, along with washer/dryer hookups for added convenience. Some units have been upgraded with LVT flooring in the living room and kitchen. Additional features include alley access and off-street parking. Tenants pay their own gas and electric utilities. Each duplex sits on a separately plotted lot with its own legal description, providing the flexibility to sell them individually or as a complete package. Don’t miss out on this incredible investment opportunity!
For sale
$1,625,000
123 E Nowlin St, Rapid City, SD 57701
--beds
--baths
--sqft
Est.:
Multiplex
Built in 1963
-- sqft lot
$1,521,900 Zestimate®
$--/sqft
$-- HOA
What's special
Alley accessOff-street parkingGas water heaterLvt flooringWindow air conditioner
- 24 days
- on Zillow |
- 135 |
- 2 |
Zillow last checked: 7 hours ago
Listing updated: April 01, 2025 at 07:12pm
Listed by:
NICOLE PETRIK 605-939-6299,
ENGEL & VOELKERS BLACK HILLS, LLC
Source: Black Hills AOR,MLS#: 173023

Travel times
Tour with a buyer’s agent
Tour with a buyer’s agent
Facts & features
Interior
Heating
- Forced Air, Natural Gas
Cooling
- Electric, Window Unit(s)
Appliances
- Included: Range/Oven, Refrigerator
Features
- Hookups
- Windows: Window Coverings
Property
Parking
- Parking features: See Remarks
Features
- Levels: One
- Entry location: Community Entrance
- Has view: Yes
- View description: City
Lot
- Size: 0.89 Acres
- Features: Level
Details
- Zoning description: Conforming
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multiplex
Materials
- Wood Siding
- Foundation: Slab
- Roof: Other
Condition
- Year built: 1963
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Separate Meters
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: Nowlin & Wood
Location
- Region: Rapid City
Financial & listing details
- Date on market: 4/2/2025
- Listing terms: Cash,New Loan
- Lease term: 12 Months
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