3313 LELAND LN, Rapid City, SD 57702
CONWAY · Pennington County
Key Facts
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 to qualified buyers upon execution of a confidentiality agreement. Call today for additional information or to schedule your private tour.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Year Built
1979
Zoning
Conforming
MLS® Listing#
179607
Property Features
Cooling
Basement
Lot Features
Construction
Foundation
Roof
Security
Sewer
Water Source
Affordability Calculator
$350,000
Estimated monthly payment
$9,314/mo
Principal $1,400,000 · Est. interest $1,953,125 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Rapid City, SD
- $408,642
- Median Listing Price
- 48
- Median Days on Market
- 1,888
- Median Sq Ft
- $232
- Median Price / Sq Ft
- 620
- Active Listings
- This home’s price is 328% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Rapid City, SD.
Location
Getting Around
Points of Interest in Rapid City, SD
Showing the Rapid City area map.
Nearby Schools
Canyon Lake Elementary School
Elementary · 0.1 mi away
Rural America Initiatives
School · 0.4 mi away
West Middle School
Secondary · 0.5 mi away
Meadowbrook Elementary School
Elementary · 0.5 mi away
Stevens High School
Secondary · 0.9 mi away
South Canyon Elementary School
Elementary · 1.1 mi away
Rapid City Sda Elementary School
Elementary · 1.3 mi away
Pinedale Elementary School
Elementary · 1.7 mi away
South West Middle School
Secondary · 2.0 mi away
Corral Drive Elementary School
Elementary · 2.0 mi away
Woodrow Wilson Elementary - 17
Elementary · 2.1 mi away
Dakota Middle School
School · 2.4 mi away
Rapid City High School
Secondary · 2.4 mi away
St Elizabeth Seton School
School · 2.5 mi away
Calvary Christian School
School · 2.6 mi away
Zion Lutheran School
School · 2.6 mi away
Central High School
Secondary · 2.6 mi away
Rapid City Area Schools
School · 2.6 mi away
St Thomas More High School
Secondary · 2.7 mi away
South Park Elementary School
Elementary · 2.7 mi away
Commute Calculator
Moving Cost Estimate
EXIT Agents in Rapid City
Listing Courtesy: BLACK HILLS REALTY - 6057912249
Presented by: TJ WOJTANOWICZ