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Aspen Park 426 & 434 E Fairmont Blvd 81 Unit Apartment Building $9,487,360 CAD ($117,128 CAD/Unit) 6.70% Cap Rate Rapid City, SD 57701
INVESTMENT HIGHLIGHTS
- Conveniently located in SE Rapid City just down the street from Monument Hospital
- Robbinsdale Park complex is directly to the East of this property offering tenants numerous recreation opportunities
- Located between two major thoroughfares Highway 16 and Highway 79
EXECUTIVE SUMMARY
81 unit apartment complex with a mixture of studio (24), 1 bed (27), 2 bed (24), 3 bed apartments (6), and 12 garages. Conveniently located in SE Rapid City just down the street from Monument Hospital and between two major thoroughfares HWY 16 and HWY 79. Robbinsdale Park complex is directly to the East of this property offering tenants numerous recreation opportunities as well. The property is well kept and has a low vacancy rate making this a great opportunity add a great multifamily complex to your portfolio in the fast growing Rapid City market.
PROPERTY FACTS
| Price | $9,487,360 CAD | Apartment Style | Garden |
| Price Per Unit | $117,128 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.78 AC |
| Cap Rate | 6.70% | Building Size | 110,535 SF |
| No. Units | 81 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1977 |
| Price | $9,487,360 CAD |
| Price Per Unit | $117,128 CAD |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| No. Units | 81 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.78 AC |
| Building Size | 110,535 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1977 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Oven
- Tub/Shower
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Smoke Free
- Online Services
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 24 | - | 250 - 375 |
| 1+1 | 27 | - | 500 - 600 |
| 2+1 | 24 | - | 650 - 750 |
| 3+2 | 6 | - | 950 - 1,000 |
PROPERTY TAXES
| Parcel Number | 0036802 | Improvements Assessment | $3,964,141 CAD |
| Land Assessment | $391,337 CAD | Total Assessment | $4,355,478 CAD |
PROPERTY TAXES
Parcel Number
0036802
Land Assessment
$391,337 CAD
Improvements Assessment
$3,964,141 CAD
Total Assessment
$4,355,478 CAD
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Aspen Park | 426 & 434 E Fairmont Blvd
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