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$1,250,000
Est. payment /mo
18,048 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 18,048 sqft
Price per Sqft $69
Subdivision Other - Outside Jurisdiction
MLS Listing ID 22508614
Year Built 1978
Lot Size 1 Sqft
Property Sub-Type Other
Property Description
HUD Section 8 (HAP Contract) for sale in Hot Springs, SD! Unit Mix: Four (4) one-bedroom/one-bathroom units, twelve (12) two-bedroom/one-bathroom units; and four (4) three-bedroom/one-bathroom units. Owner responsibility: Water, sewer, trash removal, repairs/maintenance, lawn care, and snow removal. Tenant responsibility: Electric, phone, cable, and internet. Unit Amenities: Stove, refrigerator, air conditioning, electric baseboard/cove heat, carpet/vinyl floor coverings, and mini-blinds. Property Amenities: Off-street parking, two (2) laundry rooms, playground (new fence installed around playground (October 2025) / picnic area, on-site office (currently not being used), on-site maintenance room. Section 8 Coverage (# units / %): 20 units / 100%. Section 8 Contract #: SD99-H001-066. Renewal Option: Option 4. Term / Expiration: 20 Years / April 30, 2040. Elderly / Family: Family. Management Occupancy Review (MOR): Above-Average (July 2025). REAC: 97c (December 2022). 100% Project-Based Section 8 rental subsidy. The property is currently financed through a HOME Loan. There may be an opportunity for the purchaser to assume the existing HOME debt, subject to approval by the South Dakota Housing Development Authority (SDHDA). Jeff Brooks is a licensed real estate broker in the State of South Dakota and part of the selling entity.
Location
State SD
County Other (out Of Jurisdiction)
Area Other
Interior
Heating Baseboard, Electric
Flooring Carpet
Exterior
Roof Type Shingle Composition
Building
Sewer City Sewer
Water City Water
Schools
Elementary Schools Hot Springs Es
Middle Schools Hot Springs Ms
High Schools Hot Springs Hs
School District Hot Springs
Others
Miscellaneous Community Water Heater,Dead Bolt
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LIsted by Brooks Commercial Real Estate • Jeffrey Brooks
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