545 Lincoln, Custer, SD 57730

An opportunity to own one of Custer’s established multifamily properties. Valley Hi Apartments offers 28 units, 14 studios at approx. 403sf and 14 one-bedrooms at approx. 528sf, in a walkable location close to downtown Custer and services. Built in 1972, the two-story, wood-framed, slab-on-grade buildings total approximately 17,480 square feet on 0.7 acre and feature low-maintenance metal siding. The property includes an on-site leasing office, two laundry rooms with owner-owned, coin-operated machines, and 26 on-site parking spaces, including 6 accessible spaces. Heat is hydronic hot water from two propane-fueled boilers in the first-floor mechanical room, served by a 1,000-gallon propane tank, with a common 108-gallon hot water system and a water softener. The property recently transitioned out of the HUD program, so the new owner is free to set rents and manage tenancy without HUD contract restrictions. Current all-inclusive rents are $889 for studios & $983 for one-bedrooms, with...