Login

748 Main, Sturgis, SD 57785

Sturgis
Local realty services provided by:CENTURY 21 ClearView Realty
748 Main,Sturgis, SD 57785
$1,799,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: dan logan, christopher long
Office: keller williams realty black hills
MLS#:181232
Source:SD_BHMLS

Price summary

  • Price:$1,799,000

About this home

32-UNIT MULTIFAMILY INVESTMENT | PROJECT-BASED SECTION 8 | 7.0% CAP RATE Key City Manor Apartments is a 32-unit multifamily investment property near downtown Sturgis. The property operates under a project-based Section 8 HAP contract extending through July 31, 2034, providing an established rental assistance structure and documented operating history. The current offering reflects a 7.0% cap rate based on T-12 NOI of $126,648, with a projected 7.4% cap rate following the August 2026 contract rent increase. The property includes 16 one-bedroom units and 16 efficiency units across two connected brick buildings, with an average occupancy of 94%. Current contract rents are $814 for one-bedroom units and $719 for efficiency units; utilities are owner-paid. Shared amenities include common space, coin-operated laundry, and 30 surface parking spaces. Situated on 1.16 acres, the 22,706 SF property was built in 1970 and had the roof replaced in 2022. Financial information is available...

Contact an agent

contact an agent

Yes, I would like more information. Please use and/or share my information with an independent agent affiliated with the CENTURY 21®  brand to contact me about my real estate needs. By clicking Send message, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If an independent agent affiliated with the CENTURY 21®  brand is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE® , Coldwell Banker® , Corcoran® , ERA® , Sotheby's International Realty® ). I acknowledge that I have read and agree to theTerms of useandPrivacy notice

Home facts

  • Year built:1970
  • Subdivision & Development:MCMILLIANS EAST
  • Listing ID #:181232
  • Added:7 day(s) ago
  • Updated:October 07, 2026 at 03:21 PM

Heating and cooling

  • Cooling:Window
  • Heating:Baseboard

Structure and exterior

  • Year built:1970

Finances and disclosures

  • Price:$1,799,000

New listings near 748 Main