Investor's Dream Triplex in Rapid City! Welcome to your next real estate investment opportunity! This fantastic 2,944 sqft triplex in the heart of Rapid City boasts an upstairs unit with three bedrooms, one bathroom, and a one-car garage currently leased at $1,000 per month, which can be increased to around $1,700/month as soon as the lease term is up, making it an ideal steady income source. Two one-bedroom, one-bathroom units on the lower level rent for $900 each, providing additional rental income. Recent upgrades including a new roof, fresh paint, new flooring, and sheetrock keep maintenance costs low. With a convenient location, community laundry, the option for owner-occupancy upstairs, and a private yard, this property offers a versatile investment, ensuring long-term potential and the chance to enjoy comfortable living with rental income at your fingertips. Don't miss this fantastic investment opportunity in Rapid City! . . Listed by Jeffery Christians, Real Broker LLC, and co-listed by Beth Staeckeler, Real Broker LLC, 631-902-6095
Sold for $365,000
$365,000
1615 38th St, Rapid City, SD 57702
5beds
--baths
1,472sqft
Triplex
Built in 1958
-- sqft lot
$402,700 Zestimate®
$248/sqft
$1,457 Estimated rent
Home value
$402,700
$383,000 - $427,000
$1,457/mo
Zestimate® history
Owner options
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$1,457/mo
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$1,457/mo
Rent Zestimate®
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$1,850/mo
Est. payment
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$1,850/mo
Est. payment
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List your homeWhat's special
One-car garagePrivate yardNew roofNew flooringFresh paint
Zillow last checked:
Listing updated:
Listed by:
Jeffery R Christians,
Real Broker Spearfish,
Beth Staeckeler,
Real Broker Spearfish
Bought with:
NON MEMBER
NON-MEMBER OFFICE
Source: Mount Rushmore Area AOR,MLS#: 77999
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
Heating
- Electric, Baseboard
Cooling
- Window Evap.
Features
- Basement: Full
Interior area
- Total structure area: 1,472
- Total interior livable area: 1,472 sqft
Property
Parking
- Parking features: Garage
- Has garage: Yes
Features
- Entry location: Private Entrance
Lot
- Size: 8,712 Square Feet
Details
- Parcel number: 3704377006
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Frame
- Roof: Composition
Condition
- Year built: 1958
Utilities & green energy
- Electric: Breaker
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: Leisure Acres
Location
- Region: Rapid City
Financial & listing details
- Price per square foot: $248/sqft
- Tax assessed value: $336,300
- Annual tax amount: $4,316
- Date on market: 10/10/2023
- Listing terms: Cash,New Loan
Price history
| Date | Event | Price |
|---|---|---|
| 2/29/2024 | Sold | $365,000-7.6%$248/sqft |
Source:  Mount Rushmore Area AOR #77999 Report a problem | ||
| 1/25/2024 | Contingent | $394,900$268/sqft |
Source: Mount Rushmore Area AOR #77999 Report a problem | ||
| 12/1/2023 | Price change | $394,900-1.3%$268/sqft |
Source:  Black Hills AOR #165966 Report a problem | ||
| 10/10/2023 | Listed for sale | $399,900$272/sqft |
Source: Mount Rushmore Area AOR #77999 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,316 +2.3% | $336,300 +6% |
| 2024 | $4,220 -3.8% | $317,400 +5.8% |
| 2023 | $4,387 +14.7% | $299,900 +3.8% |
| 2022 | $3,824 | $288,900 +24.9% |
| 2021 | -- | $231,300 +11.8% |
| 2020 | $3,535 +2.3% | $206,900 +3.9% |
| 2019 | $3,455 0% | $199,100 +0.8% |
| 2018 | $3,456 +7.5% | $197,600 +4.8% |
| 2017 | $3,216 | $188,500 +1.6% |
| 2016 | $3,216 -9.2% | $185,600 -0.3% |
| 2015 | $3,540 | $186,200 +3.8% |
| 2014 | $3,540 | $179,400 +7% |
| 2012 | -- | $167,700 |
Find assessor info on the county website
Neighborhood: 57702
Nearby homes
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Nearby schools
GreatSchools rating
- 7/10South Canyon Elementary - 15Grades: K-5Distance: 0.9 mi
- 5/10West Middle School - 37Grades: 6-8Distance: 0.5 mi
- 5/10Stevens High School - 42Grades: 9-12Distance: 0.4 mi
Schools provided by the listing agent
- District: Rapid City
Source: Mount Rushmore Area AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- South Dakota
- Pennington County
- Rapid City
- 57702
- 1615 38th St
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