1601 Evanston Ave, Hot Springs, SD 57747

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.