Listed by Jeremy Kahler, KWBH, 605-381-7500. Great opportunity to add to your investment portfolio- 23 unit apartment complex in Lead, SD with consistent rental history and great potential to expand! *Based on projections and current rent amounts, occupancy to be about 96% *Property is all on one level, with zero-entry access for easy accessibility, and complies with most ADA requirements *This one building facility has 14 studio apartments, 6- 1 bed/1 bath units and 3- 2 bed/1 bath units *Each apartment has a kitchen/kitchenette space, bathroom with walk in shower and separate heating/cooling units *On-site coin operated laundry room *Safety features include: secured entry, video surveillance and an internal sprinkler system *Common spaces include: rest rooms, communal seating areas (inside and out), rec rooms and storage areas *Front office space for onsite management *Manicured exterior with sprinkler maintained lawn and landscaping, outdoor seating areas and a walkway around the building *Flat private parking lot (1 space/unit) plus 6 assigned covered parking spaces *Great potential to expand- property has multiple storage spaces, public restrooms, a commercial kitchen, set up for an in-house barber shop, and space for potential unit expansion. Centrally located behind Lynns Dakota Mart grocery store. **Seller will consider doing owner financing**
For sale
Price cut: $100K (8/1)
$1,800,000
200 Montana Ave #776F18CCB, Lead, SD 57754
--beds
--baths
15,727sqft
Est.:
Multi Family
Built in 2002
-- sqft lot
$-- Zestimate®
$114/sqft
$-- HOA
What's special
Sprinkler maintained lawnFlat private parking lotAssigned covered parking spacesOutdoor seating areas
- 121 days
- on Zillow |
- 389 |
- 15 |
Zillow last checked: 7 hours ago
Listing updated: August 01, 2025 at 01:58pm
Listed by:
Jeremy Kahler,
Keller Williams Realty Black Hills SP
Source: Mount Rushmore Area AOR,MLS#: 83794

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Heating
- Electric, Cove
Cooling
- Wall Unit(s)
Appliances
- Included: Refrigerator, Electric Range Oven
Interior area
- Total structure area: 15,727
- Total interior livable area: 15,727 sqft
Property
Parking
- Parking features: Paved, Common, Covered
Features
- Levels: One
- Stories: 1
- Entry location: Community Entrance
Lot
- Size: 4.75 Acres
Details
- Additional structures: Outbuilding
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Foundation: Slab
Condition
- Year built: 2002
Utilities & green energy
- Electric: Breaker
Community & HOA
Community
- Security: Smoke Detector(s), Fire Sprinkler System, Security System
Location
- Region: Lead
Financial & listing details
- Price per square foot: $114/sqft
- Date on market: 4/7/2025
- Listing terms: Cash,New Loan
- Tenant pays: Rent Only
- Road surface type: Paved
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