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Hot Springs, SD 57747 505 N River Street

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Presented By: Heartland Real Estate
  • MLS# 81449
  • 08/20/2024
  • Request Tour
  • Request Info
  • Beds • 6
  • Baths • 6
  • SQFT • 6,320

Home Details

INVESTMENT OPPORTUNITY. With this acquisition, you will be able to step into an existing income producing property located in the downtown Historic District of Hot Springs, South Dakota. Built in 1910 and originally known as the Medical Block Building, the building offers 6320 sf of commercial space with three retail/office store front suites on the main level and an upper level with three vacation rental apartments. The building has recently undergone an update throughout offering modern amenities. The location of this property is within walking distance from many of local restaurants, waterfall, river front walking path and many of the local attractions. North River Street is in its final phase of a street road reconstruction project which includes a new road, new sidewalks, new street lighting, updating city infra structure and includes the installation of a new cantilevered walkway along Fall River which flows through downtown. Main level office spaces fully occupied and have steady business and the vacation rental business books regularly and booking calendar will transfer to the new owner. (See VRBO - this platform provides excellent additional information on the amenities of these vacation rentals). The nightly vacation rental business could easily convert into monthly or yearly apartment rentals if new owner so chose. For more information and to schedule a private tour please give ListingAgent, Cathy Mosset, Heartland Real Estate a call at t605-890-1066
Presented By: Heartland Real Estate

Interior Features for 505 N River Street

Bedrooms

Unit 1 Bedrooms1
Unit 2 Bedrooms2

Other Interior Features

Unit 1 RentVRBO
# of Units6
BasementPartial Basement, Unfinished

General for 505 N River Street

Agent First NameCathy
Agent Last NameMosset
AreaHot Springs
Auction Y/NNo
CityHot Springs
ClassMULTI-FAMILY
ConstructionFrame, Block
CoolingRefrig. C/Air, MiniSplit
CovenantsNo
DISCLOSURESOwner Licensed
DirectionsDowntown Hot Springs Business District on North River Street across from the Waterfall and Kidney Springs Gazebo
Docs on FileFinancials
HeatingElectric, Propane
Listing Agent938
ParkingPaved, Street Parking, Common
Pets Allowed (Y/N)Yes
RoofRubber
Sale/RentFor Sale
School DistrictHot Springs
Short SaleNo
StatusActive
StatusACTIVE
Status Detail0
Style2 Story
SystemsBreaker
TermsCash, New Loan
TypeOther
Year Built1910

Exterior for 505 N River Street

Lot Size Area0.16

Additional Details

Price History

Jerilyn Suridis

Broker Associate
Price $689,000
MLS#81449
List Date 08/20/2024
Property Type Multi-Family
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