Custer Flats | 437 Montgomery St
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Custer Flats 437 Montgomery St
13 Unit Block of Flats £1,461,518 (£112,424/Unit) 6% Net Initial Yield Custer, SD 57730
Investment Highlights
- Fully renovated property in an excellent location near downtown Custer
Executive Summary
Prime investment opportunity with a fully renovated and fully leased 13 unit multi-family project in historic Custer, SD. Located in the beautiful Black Hills of South Dakota, just minutes from Custer State Park. Great long term investment in a town poised for continued growth with over $2.1 million visitors to Custer State Park in 2022. The property was fully renovated in 2022 with all new plumbing, electrical (separately metered), windows, roof, parking lot and brand new interiors. New owners will have minimal maintenance and enjoy high occupancy due to limited housing options in a high tourism market. The property is zoned Highway Commercial and units can be rented as overnight/AirBnb rentals to maximize occupancy.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,461,518 | Apartment Style | Low Rise |
| Price Per Unit | £112,424 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.57 AC |
| Net Initial Yield | 6% | Building Size | 9,304 SF |
| No. Units | 13 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 2022 |
| Property Subtype | Apartment |
| Price | £1,461,518 |
| Price Per Unit | £112,424 |
| Sale Type | Investment |
| Net Initial Yield | 6% |
| No. Units | 13 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 9,304 SF |
| Number of Floors | 2 |
| Year Built | 2022 |
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Jeremy Roemen - Veritas Capital & Asset Management
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Custer Flats | 437 Montgomery St
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