Sturgis HUD home - ( beds, baths)

Here's your prime investment opportunity! Welcome to Key City Manor Apartments, located just blocks from downtown Sturgis. This property isa 32-unit HUD apartment building (with an HAP contract) featuring 16 one bedroom, one bathroom units and 16 efficiency, one bathroom units. Four sets of coin-op washer and dryers are located on the property, offering an additional income source, both an indoor and outdoor common area for tenants and ample off-street parking for each unit. This property has a record of a low vacancy rate of 93% and historic rent increases through HUD. Various capital improvements have been made in recent years including updated flooring and appliances in some units, new water heaters and boiler pumps, new exterior doors, one new coin-op washing machine, extensive concrete work in sidewalks and a new roof in 2022. Maintenance, management and vendors in place should a buyer choose to continue with the current operations team. Enjoy a 7% cap rate in this excellent investment! Call for more information today. Listed by Madison Reeves, Keller Williams Realty Black Hills - Spearfish (605) 569-9019This HUD home is located in Sturgis. It offers in size, beds and ba...

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ths. Review its detailed information and determine if this Sturgis HUD has the qualities you are looking for.  

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This is a HUD Home that the Government has foreclosed on because the owner couldn't meet their payments. This home is sold via an auction process whereby the highest bidder wins the home, typically at prices affordable for lower-income families.