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1948 Hillsview Dr, 
Rapid City, SD 57702

$531,977


—

Bed


—

Bath


-

Sq Ft


Multi-Family

Active

Listed by

Lisa Mueller

605-343-2700

Last updated:

October 7, 2026, 03:21 PM

MLS#

179920

Source:

SD BHMLS

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About This Home

1948 Hillsview Dr

This 5-plex is being offered at $106,395 per unit—this well-maintained 5-unit multi-family property currently generates $49,380 in annual rental income and offers immediate income with long-term potential. With a proven 16-year track record of stable occupancy, the property has demonstrated consistent rental performance. Current average rent is approximately $823 per unit/month, with rental rates believed to be below market, creating an opportunity for future income growth. Situated on approximately 0.9 acres near Canyon Lake Park, schools, shopping and restaurants, the property also includes a 28' x 15' garage, providing valuable additional storage. Improvements within the past five years include updates to roof, siding, windows, doors and electrical systems. Whether expanding an existing portfolio or seeking an established income-producing property, 1948 Hillsview offers an attractive combination of rental history, location, price per unit and potential upside.

Home Facts

Multi-Family

Built in 1949

Subdivision & Development:

SHERMAN

Price Summary

531,977

MLS #:

179920

Last Updated:

October 7, 2026, 03:21 PM

Added:

3 month(s) ago


Structure

Structure

Year Built:

1949


Finances & Disclosures

Finances

Price:

$531,977

1948 Hillsview Dr
Source:SD BHMLS
The information being provided by Black Hills Board Of REALTORS® Mls is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2026 Black Hills Board Of REALTORS® Mls All rights reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.