701 Dakota Dr Rapid City, SD 57702
West Rapid City NeighborhoodEstimated payment $28,490/month
Highlights
- Public Water Access
- Balcony
- Home Security System
- City View
- Cooling Available
- 2-minute walk to Sioux Park
About This Home
Unbeatable location in the heart of west side Rapid City, adjacent to Sioux Park and the bike path - just minutes from schools, shopping, downtown, and countless dining options. This 48-unit apartment complex includes 44 two-bedroom units, 4 one-bedroom units, and 48 on-site storage units. 2nd and 3rd floor units have large balconies to enjoy the beautiful park setting. Tenants enjoy convenience and location, while owners benefit from thoughtful maintenance and improvements over the years, including durable siding, new roofs, custom exterior doors, lighting, water heaters, resurfaced parking lot, security system, concrete work (in progress), among many other updates. With its prime location and strong rental appeal, this complex is a rare opportunity to buy in the heart of Rapid City. Coin operated laundry in each building.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $66,420
Year Built
- Built in 1972
Parking
- Paved Parking
Property Views
- City
- Trees
- Creek or Stream
Home Design
- Poured Concrete
- Composition Roof
- Hardboard
Home Security
- Home Security System
- Fire and Smoke Detector
Outdoor Features
- Public Water Access
- Balcony
Lot Details
- Private Entrance
Utilities
- Cooling Available
- Baseboard Heating
- Hot Water Heating System
- Public Septic
Community Details
- 48 Units
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $71,082 | $5,317,800 | $437,700 | $4,880,100 |
| 2024 | $66,814 | $4,884,100 | $437,700 | $4,446,400 |
| 2023 | $62,777 | $4,432,900 | $437,700 | $3,995,200 |
| 2022 | $56,162 | $3,698,900 | $437,700 | $3,261,200 |
| 2021 | $55,953 | $3,360,700 | $437,700 | $2,923,000 |
| 2020 | $45,494 | $2,640,000 | $437,700 | $2,202,300 |
| 2019 | $36,637 | $2,160,000 | $437,700 | $1,722,300 |
| 2018 | $35,972 | $2,088,000 | $437,700 | $1,650,300 |
| 2017 | $35,399 | $2,073,600 | $437,700 | $1,635,900 |
| 2016 | $33,963 | $1,920,000 | $437,700 | $1,482,300 |
| 2015 | $33,963 | $1,778,700 | $437,700 | $1,341,000 |
| 2014 | $34,071 | $1,736,700 | $437,700 | $1,299,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/28/2026 04/28/26 | For Sale | $4,300,000 | 0.0% | -- | |
| 04/28/2026 04/28/26 | Off Market | $4,300,000 | -- | -- | |
| 03/27/2026 03/27/26 | Price Changed | $4,300,000 | -7.5% | -- | |
| 10/16/2025 10/16/25 | Price Changed | $4,650,000 | -4.1% | -- | |
| 09/27/2025 09/27/25 | Price Changed | $4,850,000 | -6.7% | -- | |
| 09/12/2025 09/12/25 | For Sale | $5,200,000 | +37.6% | -- | |
| 06/30/2020 06/30/20 | Sold | $3,780,000 | -0.5% | -- | View Prior Sale |
| 05/06/2020 05/06/20 | For Sale | $3,800,000 | -- | -- |
Source: Black Hills Association of REALTORS®
MLS Number: 175668
APN: 37-03-204-025
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