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$ 700,000
Est. payment /mo
Pending
101 Center Ave Philip, SD 57567
16,596 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 16,596 sqft
Price per Sqft $42
Subdivision Other - Outside Jurisdiction
MLS Listing ID 22508616
Year Built 1927
Property Sub-Type Other
Property Description
HUD Section 8 (HAP Contract) property for sale in Philip, SD! Parking lot included in sale. Unit Mix: Sixteen (16) one-bedroom/one-bathroom units. Three (3) commercial spaces. Owner Responsibility: Electric, water, sewer, trash removal, repairs/maintenance, and snow removal. Tenant Responsibility: Phone, cable, and internet. Unit Amenities: Stove, refrigerator, air conditioner, electric baseboard heat, and carpet/vinyl floor coverings. Property Amenities: Community room, main floor laundry room, elevator, onsite property management office, and off-street parking. Section 8 Coverage (# units / %): 16 units / 100%. Section 8 Contract #: SD99-H001-070. Renewal Option: Option 4. Term / Expiration: 20 Years / May 31, 2040. Elderly / Family: Elderly. Management Occupancy Review (MOR): Above-Average (July 2025). NSPIRE: 98 (February 2025). 100% Project-Based Section 8 rental subsidy. Three (3) Commercial Tenants: Daymond Lurz ($350/month), State Farm Insurance ($340/month), and Elizabeth Boardman ($300/month). The Senechal Apartments are being offered as part of a portfolio transaction and must be acquired together with the Riverview Townhouses, located at 302 E. Pine Street, Philip, SD 57567. Please contact the listing broker for additional details. Jeff Brooks is a licensed real estate broker in the State of South Dakota and part of the selling entity.
Location
State SD
County Other (out Of Jurisdiction)
Area Other
Interior
Heating Baseboard, Electric
Flooring Carpet
Exterior
Roof Type Other
Building
Sewer City Sewer
Water City Water
Schools
Elementary Schools Philip Es
Middle Schools Philip Jhs
High Schools Philip Hs
School District Haakon 27-1
Others
Miscellaneous Community Water Heater,Dead Bolt
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LIsted by Brooks Commercial Real Estate • Jeffrey Brooks