516 N 3rd St Spearfish, SD 57783

Rare 4-Plex Investment in the Heart of Spearfish! Don't miss this exceptional opportunity to own a historically fully occupied 4-plex in one of Spearfish's most sought-after locations. Perfectly positioned just three blocks from the vibrant downtown business district and only one block from scenic Spearfish Park and the creek, this property offers a unique blend of convenience, charm, and long-term rental appeal. Units 1 & 2 each feature a spacious 2 bed / 1 bath layout with large windows that flood the interior with natural light. These units have been thoughtfully updated with brand-new flooring and fresh paint throughout. Each includes a private laundry area, a new stove and microwave, and a 1-stall garage connected via an oversized mudroom—perfect for added storage or functionality. Residents also enjoy private back patios and access to a side yard, ideal for enjoying the peaceful neighborhood surroundings. Units 3 & 4 are bright and cozy studio apartments offering smart layouts with full kitchens, bathrooms, large living areas, and tucked-away sleeping nooks. These units have seen recent upgrades including new windows, siding, and exterior decks and stairs. With neutral paint and carpet, ample storage, and plenty of natural light, these spaces provide comfortable, low-maintenance living in a fantastic location. Whether you're looking to live in one unit and lease the others, or add a high-performing property to your investment portfolio, this 4-plex delivers. Residents enjoy unmatched access to downtown shops, restaurants, coffee spots, and Spearfish's scenic outdoor amenities—all within easy walking distance. This is a rare chance to own a multi-family property in a thriving area with solid rental history, strong tenant demand, and immediate income potential. Schedule a showing today to explore this incredible Spearfish opportunity!