Since April 2021, Tzadik Properties, LLC, an industry-leading, multifamily property management company, has acquired almost $20 million in South Dakota properties, continuing to build its portfolio in the state.
The company has created its first portfolio of South Dakota short-term rentals (Black Hills Estates Portfolio); as well as acquired multifamily complexes and a mobile home community.
“These diverse purchases reflect our dedication to building our portfolio in South Dakota,” said Tzadik Properties, LLC Chief Executive Officer Adam Marcus Hendry. “We are pleased to offer breathtaking short-term property rentals within our Black Hills Estates portfolio, as well as multifamily apartment rentals for local residents, and a beautiful mobile home community with spectacular lots.”
Leading these efforts for Tzadik was Michael Davalos, executive vice president and head of acquisitions at Tzadik Properties.
Black Hills Estates Portfolio: Short-Term Property Rental Purchases
- 11141 Raspberry Heights Lane, Lead, SD 57754 ($1,305,000): Appropriately named Vista Lodge, this home offers seven bedrooms and four bathrooms, and can accommodate 15 guests. Boasting incredible views, it is situated on more than 13 acres in the Black Hills, featuring trails, ski runs (Deer Mountain) and more. Features include an open family fun room with TV area with corner fireplace, foosball, sauna, hot tub, pool table, and bar. The purchasing agent was Michael Davalos and the selling agent was Faith Lewis with Keller Williams Realty Black Hills.
- 744 Prospect Ave, Lead, SD 57754 ($85,000): This 866-square-foot main floor condominium in the Caledonia Place complex features two bedrooms, two bathrooms, an open living room and kitchen. It is minutes away from skiing, snowmobiling, Mickelson Trail hiking and biking, and downtown Lead. The purchasing agents were Michael Davalos and VIP Properties Owner and Broker Lori Barnett. The selling agent was Bridget Gostola with The Real Estate Group.
- 13278 Klondike Rd, Rapid City, SD 57702 ($880,000): A single-family home in Brookview Estates, this residence features four bedrooms and three bathrooms, and can accommodate eight guests. It is situated on 10.33 acres bordered by forest service, creek frontage, wildlife, and trees. Features include hardwood floors, granite countertops, top-of-the-line cabinetry, incredible views, tiled floors, wet bar area, loft reading area, steam shower, wrap-around deck, attached 3-car garage, and more. It is minutes from Mount Rushmore, Crazy Horse National Monument and ATV riding trails. The purchasing agent was Michael Davalos and the selling agent was Michael Haeder with Haeder & Associates.
- 20768 Larkspur Road, Sturgis, SD 57785 ($844,000): This 3,700-sqaure-foot single-family home, located in Larkspur Hills in Boulder Canyon, offers five bedrooms and three bathrooms, and can accommodate 10 guests. It sits on over three acres and borders National Forest land. Features include wood timbers and bolts from the Historic Homestake Gold Mine, heated floors, mud room, 3-car heated garage, and covered patio with Jacuzzi hot tub. The home’s open concept living includes vaulted ceilings and a wall of windows looking out to the yard and Black Hills oak and pine trees. The kitchen features custom concrete countertops, a one-of-a-kind island, Homestake Ore Shaft range hood, and a hidden walk-in pantry. The purchasing agents were Michael Davalos and VIP Properties Owner and Broker Lori Barnett. The selling agent was Jenni Sneesby with VIP Properties.
- 25110 Little Teton Road, Custer, SD 57730 ($536,000): The secluded 3,000-square-foot Teton Cabin, a single-family home, features four bedrooms and three bathrooms, and can accommodate 16 guests. It offers a fully-equipped round-style kitchen with granite countertops, island, and breakfast bar. Other features include a fully finished basement, multi-level deck, gas grill, log exterior, fire pit, log exterior, and RV parking. It is minutes from major attractions including Mount Rushmore, Crazy Horse National Monument, Custer State Park, and more. The purchasing agents were Michael Davalos and VIP Properties Owner and Broker Lori Barnett. The selling agent was Michael Lhotak with VIP Properties.
- 210 St. Joseph Street, Rapid City, SD, 57701 ($1.74 million): This 40-unit complex offers 19 studio residences; 19 1-bedroom, 1-bathroom residences; and two 2-bedroom, 1-bathroom residences. Tzadik is investing $1.2 million in renovations to this property, located in downtown Rapid City. The purchasing agent was Michael Davalos. The selling agent was Michael Haeder with Haeder & Associates.
- 225 E Watertown St., Rapid City, SD, 57701 ($1.029 million): The Oxford Square complex includes 17 apartments, including studios; 1-bedroom, 1-bathroom; and 2-bedroom, 1-bathroom units. Tzadik is investing $262,200 in renovations to this property. The purchasing agent was Michael Davalos, along with Michael Haeder with Haeder & Associates. The selling agent was Chris Long with Keller Williams.
- 1013 N Lacrosse St., Rapid City, SD 57701 ($2.065 million): The Horizon Townhomes includes 30 2-bedroom and 3-bedroom units. Tzadik is investing $709,560 in renovations to this property. The purchasing agent was Michael Davalos, along with Michael Haeder with Haeder & Associates. The selling agent was Chris Long with Keller Williams.
- 605 – 625 W 81st Street, Sioux Falls, SD 57108 ($9.5 million): Garden Villas includes 78 1-bedroom, 1-bathroom; 2-bedroom, 1-bathroom; and 2-bedroom, 2-bathroom units. The property was rebuilt in 2017 and is in great condition. The purchasing agent was Michael Davalos. The selling agents were Michael Haeder with Haeder & Associates and Chase Wood with Legacy Development.
Mobile Home Community
- 2 Neptune Dr., Rapid City, SD 57701 ($1.4 million): The Marquette Manor Mobile Home Community is located on 4.72 acres, adjacent to Star Village, which Tzadik owns and manages. Marquette Manor features 47 lots, including 29 tenant owned homes and 17 park-owned homes. Tzadik is investing $300,000 in renovations to this property. The purchasing agent was Michael Davalos. The selling agent was Michael Haeder with Haeder & Associates.
In addition, Tzadik Properties/L’Chaim Farm recently purchased the 4-bedroom, 3-bathroom, 2,555-square-foot single family home at 3830 Shady Ridge Rd, Fort Lauderdale, FL 33312 for $950,000. Christina Alletto, chief people officer for Tzadik Properties, LLC, served as the purchasing agent.
About Tzadik Properties, LLC
Tzadik Properties, LLC is a growing, innovative and driven real estate and property management company based in Miami, Florida. Since its formation in 2007, Tzadik has managed more than $1 billion in apartment complexes, over 15 million square feet of commercial real estate, and more than 19,000 units in over 20 states. Through excellent management, a focus on company culture, and a tech-driven style of operating, Tzadik has established a reputation for “Building Lasting Relationships.” In 2020, Tzadik acquired JM Real Estate, Inc., a full-service, commercial property management, leasing, sales and investment acquisition company that is located in Brevard County, Florida, and serves from Titusville to Palm Bay. For more information about Tzadik, visit https://tz-m.com or call (305) 770-6383.