A Miami-based real estate company bought nearly $ 20 million worth of South Dakota real estate.
Tzadik Properties, LLC has acquired vacation homes, apartments and a mobile home park in the Black Hills.
She also bought an apartment – Garden Villas – in Sioux Falls.
(KELO Radio contributed to this story.)
Below is a press release from Tzadik Properties with more information:
The company created its first short-term rental portfolio in South Dakota (Black Hills Estates Portfolio); as well as acquired multi-family complexes and a mobile home community.
“These various purchases reflect our commitment to growing our portfolio in South Dakota,” said Adam Marcus Hendry, CEO of Tzadik Properties, LLC. “We are excited to offer breathtaking short term property rentals within our Black Hills Estates portfolio, as well as multi-family apartment rentals for local residents and a beautiful mobile home community with spectacular grounds. . “
Michael Davalos, executive vice president and head of acquisitions at Tzadik Properties, led these efforts for Tzadik.
Black Hills Estates Portfolio: Short Term Property Rental Purchases
- 11141 Raspberry Heights Lane, Lead, SD 57754 ($ 1,305,000): aptly named Vista Lodge, this home offers seven bedrooms and four bathrooms and sleeps 15 people. Boasting incredible views, it is located on over 13 acres in the Black Hills, with trails, ski trails (Deer Mountain) and more. Features include an open plan family game room with TV area with corner fireplace, foosball, sauna, hot tub, pool table and wet bar. The buying 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 condominium on the ground floor of the Caledonia Place complex features two bedrooms, two bathrooms, an open living room and a kitchen. It is minutes from skiing, snowmobiling, hiking and biking the Mickelson Trail and downtown Lead. The buyers were Michael Davalos and VIP Properties Owner and Broker Lori Barnett. The sales agent was Bridget Gostola of The Real Estate Group.
- 13278 Klondike Rd, Rapid City, SD 57702 ($ 880,000): A single family home in Brookview Estates, this residence has four bedrooms and three bathrooms and can sleep eight people. It is located on 10.33 acres bordered by forest service, creek frontage, wildlife, and trees. Features include hardwood floors, granite countertops, high end cabinetry, incredible views, tiled floors, bar area, mezzanine reading nook, steam shower, wraparound deck, garage for 3 attached cars, and more. It is minutes from Mount Rushmore, the Crazy Horse National Monument and mountain biking trails. The buying agent was Michael Davalos and the sales agent was Michael Haeder of Haeder & Associates.
- 20768 Larkspur Road, Sturgis, SD 57785 ($ 844,000): This 3,700 square foot single family home, located in Larkspur Hills in Boulder Canyon, offers five bedrooms and three bathrooms and sleeps 10 people. It spans over three acres and borders national forest land. Features include wood beams and bolts from the historic Homestake Gold Mine, heated floors, a changing room, a 3-car heated garage, and a covered patio with Jacuzzi hot tub. The home’s open concept features vaulted ceilings and a wall of windows overlooking the courtyard and Black Hills oaks and pines. The kitchen features custom concrete countertops, a one-of-a-kind island, Homestake Ore Shaft range hood, and a hidden pantry. The buyers were Michael Davalos and VIP Properties Owner and Broker Lori Barnett. The sales agent was Jenni Sneesby of VIP Properties.
- 25110 Little Teton Road, Custer, SD 57730 ($ 536,000): The 3,000 square foot secluded Teton Cabin, a single family home, has four bedrooms and three bathrooms and sleeps 16 people. It offers a fully equipped round style kitchen with granite countertops, an island and a breakfast bar. Other features include a fully finished basement, tiered patio, gas grill, log exterior, fire pit, log exterior, and RV parking. It is minutes away from major attractions such as Mount Rushmore, Crazy Horse National Monument, Custer State Park, and more. The buyers were Michael Davalos and VIP Properties Owner and Broker Lori Barnett. The sales agent was Michael Lhotak of VIP Properties.
- 210 St. Joseph Street, Rapid City, SD, 57701 ($ 1.74 million): This 40-unit complex offers 19 studios; 19 1 bedroom, 1 bathroom residences; and two residences with 2 bedrooms and 1 bathroom. Tzadik is investing $ 1.2 million in renovations to this property, located in downtown Rapid City. The purchasing agent was Michael Davalos. The sales agent was Michael Haeder of Haeder & Associates. 225 E Watertown St., Rapid City, SD, 57701 ($ 1.029 million): The Oxford Square complex has 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 buying agent was Michael Davalos, as well as Michael Haeder of Haeder & Associates. The sales agent was Chris Long with Keller Williams.
- 1013 N Lacrosse St., Rapid City, SD 57701 ($ 2.065 million): The Horizon Townhomes consists of 30 2 and 3 bedroom units. Tzadik is investing $ 709,560 in renovations to this property. The buying agent was Michael Davalos, as well as Michael Haeder of Haeder & Associates. The sales agent was Chris Long with Keller Williams.
- 605 – 625 W 81st Street, Sioux Falls, SD 57108 ($ 9.5 million): Garden Villas has 78 1 bedroom, 1 bath; 2 bedrooms, 1 bathroom; and 2 bedroom, 2 bathroom units. The property was rebuilt in 2017 and is in very good condition. The purchasing agent was Michael Davalos. The sales agents were Michael Haeder of Haeder & Associates and Chase Wood of 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 consists of 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 sales agent was Michael Haeder of Haeder & Associates.
Additionally, Tzadik Properties / L’Chaim Farm recently purchased the 4 bedroom, 3 bath, 2,555 square foot single family home at 3830 Shady Ridge Rd, Fort Lauderdale, FL 33312 for $ 950,000. Christina Alletto, director of human resources for Tzadik Properties, LLC, served as the buying agent.
About Tzadik Properties, LLC
Tzadik Properties, LLC is a growing, innovative and dynamic real estate and property management company based in Miami, Florida. Since its inception in 2007, Tzadik has managed over $ 1 billion in apartment complexes, over 15 million square feet of commercial real estate and over 19,000 units in over 20 states. Through excellent management, a focus on corporate culture and a technology-driven operating style, Tzadik has earned a reputation for “building lasting relationships”. In 2020, Tzadik acquired JM Real Estate, Inc., a full-service commercial property management, rental, sales and investment acquisition company located in Brevard County, Florida, and serving from Titusville to Palm Bay. For more information on Tzadik, visit https://tz-m.com or call (305) 770-6383.