REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 269,900
Est. payment | /mo
5,970 SqFt
$ 269,900
Est. payment | /mo
5,970 SqFt
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,970 sqft
Price per Sqft $45
MLS Listing ID SPN334564
Annual Tax Amount $1,094
Tax Year 2024
Lot Size 0.530 Acres
Acres 0.53
Property Sub-Type Apartment
Property Description
High-Upside Value-Add Investment Opportunity – 7 Unit Conversion. . . Investors and developers—this is the type of project that creates serious equity. . This partially renovated building shell with 11 foot ceilings has already completed major structural improvements including updated roof rafters and flooring systems, significantly reducing early-stage construction risk and cost. The property is positioned to be completed as up to 7 income-producing rental units, a laundry center, and rentable storage space, giving investors the opportunity to create a strong cash-flowing asset. . .Assuming rents of $1,250/mo. x 7 units with a 35% expense ratio calculates a 9.4% CAP rate, well above average returns. BRRRR Strategy, Long Term Hold, Short Term Rental. All possible options being located close to employment and recreation. Bring your contractor and calculator to this ready to be finished opportunity.
Location
State SC
County Spartanburg
Interior
Heating None
Cooling None
Fireplace N
Exterior
Roof Type Composition
Building
Building Age 50+
Story One and One Half
Sewer Public Sewer
Water Public
Structure Type Block
Schools
Elementary Schools 7-Mary Wright
Middle Schools 7-Carver Jr
High Schools 7-Spartanburg
School District 7
Listed by Brand Name Real Estate Upstate
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "