Spartanburg, SC 29306
- $350,000
- List Price
- $350,000
- Price Change
- ▲ $80,100 1784604838
- Status
- ACTIVE
- MLS
- 334564
- County
- Spartanburg
- Type
- Multifamily
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.
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Additional Information
- Subtype
- Apartment
- Region
- Spartanburg
- School District
- 7
- Elementary School
- 7-Mary Wright
- Middle School
- 7-Carver Jr
- High School
- 7-Spartanburg
- Taxes
- $1,094
- Roof
- Composition
- Water
- Public
- Sewer
- Public Sewer
- Cooling
- None
- Water
- Public
- Sewer
- Public Sewer
- Roof
- Composition
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Listing courtesy of Brand Name Real Estate Upstate.