Projected IRR
70%
Projected Hold
1 Years
Year Acquired
2023
This multifamily apartment complex is located in Union, South Carolina - a short 30-minute drive from Spartanburg, SC - and is part of the Greenville, SC metropolitan area, which is one of the best real estate markets in the US. This proximity creates lots of potential for positive economic momentum as larger cities in the Southeast, like Greenville, remain a sought-after destination for industry and residential living.
Built in 1999, this affordable housing complex is a mix of large 2BR/1Bath and 3BR/2Bath units that have range of amenities (dishwasher, stove, kitchen area, LVP flooring, etc). Purchased in October of 2023 at an incredible cost basis of around $52K/door, this affordable housing complex has the ability to easily increase rents to closer to $900 per unit in quick fashion.
741 Merritt Capital Dr. Ste 104
Wake Forest, NC 27587
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