East Main Apartments

Description

East Main Apartments is a 16-unit multifamily asset located in a growing and accessible submarket of Spartanburg, South Carolina. The property consists primarily of studio residences, offering an efficient unit mix that supports consistent occupancy and strong demand. The asset combines historic character with functional updates, providing reliable operations while maintaining long-term value. Units feature practical layouts with spacious living areas, contributing to tenant appeal within the local market. Key features include controlled access, on-site laundry facilities, and convenient dual-access parking, enhancing both tenant experience and ease of management. Its proximity to downtown Spartanburg, as well as nearby retail, dining, and employment centers, supports leasing stability and reduces vacancy risk. East Main Apartments represents a stabilized, smaller-scale multifamily investment with predictable cash flow and solid positioning within a growing urban market.

Details

Portfolio Type:

Multifamily

Location:

Spartanburg, SC

Purchase Price:

$1.25M

Renovation Budget:

IRR:

Equity Multiple (EMX):

Hold Period:

5 years

Refinance Goal:

Summer 2026

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