Leased Four-Unit
For Sale
$375,000
181 N Fairview Avenue, Spartanburg, SC 29302
MULTIFAMILY, Spartanburg, SC
Property Size3,691 SF
Lot Size0.30 Acres
Price / SF$101.60
Days on Market55
Property Features for 181 N Fairview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 5, Bedroom 2
Parking features
Driveway
Elementary school
11-Draytonville Elem
Middle school
7-McCraken J
High school
7-Spartanburg
Elementary school district
7 Sptbg Co
Middle school district
7 Sptbg Co
High school district
7 Sptbg Co
Directions
From Downtown Spartanburg, take East Main Street toward Converse University, then turn left onto North Fairview Avenue. The property is located on the right, directly across from Converse University.
Subdivision
Spartanburg
Standard status
Active
Size
3,691 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8456
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Baseboard
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1927
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Prime Realty, LLC
Listed By:
William Lewis
(864) 334-8690
Added: Aug 14
Changed: Sep 15
Last Checked: Oct 7 at 6:06PM
MLS# 340644
Copyright © 2026 Spartanburg Association of REALTORS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,691-square-foot quadplex includes four leased units with individual private entrances. The front residence measures nearly 2,000 square feet and offers a front porch, separate living and dining rooms, a spacious kitchen, three bedrooms, and two-and-a-half bathrooms. The rear portion includes two one-bedroom, one-bathroom apartments and a loft-style one-bedroom, one-bathroom unit.
The property occupies 0.3 acres at 181 N Fairview Avenue in Spartanburg, across from Converse University and minutes from downtown Spartanburg, Wofford College, shopping, dining, and major employers. Parking is provided in both the front and rear, with ample rear parking serving the three additional units. Built in 1927, the property has public water, public sewer, baseboard and heat-pump heating, heat-pump cooling, and a composition roof.
The property occupies 0.3 acres at 181 N Fairview Avenue in Spartanburg, across from Converse University and minutes from downtown Spartanburg, Wofford College, shopping, dining, and major employers. Parking is provided in both the front and rear, with ample rear parking serving the three additional units. Built in 1927, the property has public water, public sewer, baseboard and heat-pump heating, heat-pump cooling, and a composition roof.
Key Highlights
- Four‑unit quadplex with all units currently leased
- 3,691 square feet on 0.3 acres
- Front residence is nearly 2,000 SF with 3 bedrooms and 2.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,989
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,780
$659.8K
Cap Rate 7%
$471,271
$471.3K
Cap Rate 9%
$366,544
$366.5K
Market Conditions
NOI Build-Up for 3,691 SF
Gross rent
$49.6K $13.44/SF
− Vacancy
−$2.5K −$0.67/SF
EGI
$47.1K $12.77/SF
− OpEx
−$14.1K −$3.83/SF
NOI
$33.0K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,780
Cap Rate 7%
$471,271
Cap Rate 9%
$366,544
Alternative Uses
Best Use
Multifamily LT 5
$471.3K
$412.4K – $549.8K
NOI $32,989 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$434.1K
$379.8K – $506.5K
NOI $30,387 @ 7.0% cap · market cap 8.10%
Theoretical Best
Warehouse
$2.87M
$2.51M – $3.34M
NOI $200,578 @ 7.0% cap · market cap 53.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 29302, SC
17,356
Population
8,169
Households
2.1
Avg Household Size
42
Median Age
41%
College-Educated
92%
High-School Grad
50.7 sq mi
ZIP Area
342
Density / Sq Mi
$77,428
Median Household Income
$44,476
Median Earnings
$1,031
Median Rent
$264,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four separately entered units are leased, with parking available at both the front and rear of the property.
Where is this quadplex located?
The property is located at 181 N Fairview Avenue Spartanburg, SC.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit quadplex with all units currently leased; 3,691 square feet on 0.3 acres; Front residence is nearly 2,000 SF with 3 bedrooms and 2.5 bathrooms
