Duplex with Central
For Sale
$199,000
211 California Avenue, Spartanburg, SC 29303
MULTIFAMILY, Spartanburg, SC
Property Size1,500 SF
Lot Size0.17 Acres
Price / SF$132.67
Days on Market138
Property Features for 211 California Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 8, Bedroom 6, Bedroom 3, Bedroom 7, Bedroom 1
Parking features
Off Street
Elementary school
7-Cleveland
Middle school
7-Whitlock 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 the Greenville area, take I-85 N, continue on I-85 BL N, take exit 5A for I-585 toward downtown Spartanburg, take exit 25 A-B Whitney Rd, ramp to 25B, turn left onto Whitney Rd, turn left onto California Ave, property will be second house on right.
Subdivision
Spartanburg
Standard status
Active
Size
1,500 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2613
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
NorthGroup Real Estate
(864) 777-3021
Listed By:
Allen Williams · License #103166
(864) 376-2955
Added: Apr 24
Changed: Sep 6
Last Checked: Sep 8 at 5:06PM
MLS# 336300
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 duplex contains approximately 1,500 square feet on a 0.17-acre parcel, with two residential units and off-street parking. The property is equipped with central air conditioning and heat-pump heating, with a composition roof and connections to public water and public sewer. The layout supports either continued rental use or an owner-occupant arrangement with one unit retained for rental income.
The property is near Downtown Spartanburg, area hospitals, colleges, shopping, dining, and the new baseball stadium. Major roadways provide access to surrounding destinations, including Greenville. The address is 211 California Avenue in Spartanburg, South Carolina.
The property is near Downtown Spartanburg, area hospitals, colleges, shopping, dining, and the new baseball stadium. Major roadways provide access to surrounding destinations, including Greenville. The address is 211 California Avenue in Spartanburg, South Carolina.
Key Highlights
- Duplex with approximately 1,500 square feet
- Two residential units on a 0.17‑acre parcel
- Central air conditioning and heat‑pump heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,406
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$268,120
$268.1K
Cap Rate 7%
$191,514
$191.5K
Cap Rate 9%
$148,956
$149.0K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.2K $13.44/SF
− Vacancy
−$1.0K −$0.67/SF
EGI
$19.2K $12.77/SF
− OpEx
−$5.7K −$3.83/SF
NOI
$13.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$268,120
Cap Rate 7%
$191,514
Cap Rate 9%
$148,956
Alternative Uses
Best Use
Multifamily LT 5
$191.5K
$167.6K – $223.4K
NOI $13,406 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$176.4K
$154.4K – $205.8K
NOI $12,349 @ 7.0% cap · market cap 6.21%
Theoretical Best
Warehouse
$1.16M
$1.02M – $1.36M
NOI $81,514 @ 7.0% cap · market cap 40.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Explore this area
Business Placement
Demographics for 29303, SC
26,793
Population
10,891
Households
2.5
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
32.4 sq mi
ZIP Area
827
Density / Sq Mi
$45,713
Median Household Income
$24,506
Median Earnings
$968
Median Rent
$143,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with off-street parking, public water, and public sewer.
Where is this duplex located?
The property is located at 211 California Avenue Spartanburg, SC.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Duplex with approximately 1,500 square feet; Two residential units on a 0.17‑acre parcel; Central air conditioning and heat‑pump heating
