Fully Occupied
New
For Sale
$445,000
1072-1078 Otis Boulevard, Spartanburg, SC 29302
MULTI_FAMILY - Spartanburg, SC
Property Size2,274 SF
Price / SF$195.69
Days on Market3
Property Features for 1072-1078 Otis Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3
Parking features
On Street
Subdivision
Converse Heights
Elementary school
7-Pine Street
Middle school
7-McCraken J
High school
7-Spartanburg
Elementary school district
7
Middle school district
7
High school district
7
Directions
E. Main St. to Connecticut Ave. Left on Otis. Triplex and single house beside it are last buildings on left before Palmetto St.
Standard status
Active
Size
2,274 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10468
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Floors in Building
1
Number of units
4
Listing Agency:
Prime Realty, LLC
(864) 334-8690
Listed By:
Alex Darst
(864) 434-3314
Added: Jul 30
Changed: Aug 1
Last Checked: Aug 1 at 4:06AM
MLS# 340035
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 fully occupied quadplex at 1072-1078 Otis Boulevard in Spartanburg, SC offers four individually leased units. Each unit is leased, supporting immediate rental operations, with one unit noted as offering light updating.
The property sits on tree-lined Otis Blvd in the Converse Heights area. It is positioned for convenient access to Converse College, downtown Spartanburg, and major highway routes, while also benefiting from walkable proximity to local shops and restaurants.
The building totals 2,274 square feet and is served by public water and public sewer. Heating and cooling are provided via heat pumps. Parking is listed as on-street, supporting neighborhood access and guest convenience.
The property sits on tree-lined Otis Blvd in the Converse Heights area. It is positioned for convenient access to Converse College, downtown Spartanburg, and major highway routes, while also benefiting from walkable proximity to local shops and restaurants.
The building totals 2,274 square feet and is served by public water and public sewer. Heating and cooling are provided via heat pumps. Parking is listed as on-street, supporting neighborhood access and guest convenience.
Key Highlights
- Four individually leased units with one unit noted for light updating
- 2,274 SF quadplex at 1072‑1078 Otis Boulevard, Spartanburg, SC 29302
- Heat pump heating and heat pump cooling
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.6k | $13.44 |
| − Vacancy | −$1.5k | −$0.67 |
| EGI | $29.0k | $12.77 |
| − OpEx | −$8.7k | −$3.83 |
| NOI | $20.3k | $8.94 |
2,274 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$290.3K
$254.1K – $338.7K
NOI $20,324 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$267.4K
$234.0K – $312.0K
NOI $18,721 @ 7.0% cap · market cap 4.21%
Theoretical Best
Warehouse
$1.77M
$1.54M – $2.06M
NOI $123,575 @ 7.0% cap · market cap 27.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
351
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four individually leased units with heat pump HVAC and public water and sewer, with on-street parking on Otis Boulevard.
Where is this quadplex located?
The property is located at 1072-1078 Otis Boulevard Spartanburg, SC.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Four individually leased units with one unit noted for light updating; 2,274 SF quadplex at 1072‑1078 Otis Boulevard, Spartanburg, SC 29302; Heat pump heating and heat pump cooling
