Occupied 4-Unit
For Sale
$435,000
1072-1078 Otis Boulevard, Spartanburg, SC 29302
MULTIFAMILY, Spartanburg, SC
Property Size2,274 SF
Lot Size0.30 Acres
Price / SF$191.29
Days on Market94
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 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2
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 Sptbg Co
Middle school district
7 Sptbg Co
High school district
7 Sptbg Co
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
Lot size
0.30 Acres
Additional Details
Tenant in Place
Yes
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: Oct 28
Last Checked: Oct 31 at 4:06PM
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,274-square-foot quadplex contains four separately leased residences and sits on a 0.3-acre parcel. Heating and cooling are provided by heat pumps, and the property is served by public water and sewer. Parking is available on the street.
Key Highlights
- Four occupied units, each with an individual lease
- 2,274 square feet on a 0.3‑acre parcel
- Heat pump heating and cooling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,324
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,480
$406.5K
Cap Rate 7%
$290,343
$290.3K
Cap Rate 9%
$225,822
$225.8K
Market Conditions
NOI Build-Up for 2,274 SF
Gross rent
$30.6K $13.44/SF
− Vacancy
−$1.5K −$0.67/SF
EGI
$29.0K $12.77/SF
− OpEx
−$8.7K −$3.83/SF
NOI
$20.3K $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%
$406,480
Cap Rate 7%
$290,343
Cap Rate 9%
$225,822
Alternative Uses
Best Use
Multifamily LT 5
$290.3K
$254.1K – $338.7K
NOI $20,324 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$267.4K
$234.0K – $312.0K
NOI $18,721 @ 7.0% cap · market cap 4.30%
Theoretical Best
Warehouse
$1.77M
$1.54M – $2.06M
NOI $123,575 @ 7.0% cap · market cap 28.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has an individual lease, with all four units occupied.
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 $435,000.
What are key features of this property?
This property features: Four occupied units, each with an individual lease; 2,274 square feet on a 0.3‑acre parcel; Heat pump heating and cooling
