8-Unit Apartment
For Sale
$599,900
109 Masters, Greenwood, SC 29649
A mix of occupied and vacant residences is offered with month-to-month leases and recent property upgrades.
Property Size7,200 SF
Price / SF$83.32
Days on Market14
Property Features for 109 Masters
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
16
Property subtype
Multi Family Home
Additional Details
Multifamily Units
8
Tenant in Place
Yes
Building Details
Building Size
7,200 SF
Year Built
1970
Stories
1
Units
8
Listing Agency:
Tzedi Co Realty
(803) 683-2210
Listed By:
Kristin Riley
Source:
Carolinahomesconnection
Added: Oct 13
Changed: Oct 25
Last Checked: Oct 26 at 3:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tzedi Co Realty
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Investment Insights
Based on property information with market context.
This 7,200-square-foot apartment property in Greenwood, South Carolina, contains eight units and was built in 1970. Six units are occupied, while two are vacant. All units are leased month to month. Several residences have received recent updates, and select units have new HVAC systems; the roof has also been replaced recently.
Key Highlights
- Eight‑unit multifamily property with six occupied units and two vacant units
- 7,200 square feet; built in 1970
- All units have month‑to‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,707
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,140
$494.1K
Cap Rate 7%
$352,957
$353.0K
Cap Rate 9%
$274,522
$274.5K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$83.8K $11.64/SF
− Vacancy
−$38.9K −$5.40/SF
EGI
$44.9K $6.24/SF
− OpEx
−$20.2K −$2.81/SF
NOI
$24.7K $3.43/SF
Area
Greenwood County, SC
Vacancy
46.40%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,140
Cap Rate 7%
$352,957
Cap Rate 9%
$274,522
Alternative Uses
Best Use
Apartment 5plus
$353.0K
$308.8K – $411.8K
NOI $24,707 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,326 @ 7.0% cap · market cap 26.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
Explore this area
Business Placement
Demographics for 29649, SC
27,485
Population
11,966
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
93%
High-School Grad
53.6 sq mi
ZIP Area
513
Density / Sq Mi
$56,268
Median Household Income
$37,221
Median Earnings
$937
Median Rent
$207,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A mix of occupied and vacant residences is offered with month-to-month leases and recent property upgrades.
Where is this apartment building located?
The property is located at 109 Masters Greenwood, SC.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Eight‑unit multifamily property with six occupied units and two vacant units; 7,200 square feet; built in 1970; All units have month‑to‑month leases
