Tenant-Occupied
For Sale
$245,000
2056 Pineview Dr, Spartanburg, SC 29307
Two residential units offer established occupancy and practical in-unit features for rental operations.
Property Size1,944 SF
Price / SF$126.03
Days on Market47
Property Features for 2056 Pineview Dr
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1974
Listing Agency:
The W Lewis White Co Inc
Listed By:
Claude Saleeby
(864) 542-4759
Source:
Greenvilleheartproperties
Added: Sep 13
Changed: Oct 25
Last Checked: Oct 28 at 2:45PM
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 The W Lewis White Co Inc
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Investment Insights
Based on property information with market context.
Built in 1974, this duplex contains two residential units with approximately 972 square feet per side. Each unit is configured with two bedrooms and one full bathroom, along with central heat and air, a dishwasher, range, refrigerator, storage, and washer and dryer connections. The combined property size is 1,944 square feet.
Both units are tenant occupied and supported by leases. The property is located at 2056 Pineview Dr in Spartanburg, with the Eastside area, shopping, schools, and downtown Spartanburg identified in the property information.
Both units are tenant occupied and supported by leases. The property is located at 2056 Pineview Dr in Spartanburg, with the Eastside area, shopping, schools, and downtown Spartanburg identified in the property information.
Key Highlights
- Two‑unit duplex with approximately 972 square feet per side
- Each unit includes 2 bedrooms and 1 full bathroom
- 1,944‑square‑foot property built in 1974
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,375
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,500
$347.5K
Cap Rate 7%
$248,214
$248.2K
Cap Rate 9%
$193,056
$193.1K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$26.1K $13.44/SF
− Vacancy
−$1.3K −$0.67/SF
EGI
$24.8K $12.77/SF
− OpEx
−$7.4K −$3.83/SF
NOI
$17.4K $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 Rate 5%
$347,500
Cap Rate 7%
$248,214
Cap Rate 9%
$193,056
Alternative Uses
Best Use
Multifamily LT 5
$248.2K
$217.2K – $289.6K
NOI $17,375 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$228.6K
$200.1K – $266.8K
NOI $16,005 @ 7.0% cap · market cap 6.53%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,642 @ 7.0% cap · market cap 43.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
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Business Placement
Demographics for 29307, SC
19,034
Population
8,946
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
86%
High-School Grad
44.7 sq mi
ZIP Area
426
Density / Sq Mi
$61,330
Median Household Income
$39,543
Median Earnings
$1,043
Median Rent
$207,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer established occupancy and practical in-unit features for rental operations.
Where is this duplex located?
The property is located at 2056 Pineview Dr Spartanburg, SC.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 972 square feet per side; Each unit includes 2 bedrooms and 1 full bathroom; 1,944‑square‑foot property built in 1974
