Spartanburg Duplex: Investment
For Sale
$205,000
394 Sequoia Dr, Spartanburg, SC 29306
1,890 SF Multifamily Property
Property Size1,890 SF
Lot Size0.04 Acres
Price / SF$108.47
Days on Market634
Property Features for 394 Sequoia Dr
General Information
Standard status
Active
Property type
Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
Size
1,890 SF
Elevators
N/A
Lot size
0.04 Acres
Building Details
Year Built
1973
Buildings
2
Stories
1
Units
2
Listed By:
David Poe
(864) 404-7677
Added: Jan 22, 2025
Changed: Mar 16
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Investment Insights
Based on property information with market context.
This fully occupied brick duplex is situated on the west side of Spartanburg, South Carolina. The property, identified as Spartanburg County TMS#: 6-26-11-012.00, features a total of 1,890 square feet, divided into two nearly identical units. Each unit includes two bedrooms and one full bathroom, spanning approximately 945 square feet. The property is located on a 0.043388 acre lot on a quiet street with minimal through traffic. This duplex represents a strong addition to any investment portfolio, providing immediate rental income. Additional duplexes in the area are also available for those seeking to expand their holdings.
Key Highlights
- Spartanburg County TMS#: 6‑26‑11‑012.00
- Fully occupied brick duplex
- Both units have two (2) bedrooms and one (1) full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,892
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,840
$337.8K
Cap Rate 7%
$241,314
$241.3K
Cap Rate 9%
$187,689
$187.7K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$25.4K $13.44/SF
− Vacancy
−$1.3K −$0.67/SF
EGI
$24.1K $12.77/SF
− OpEx
−$7.2K −$3.83/SF
NOI
$16.9K $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%
$337,840
Cap Rate 7%
$241,314
Cap Rate 9%
$187,689
Alternative Uses
Best Use
Multifamily LT 5
$241.3K
$211.2K – $281.5K
NOI $16,892 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$222.3K
$194.5K – $259.3K
NOI $15,560 @ 7.0% cap · market cap 7.59%
Theoretical Best
Warehouse
$1.47M
$1.28M – $1.71M
NOI $102,707 @ 7.0% cap · market cap 50.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 29306, SC
16,822
Population
7,618
Households
2.2
Avg Household Size
36
Median Age
21%
College-Educated
83%
High-School Grad
19.5 sq mi
ZIP Area
863
Density / Sq Mi
$38,858
Median Household Income
$30,629
Median Earnings
$913
Median Rent
$159,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - 1,890 SF Multifamily Property
Where is this multifamily property located?
The property is located at 394 Sequoia Dr Spartanburg, SC.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Spartanburg County TMS#: 6‑26‑11‑012.00; Fully occupied brick duplex; Both units have two (2) bedrooms and one (1) full bath
