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Building Details

Year Built 1968

Buildings 1

Listing Agency: Clardy Real Estate - Lake Keowee

Listed By: Cliff Stoltzfus · License #113107 Show Phone

Source: Greenvilleheartproperties

Added: Aug 26 Changed: Oct 2 Last Checked: Oct 7 at 1:18PM

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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 Clardy Real Estate - Lake Keowee

Investment Insights

Based on property information with market context.

This 3,740-square-foot quadplex, built in 1968, has been renovated into four residential units with a consistent two-bedroom, one-bathroom layout. Each apartment includes a living room, updated kitchen, renovated tile bathroom, kitchen appliances, washer and dryer hookups, and individually controlled heating and air systems. Updated finishes are in place throughout the property, while separately controlled utilities support distinct unit operations.

The property is located at 401 S Cherry St in Seneca, South Carolina, near downtown and Ram Cat Alley. Dining, shopping, entertainment, and major employers are identified as nearby area amenities. Two units are occupied, and two are currently available.

Key Highlights

• 3,740‑square‑foot quadplex at 401 S Cherry St, Seneca, SC 29678
• Four units, each with 2 bedrooms and 1 bathroom
• Renovated interiors with updated finishes and tile bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,141

Cap Rate

5.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$682,820 $682.8K

Cap Rate 7%

$487,729 $487.7K

Cap Rate 9%

$379,344 $379.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,740 SF

Gross rent

$51.6K $13.80/SF

− Vacancy

−$2.8K −$0.76/SF

EGI

$48.8K $13.04/SF

− OpEx

−$14.6K −$3.91/SF

NOI

$34.1K $9.13/SF

Area

Oconee County, SC

Vacancy

5.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$682,820

Cap Rate 7%

$487,729

Cap Rate 9%

$379,344

Alternative Uses

Best Use

Multifamily LT 5

$487.7K

$426.8K – $569.0K (±1% cap)

NOI $34,141 @ 7.0% cap · market cap 5.18%

Second Best

Apartment 5plus

$437.9K

$383.2K – $510.9K (±1% cap)

NOI $30,655 @ 7.0% cap · market cap 4.65%

Theoretical Best

Office A

$938.8K

$821.5K – $1.10M (±1% cap)

NOI $65,719 @ 7.0% cap · market cap 9.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Parking Lot & Garage Pharmacy Garden Center (Bike/Boat/Book/etc) Store Electrical Service Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

505

Businesses Nearby

Explore this area Business Placement

Demographics for 29678, SC

23,700

Population

11,742

Households

2

Avg Household Size

40

Median Age

24%

College-Educated

85%

High-School Grad

79.8 sq mi

ZIP Area

297

Density / Sq Mi

$49,699

Median Household Income

$33,779

Median Earnings

$943

Median Rent

$205,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four two-bedroom units feature updated kitchens, tile bathrooms, appliances, and laundry hookups.

Where is this quadplex located?

The property is located at 401 S Cherry St Seneca, SC.

What is the asking price?

The asking price for this property is $659,000.

What are key features of this property?

This property features: 3,740‑square‑foot quadplex at 401 S Cherry St, Seneca, SC 29678; Four units, each with 2 bedrooms and 1 bathroom; Renovated interiors with updated finishes and tile bathrooms