Renovated 12-Unit Apartment
664-666 S Liberty St, Spartanburg, SC 29306
For Sale
Contact for pricing
Renovated 12-unit property in Spartanburg with General Residential R-6 zoning and strong occupancy history.
Property Size9,900 SF
Price / SF$126.26
Days on Market153
Property Features for 664-666 S Liberty St
General Information
Standard status
Size
Class
Property subtype
Zoning
Occupancy
Investment Type
Additional Details
Business Included
Multifamily Units
Building Details
Year Built
Year Renovated
Buildings
Units
Tenancy
Listing Agency:
SVN Palmetto
Listed By:
Juan Ramos · License SC #136539
Source:
Crexi
Added: Jun 11
Changed: Oct 25
Last Checked: Nov 10 at 5:57AM
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 SVN Palmetto
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Investment Insights
Based on property information with market context.
This apartment building contains 12 units and was constructed in two phases, with buildings dating to 1966 and 1970. The property has undergone renovations in 2022 and 2023, reflecting an updated residential finish across the asset. The current unit status is described as fully occupied.
Located at 664-666 S Liberty St in Spartanburg, South Carolina, the property falls under General Residential R-6 zoning, which is noted in the listing as providing flexibility for residential use. The offering also highlights the property’s blend of period construction with the more recent renovation work.
For buyers looking for a multifamily asset, this building’s 12-unit configuration may support straightforward operational management while continuing to benefit from the improvements completed over the last two years. The listing also positions the property as suitable for investors interested in residential rental operations, with zoning identified as General Residential R-6. As presented, it offers an opportunity to acquire a renovated income-oriented property with ongoing occupancy.
Located at 664-666 S Liberty St in Spartanburg, South Carolina, the property falls under General Residential R-6 zoning, which is noted in the listing as providing flexibility for residential use. The offering also highlights the property’s blend of period construction with the more recent renovation work.
For buyers looking for a multifamily asset, this building’s 12-unit configuration may support straightforward operational management while continuing to benefit from the improvements completed over the last two years. The listing also positions the property as suitable for investors interested in residential rental operations, with zoning identified as General Residential R-6. As presented, it offers an opportunity to acquire a renovated income-oriented property with ongoing occupancy.
Key Highlights
- 12‑unit property with 100% occupancy rate
- Renovated in 2022 and 2023
- General Residential R‑6 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,505
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,630,100
$1.6M
Cap Rate 7%
$1,164,357
$1.2M
Cap Rate 9%
$905,611
$905.6K
Market Conditions
NOI Build-Up for 9,900 SF
Gross rent
$156.8K $15.84/SF
− Vacancy
−$8.6K −$0.87/SF
EGI
$148.2K $14.97/SF
− OpEx
−$66.7K −$6.74/SF
NOI
$81.5K $8.23/SF
Area
Spartanburg County, SC
Vacancy
5.50%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,630,100
Cap Rate 7%
$1,164,357
Cap Rate 9%
$905,611
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,505 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$5.88M
$5.14M – $6.86M
NOI $411,405 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
251
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?
Apartment building - Renovated 12-unit property in Spartanburg with General Residential R-6 zoning and strong occupancy history.
Where is this apartment building located?
The property is located at 664-666 S Liberty St Spartanburg, SC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 12‑unit property with 100% occupancy rate; Renovated in 2022 and 2023; General Residential R‑6 zoning
