Renovated 12-Unit Apartment
For Sale
Contact for pricing
664-666 S Liberty St, Spartanburg, SC 29306
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 Market56
Property Features for 664-666 S Liberty St
General Information
Standard status
Active
Size
9,900 SF
Property subtype
Multifamily
Zoning
General Residential R-6
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
12
Building Details
Year Built
1970
Year Renovated
2023
Tenancy
Single
Listing Agency:
SVN Palmetto
Listed By:
Juan Ramos · License #136539
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 4 at 11:09AM
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $156.8k | $15.84 |
| − Vacancy | −$8.6k | −$0.87 |
| EGI | $148.2k | $14.97 |
| − OpEx | −$66.7k | −$6.74 |
| NOI | $81.5k | $8.23 |
9,900 SF · lease $15.84/SF/yr · vacancy 5.50% · expense 45.00%
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
Warehouse
$7.69M
$6.72M – $8.97M
NOI $537,991 @ 7.0% cap · market cap 43.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
226
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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
