1031 MLS

ExampleThis is an example listing, published by 1031 MLS to show how a property appears here. The property does not exist, the photographs are computer-generated, and there is no seller to contact. It is kept out of search engines, buyer matches and saved-search alerts.

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Multifamily
Relinquished property

24-unit garden apartment community

Greenville, SC (approximate)

5.4% cap rate

Confirmed today

Three-storey garden apartment buildings with balconies and mature landscaping
Three-storey garden apartment buildings with balconies and mature landscaping

Overview

Two three-storey buildings of one- and two-bedroom flats, sixteen of the twenty-four renovated in 2021 with new cabinetry, flooring and in-unit laundry. Unrenovated units are roughly $180 per month below the renovated rents, which is the plan for the remaining eight as they turn. Individually metered electricity, roofs replaced 2020, surface parking at 1.5 spaces per unit. This is an example listing published by 1031 MLS to demonstrate the site. The property does not exist and is not for sale.

Property details

The deal

Property type
Multifamily
Subtype
Class B garden
Occupancy
96%

Income

Cap rate
5.4%
Net operating income
$252,720

Building

Building area
21,600 sf
Lot size
1.9 acres
Units
24 units
Year built
1998
Year renovated
2021

Exchange notes

Assumable agency debt at 4.1% maturing 2031 — worth modelling, since assuming it may cover the debt-replacement half of the exchange without new financing.

Location

Address protected

This listing shows an approximate area only. The seller has chosen to keep the exact street address private.

The precise address is released to you when the seller accepts your inquiry.