212 Rice Rd
Easley, SC 29640

$7,500,000 USD

Apartments For Sale • 291,580 SF

Property Details

Property Type Apartments
Total Building Size 291,580 SF
Lot Size 18.3 AC
Building Class B
Year Built 1928
Tenancy Single
Zoning MF

0 Transit Score

3 Walk Score

                
                    Highlights
                
                                Limited supply of new multifamily in the current development pipeline (lower vacancy than Greenville).
                            
                                Bailey Bill tax abatement projected yield upwards of $4.65M in savings (over 15 yrs).
                            
                                Property approved for Historic & Textile Mill Rehabilitation tax credits (approx. 40% rebate on construction costs).
                            
                                Consistent submarket rent growth in recent years.
                            
                                Limited supply of studio and 1 BR units in the market; the units can command significant per sf premium.
                            
                                Property is on the new, 7.5-mile Doodle Trail.