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Octagon House Apartments 101 Woodrow St 13 Unit Apartment Building For Sale Laurens, SC 29360
Investment Highlights
- The asset consists of a historic building originally constructed circa 1860 and converted into five apartments, along with an eight-unit building comp
- Convenient location between Historic Downtown Laurens and the primary modern retail corridor one mile to the east
Executive Summary
Octagon House is a historic property featuring 13 apartment units in two buildings. The 2025 renovation updated the property while preserving its distinctive architectural character, including the original octagonal structure with standing-seam metal roof, multiple chimneys, and covered entry
with ADA-accessible ramp. The property includes a separate two-story building with exterior stairways and private balconies housing the majority of units. The grounds feature mature landscaping, surface parking, and a well maintained lawn area. The unit mix includes 3 one-bedroom / one-bath units at 670 SF and 10 two-bedroom / two-bath units at 850 SF.
The investment thesis centers on acquiring a recently renovated, fully stabilized asset at a sub-$90K per door basis with substantial loss-to-lease upside. Current in-place rents average $819 per unit versus market rents of $971 — a 15.7% gap that provides a clear path to organic income growth through lease renewals.
with ADA-accessible ramp. The property includes a separate two-story building with exterior stairways and private balconies housing the majority of units. The grounds feature mature landscaping, surface parking, and a well maintained lawn area. The unit mix includes 3 one-bedroom / one-bath units at 670 SF and 10 two-bedroom / two-bath units at 850 SF.
The investment thesis centers on acquiring a recently renovated, fully stabilized asset at a sub-$90K per door basis with substantial loss-to-lease upside. Current in-place rents average $819 per unit versus market rents of $971 — a 15.7% gap that provides a clear path to organic income growth through lease renewals.
Property Facts
| Sale Type | Investment | Lot Size | 1.72 AC |
| No. Units | 13 | Building Size | 17,066 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1860/2025 |
| Building Class | B | ||
| Zoning | R2 | ||
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.72 AC |
| Building Size | 17,066 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1860/2025 |
| Zoning | R2 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Hardwood Floors
- Refrigerator
- Range
- Patio
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 670 |
| 2+2 | 10 | - | 850 |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 906-18-06-009 | Improvements Assessment | $0 |
| Land Assessment | $50,000 | Total Assessment | $50,000 |
Property Taxes
Parcel Number
906-18-06-009
Land Assessment
$50,000
Improvements Assessment
$0
Total Assessment
$50,000
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