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Mountain Creek Apartments 2015 Old Mountain Creek Rd 24 Unit Apartment Building $2,880,000 ($120,000/Unit) 6.45% Cap Rate Greenville, SC 29609
Executive Summary
Property Overview
Mountain Creek Apartments is a 24-unit multifamily community strategically positioned in the North Greenville submarket of Greenville, SC. The property offers a mix of 1-, 2-, and 3-bedroom units in a value-oriented rental segment, providing affordable and flexible living options with strong demand drivers given its proximity to local amenities and major thoroughfares.
Investment Highlights
• Stable Workforce Housing Asset: A 24-unit community suited for affordable and workforce demographics, offering resilient occupancy in a growing Greenville rental market.
• Diverse Unit Mix: Combination of 1-3 bedroom floorplans (~800-1,000 sq ft) appealing to singles, families, and shared living setups.
• Affordable Rent Positioning: Current base rents typically range from approximately $995 – $1,450+ / month, competitively priced relative to area comparables.
• Tenant-Focused Programs: Participation in NOAH Property Management’s resident programs (e.g., Flex Pay, Deposit Alternatives, Positive Credit Reporting) enhances tenant appeal and occupancy potential.
• Convenient Location: Easy access to local parks, shopping, dining, and major travel routes supports resident lifestyle needs and broadens market draw.
Mountain Creek Apartments is a 24-unit multifamily community strategically positioned in the North Greenville submarket of Greenville, SC. The property offers a mix of 1-, 2-, and 3-bedroom units in a value-oriented rental segment, providing affordable and flexible living options with strong demand drivers given its proximity to local amenities and major thoroughfares.
Investment Highlights
• Stable Workforce Housing Asset: A 24-unit community suited for affordable and workforce demographics, offering resilient occupancy in a growing Greenville rental market.
• Diverse Unit Mix: Combination of 1-3 bedroom floorplans (~800-1,000 sq ft) appealing to singles, families, and shared living setups.
• Affordable Rent Positioning: Current base rents typically range from approximately $995 – $1,450+ / month, competitively priced relative to area comparables.
• Tenant-Focused Programs: Participation in NOAH Property Management’s resident programs (e.g., Flex Pay, Deposit Alternatives, Positive Credit Reporting) enhances tenant appeal and occupancy potential.
• Convenient Location: Easy access to local parks, shopping, dining, and major travel routes supports resident lifestyle needs and broadens market draw.
Property Facts
| Price | $2,880,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $120,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.90 AC |
| Cap Rate | 6.45% | Building Size | 21,600 SF |
| No. Units | 24 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 2.63/1,000 SF |
| Zoning | RM - Residential Multifamily | ||
| Price | $2,880,000 |
| Price Per Unit | $120,000 |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 1.90 AC |
| Building Size | 21,600 SF |
| No. Stories | 1 |
| Year Built | 1973 |
| Parking Ratio | 2.63/1,000 SF |
| Zoning | RM - Residential Multifamily |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 800 |
| 2+1 | 10 | - | 900 |
| 3+1 | 4 | - | 1,000 |
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Property Taxes
| Parcel Number | P031.00-01-011.03 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $931,550 |
Property Taxes
Parcel Number
P031.00-01-011.03
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$931,550
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Mountain Creek Apartments | 2015 Old Mountain Creek Rd
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