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Alys Mill 212 Rice Rd 200 Unit Apartment Building $7,500,000 ($37,500/Unit) Easley, SC 29640
INVESTMENT HIGHLIGHTS
- Limited supply of new multifamily in the current development pipeline (lower vacancy than Greenville).
- Property approved for Historic & Textile Mill Rehabilitation tax credits (approx. 40% rebate on construction costs).
- Limited supply of studio and 1 BR units in the market; the units can command significant per sf premium.
- Bailey Bill tax abatement projected yield upwards of $4.65M in savings (over 15 yrs).
- Consistent submarket rent growth in recent years.
- Property is on the new, 7.5-mile Doodle Trail.
EXECUTIVE SUMMARY
This rare mill redevelopment project represents an extraordinary opportunity for a multifamily developer seeking a high visibility project in a tight submarket..
Southeast Pickens demonstrates strong fundamentals, making it an ideal location for multifamily development. With limited new supply in the pipeline and no construction starts in the past 12 months, demand remains high, supported by consistent rent growth. The submarket’s average building age of 42 years and minimal loft inventory underscore the opportunity for modern redevelopment. Alys Mill qualifies for multiple tax credits, including 15 years of flat taxes through the Bailey Bill, and is also situated in an Opportunity Zone.
For the full details on this development opportunity, register for the Offering Memorandum at https://www.avisonyoung.us/properties/212-rice-road-easley-sale
Southeast Pickens demonstrates strong fundamentals, making it an ideal location for multifamily development. With limited new supply in the pipeline and no construction starts in the past 12 months, demand remains high, supported by consistent rent growth. The submarket’s average building age of 42 years and minimal loft inventory underscore the opportunity for modern redevelopment. Alys Mill qualifies for multiple tax credits, including 15 years of flat taxes through the Bailey Bill, and is also situated in an Opportunity Zone.
For the full details on this development opportunity, register for the Offering Memorandum at https://www.avisonyoung.us/properties/212-rice-road-easley-sale
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $7,500,000 | Building Class | B |
| Price Per Unit | $37,500 | Lot Size | 18.30 AC |
| Sale Type | Investment | Building Size | 291,580 SF |
| Sale Condition | Redevelopment Project | No. Stories | 1 |
| No. Units | 200 | Year Built/Renovated | 1928/2025 |
| Property Type | Multifamily | Tenancy | Single |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | MF - Multifamily | ||
| Price | $7,500,000 |
| Price Per Unit | $37,500 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 200 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 18.30 AC |
| Building Size | 291,580 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1928/2025 |
| Tenancy | Single |
| Opportunity Zone |
Yes |
| Zoning | MF - Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Pool
- Walking/Biking Trails
- Lounge
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $106,280 | |
| Land Assessment | $9,820 | Total Assessment | $116,100 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$9,820
Improvements Assessment
$106,280
Total Assessment
$116,100
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Alys Mill | 212 Rice Rd
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