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616 S Converse St 2 Unit Apartment Building $325,000 ($162,500/Unit) 14.03% Cap Rate Spartanburg, SC 29306
Investment Highlights
- 616 S Converse is a quaint, two-unit apartment building rented through AirBnB, originally constructed in the early 1920s and fully rehabbed in 2023.
- An investors opportunity to acquire a modern, well-maintained asset with cash-flow.
- The building is located near all events/ hospitals/ colleges in Spartanburg, enabling high renter demand.
- The two-unit building offers natural light, separated private quarters, stainless steel appliances, and modern finishes throughout.
Executive Summary
Capture this income producing fully-furnished AirBnB property for your investment portfolio. Each unit of the duplex is a two-bedroom/ one-and-a-half bath for a total of four bedrooms.
Located one mile from Downtown Spartanburg, this property boasts a mixed dynamic of guests traveling to visit college students, events in the city, and business professionals. Guests are falling in love with this charming place that gives both modern and southern vibes.
Inquire today for further renting possibilities at 616 S Converse Street. Vrbo, Furnished Finder.
Located one mile from Downtown Spartanburg, this property boasts a mixed dynamic of guests traveling to visit college students, events in the city, and business professionals. Guests are falling in love with this charming place that gives both modern and southern vibes.
Inquire today for further renting possibilities at 616 S Converse Street. Vrbo, Furnished Finder.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$61,000
|
$38.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$61,000
|
$38.08
|
| Taxes |
$8,128
|
$5.07
|
| Operating Expenses |
$6,240
|
$3.90
|
| Total Expenses |
$14,368
|
$8.97
|
| Net Operating Income |
$46,632
|
$29.11
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $61,000 |
| Annual Per SF | $38.08 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $61,000 |
| Annual Per SF | $38.08 |
| Taxes | |
|---|---|
| Annual | $8,128 |
| Annual Per SF | $5.07 |
| Operating Expenses | |
|---|---|
| Annual | $6,240 |
| Annual Per SF | $3.90 |
| Total Expenses | |
|---|---|
| Annual | $14,368 |
| Annual Per SF | $8.97 |
| Net Operating Income | |
|---|---|
| Annual | $46,632 |
| Annual Per SF | $29.11 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
1 1
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 7-16-04-009.00 | Total Assessment | $16,194 (2025) |
| Land Assessment | $786 (2025) | Annual Taxes | $8,128 ($5.07/SF) |
| Improvements Assessment | $15,408 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
7-16-04-009.00
Land Assessment
$786 (2025)
Improvements Assessment
$15,408 (2025)
Total Assessment
$16,194 (2025)
Annual Taxes
$8,128 ($5.07/SF)
Tax Year
2024
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Lifestyles Realty
616 S Converse St
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