Easley Apartments Portfolio 3 Multifamily Properties in Easley, SC

Overview
Over the past four and a half years, ownership has implemented a comprehensive modernization program across all three Easley assets, targeting both interior and exterior improvements. Approximately 50% of units have been fully renovated to upgraded specifications (average cost $8,000–$12,000 per unit), 25% have received light-turn enhancements, and the remaining 25% remain in original condition—preserving affordability while maintaining clear future upside through continued renovations.
Exterior & System Improvements
Exterior and site improvements total an estimated $500,000–$600,000, encompassing full-property paint, deck and stair rebuilds, site lighting upgrades, and parking lot resurfacing. Mechanical systems were selectively upgraded in coordination with unit renovations to promote long-term operational stability and reduced deferred maintenance exposure.
Summary
The Easley Portfolio represents a stabilized, post-rehab collection of three assets where the major capital cycle has been completed. Deferred maintenance has been addressed, and the properties now provide predictable performance with minimal near-term capital requirements.
Renovated units are achieving measurable rent premiums over legacy interiors, underscoring a proven value-add program with additional upside through continued interior modernization.
Properties are enrolled in the Safe Harbor tax abatement program, providing significant real estate tax savings that enhance ongoing cash flow; current taxes shown in the financials reflect this abatement, and ownership will assist in maintaining the program for new ownership to ensure continued benefit.
Greenville MSA Growth Corridor – Located within the Easley submarket of Greenville, the portfolio benefits from strong metro-wide job growth, in-migration, and expanding renter demand driven by affordability pressures in the urban core.
Proven Stabilized Performance – With high occupancy and consistent collections, the portfolio offers steady in-place income and immediate scalability across three closely located assets totaling 93 units.
Value-Add Upside – Interior and common-area upgrades across select buildings present a clear opportunity to capture rent premiums while maintaining affordability in a sub-$1,300 rent band.
Attractive Financing in Place – The existing Freddie Mac loan must be assumed, providing the following terms: $7,050,000 loan balance, 5.49% fixed rate, 30-year amortization, 6 months remaining interesting-only period.
Established Residential Locations – Each property enjoys proximity to Downtown Easley, major retail corridors, and local employment hubs, providing durable occupancy fundamentals and minimal competing supply in the immediate submarket.