39 Spartanburg Street

Description

Located in Greenville's highly sought-after Overbrook neighborhood, 39 Spartanburg St., an all-brick, recently renovated, fully occupied triplex, presents a unique investment opportunity. This vibrant area seamlessly blends historic charm with contemporary appeal and has recently been featured in Forbes, making it a prime location for investors and residents. This fully-rented triplex, built in 1946, boasts a rich income history and promising potential for appreciation with below-market rents in two units. Following thoughtful renovations, the property now showcases modern kitchens and appliances in Units A and C, all while preserving the stunning original hardwood floors that celebrate its storied history. The newly (2025) painted exterior, quaint walkways, sidewalks, and public library box enhance its curb appeal. With approximately 2,100 square feet of living space thoughtfully divided into three distinct, separately-metered, two-bedroom, one-bathroom units, this property is designed to meet the ever-growing demand of tenants to live in close proximity to Greenville's vibrant Downtown (1.5 miles) cultural and arts scene. With a current Net Operating Income (NOI) of $41,448, a Capitalization (CAP) rate of 7.34%, and a long-term tenant history, this investment embodies strong financial health and reliability. Furthermore, the property features a roof made of durable architectural shingles, which retains over half its expected lifespan, along with well-maintained HVAC systems that promise tenant comfort and minimize maintenance costs. The sizable 0.208-acre lot provides a convenient, recently (2024) poured driveway for parking"an enviable amenity in this sought-after area. The walk-in basement provides each tenant additional storage space, another added value differentiator. Outdoor enthusiasts will delight in the proximity to the Swamp Rabbit Trail (0.7 miles), perfect for leisurely walks and invigorating bike rides, while beautiful green spaces at Timmons Park (0.7 miles) beckon for relaxation. The David Hellams Community Center (0.2 miles)brims with local activities, a covered basketball court, and a playground. Culinary aficionados will revel in the nearby dining options, including Fork & Plough (0.2 miles), Clare's Creamery(0.2 miles), Scout's Doughnuts (0.3 miles) and Harry's Hoagie Shoppe (0.2 miles). For those keen on fitness, establishments like The WRKT Greenville Pilates studio (0.2 miles) and C.O.R.E. Grow Strong Pilates studio and athletic clothier (0.4 miles) provide excellent opportunities to stay active and engaged. With all units currently rented, this property provides immediate income, making it an attractive addition to any investment portfolio. Its charm, the neighborhood's national recognition, picturesque surroundings, and convenient amenities truly set it apart. Seize the opportunity to make this Greenville treasure a part of your investment journey! To respect the residents and allow prospective purchasers to view the property, we will hold an open house on Thursday, April 24, between 11:00 AM and 1:00 PM. We have moved up the open house based on numerous inquiries and interested parties. Do not disturb tenants or walk the property without permission from the listing brokerage. More photos of Units B and C, current lease agreements, and other supplements are available upon request.