203 Caulder

$350,000 | MLS #: 334564

203 Caulder
Spartanburg, SC29306

High-Upside Value-Add Investment Opportunity – 7 Unit Conversion. . . Investors and developers—this is the type of project that creates serious equity. . This partially renovated building shell with 11 foot ceilings has already completed major structural improvements including updated roof rafters and flooring systems, significantly reducing early-stage construction risk and cost. The property is positioned to be completed as up to 7 income-producing rental units, a laundry center, and rentable storage space, giving investors the opportunity to create a strong cash-flowing asset. . .Assuming rents of $1,250/mo. x 7 units with a 35% expense ratio calculates a 9.4% CAP rate, well above average returns. BRRRR Strategy, Long Term Hold, Short Term Rental. All possible options being located close to employment and recreation. Bring your contractor and calculator to this ready to be finished opportunity.