4 unit apartment building

220 Rookard Ct, Spartanburg, SC 29303

Please don't disturb tenants if you are doing a drive by!

Asking $120,000. Willing to negotiate, especially with a cash offer and quick closing

Income (monthly): $350 x 4= $1,400
Expense (monthly):
Insurance 53
Tax 110.58
Utilities individually metered

The property is located at 220 Rookard Ct, Spartanburg. The area is pretty clean and safe (for Spartanburg). Property backs to a nice city park.

4 one bedroom units. Each unit has one bedroom, one bath, kitchen room, and living room. They each rent for $350. You could probably push it to $375. Each unit has been remodeled (new flooring, paint, new kitchen and bath cabinets, light fixtures) within the past 2 years. One unit has a mini split heating/air. Two units have new baseboard heat. One unit has not been remodeled because the guy has been there for like 20+ years. He's probably in his late 50's/early 60's and I pay him $25 a month to mow the property. He's been great at keeping an eye on the place and usually fixes things in his unit himself.

It's a cinder block building with a flat concrete roof and mostly concrete floors. It's built like a tank. In addition to remodeling three units, I've also added gravel and build fencing to separate the units for privacy.

It's a great property and I have no issue getting quality tenants and it's managed by a great company in Spartanburg charging 10% of rents collected, flat rate on rent collected and no extra charges.

Asking $120,000

Location:

220 Rookard Ct, Spartanburg, SC 29303