Octagon House Apartments
100% Leased | 13 Units | Laurens SC Multifamily
Marketing description
Octagon House is a historic property featuring 13 apartment units in two buildings. The 2025 renovation updated the property while preserving its distinctive architectural character, including the original octagonal structure with standing-seam metal roof, multiple chimneys, and covered entry
with ADA-accessible ramp. The property includes a separate two-story building with exterior stairways and private balconies housing the majority of units. The grounds feature mature landscaping, surface parking, and a well maintained lawn area. The unit mix includes 3 one-bedroom / one-bath units at 670 SF and 10 two-bedroom / two-bath units at 850 SF.
The investment thesis centers on acquiring a recently renovated, fully stabilized asset at a sub-$90K per door basis with substantial loss-to-lease upside. Current in-place rents average $819 per unit versus market rents of $971 — a 15.7% gap that provides a clear path to organic income growth
through lease renewals.
Investment highlights
- Greysteel is pleased to present Octagon House, a 13-unit multifamily property in Laurens, SC
- The asset consists of a historic building originally constructed circa 1860 and converted into five apartments, along with an eight-unit building completed in 2007
- The property features 3 one-bedroom and 10 two-bedroom units averaging 808 SF and is currently 100% occupied with average in-place rents of $819/unit
- Octagon House offers immediate cash flow, a 15.7% loss-to-lease opportunity, and strong rental upside in a recently renovated asset located in a market with limited institutional competition.
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