Listed by Furman Capital Advisors
Unpriced
Brick Street Lofts
Details
APN 7-12-01-140.00
Property Type Multifamily
Square Footage 48,684
Units 47
Year Built 1930
Stories 2
Lot Size (SqFt) 94,525
95% Occupied. Tax-Abated. Value-Add Ready.
Marketing description
Property Highlights
- 43 units (5 Studios | 25 One-Bedroom | 13 Two-Bedroom), originally built in 1915 and comprehensively redeveloped in 2018
- High-end finishes including stainless steel appliances, granite countertops, and restored hardwood floors
- 95% occupied with an in-place average rent of $1,205 versus a blended market average of $1,280
Compelling Value-Add
- Approximately $50,920 annually in immediate NOI upside through loss-to-lease capture and full implementation of the Power RUB utility billback program—requiring minimal to no capital investment
- Bailey Bill historic tax abatement in place through 2037, providing an estimated $167,000+ annually in property tax savings versus a post-sale reassessment
Why Spartanburg
- The Spartanburg metro continues to be one of the nation's fastest-growing markets, supported by approximately $3.5 billion in announced capital investment and roughly 1,000 new jobs added in 2025, including a $2.8 billion high-performance computing center
- Walkable location near Spartanburg Regional Medical Center, VCOM, Wofford College, Converse University, and the city's expanding downtown employment and entertainment district
Investment highlights
Property Highlights
- 43 units (5 Studios | 25 One-Bedroom | 13 Two-Bedroom), originally built in 1915 and comprehensively redeveloped in 2018
- High-end finishes including stainless steel appliances, granite countertops, and restored hardwood floors
- 95% occupied with an in-place average rent of $1,205 versus a blended market average of $1,280
Compelling Value-Add
- Approximately $50,920 annually in immediate NOI upside through loss-to-lease capture and full implementation of the Power RUB utility billback program—requiring minimal to no capital investment
- Bailey Bill historic tax abatement in place through 2037, providing an estimated $167,000+ annually in property tax savings versus a post-sale reassessment
Why Spartanburg
- The Spartanburg metro continues to be one of the nation's fastest-growing markets, supported by approximately $3.5 billion in announced capital investment and roughly 1,000 new jobs added in 2025, including a $2.8 billion high-performance computing center
- Walkable location near Spartanburg Regional Medical Center, VCOM, Wofford College, Converse University, and the city's expanding downtown employment and entertainment district
Listing Contacts
Listed by Furman Capital Advisors
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Zoning
DT-4 MixedMixed UseDowntown General Urban Zone
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View all 85 uses Last updated Jun 23, 2026 For deeper zoning details, reports are available at Zoneomics
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