305 Ferrari, Spartanburg, SC 29378

$199,000
3,136
SqFt

Listing courtesy of Gramling Real Estate LLC

List Price
$199,000
Price Change
▼ $16,000 1693424906
Status
ACTIVE
MLS
301290
County
Spartanburg
Type
Multifamily
Stories
One

Property Description

RE-LISTED DUE TO NO FAULT OF THE SELLER! Welcome to an exceptional investment opportunity located just 10 minutes from downtown Spartanburg, SC. This meticulously maintained property spans 0.39 acres and features four manufactured homes, providing a fantastic chance for investors to capitalize on the thriving real estate market in the area. With two fully renovated homes already generating rental income and two additional homes primed for renovations, this property offers both immediate returns and future potential. Key Features: Location: Situated a mere 10 minutes from downtown Spartanburg, this property offers convenient access to urban amenities, including shopping, dining, entertainment, and employment opportunities. It is also 2 minutes from I-85 for an easy commute! Land: The expansive 0.39-acre plot is well-kept, featuring a brand-new driveway and lush greenery, creating a peaceful and inviting atmosphere for residents. Utilities: The property is connected to both water and power utilities, ensuring a comfortable living experience for tenants. Renovated Manufactured Homes: Two of the manufactured homes on the property have undergone extensive renovations, including new floors, electrical wiring, plumbing, kitchens, HVAC systems, roof coatings, appliances, lighting fixtures, water heaters, etc. These homes are currently rented for $750 per month each, generating immediate cash flow for investors. One is a 2 bed/2 bath and the other is a 2 bed/1 bath Potential for Value Appreciation: The two remaining manufactured homes have already been painted on the exterior, had their roofs coated, undergone demolition, and had some windows replaced. With further renovations, these homes can be transformed into lucrative rental units, expanding the revenue potential of the property. Both are currently set up to be 2 bed/1 bath. Investor-Friendly: This property is tailor-made for investors seeking to maximize their returns. With two homes already generating income, the potential for increased rental revenue from the remaining two homes, and the overall growth of the Spartanburg real estate market, this opportunity is primed for success. Don't miss out on this remarkable investment prospect that combines immediate cash flow with future value appreciation. Act now and seize the chance to add this strategically located property to your investment portfolio. Contact us today to schedule a viewing or for further information.

Additional Information

Subtype
Other
Region
Spartanburg
Approximate Age
31-50
School District
6
Living Area
3,136
Land Area Acres
0.39
Elementary School
6-Arcadia Elem
Middle School
6-Fair Forest
High School
6-Dorman High
Utility Co Electric
Duke
Utility Co Public Water
SPBG Water
Block Map
6-13-10-003.02
Taxes
$66,276
Annual Hoa Regime Fees
4
Directions
Turn off of New Cut Rd onto Newman Rd at the Valero and the property is on your left.
Roof
Metal
Heatsystem
Baseboard, Heat Pump
Water
Public Water
Sewer
Public Sewer
Specialfinancing
Owner May Finance
Showinginstructions
Advanced Notice Required, Tenant Occupied
Heatingfueltype
Electricity
Specialfinancing
Owner May Finance
Totalof Units
4
Unit One Sq Ft
784
Unit Two Sq Ft
784
Unit Three Sq Ft
784
Unit Four Sq Ft
784
Heatsystem
Baseboard, Heat Pump
Cooling
Central Forced, Zoned
Parkingperunit
Two Spaces
Water
Public Water
Sewer
Public Sewer
Specialfinancing
Owner May Finance
Showinginstructions
Advanced Notice Required, Tenant Occupied
Heatingfueltype
Electricity
Roof
Metal
Waterheater
Electric

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks