Boxwood Terrace Apartments — Sale in Greenwood, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Greenwood, SC 29649

Photos

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Investment Figures

Cap rate
7.23%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Boxwood Terrace Apartments, a 32-unit multifamily community located in Greenwood, South Carolina. The property is situated on 2.2 acres and comprises a mix of two-bedroom, one-bathroom and three-bedroom, one-bathroom floorplans, with 24 units built in 1981/1982 and 8 units built in 2011/2012. The property benefits from meaningful recent capital investment: 27 of the 32 units have been renovated with new flooring, countertops, appliances, and fixtures, and the parking lot was resurfaced at the end of 2022. All units feature in-unit washer and dryer hookups, and the community is served by two on-site dumpsters. The remaining five classic units offer a targeted renovation program to match the completed unit renovations and capture additional rental upside. Tenants are responsible for electricity, and water is currently paid by ownership. Notably, ES Foundry, a U.S. solar cell manufacturer based in Greenwood, has leased 30% of the property to house its employees. Greenwood is centrally positioned in western South Carolina on the Piedmont Plateau, serving as the medical and educational hub of the Lakelands region and drawing from a referral population of approximately 200,000. The local economy is diversified across healthcare, higher education, and advanced manufacturing, with major employers including Self Regional Healthcare, Eaton, Capsugel, Cardinal Health, Fresh Mark, VELUX, Teijin Carbon America, Lander University, and Piedmont Technical College. Approximately 25% of Greenwood’s workforce is employed in manufacturing, and the market benefits from a central location among Atlanta, Charlotte, Greenville, Columbia, and Augusta. Investment Highlights: • Recent Renovation Program: 27 of 32 units renovated with new flooring, countertops, appliances, and fixtures. • Value-Add Runway: Remaining five classic units offer a defined path to match completed renovations and capture additional rental upside. • Recent Capital Investment:

Market Context

This multifamily in Greenwood, SC is listed for sale. It is offered at an approximate 7.2% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Greenwood, SC — view the full market.

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