$7,200,000

North Gate Apartments represents a rare opportunity to acquire a stabilized, well-maintained multifamily community in the rapidly growing Upstate South Carolina market. Built in 1981 and family-owned for decades, this 52-unit property offers investors consistent occupancy, strong tenant demand, and value-add potential through modest renovations and operational improvements. Property Summary Units: 52 two-bedroom, one-bathroom apartments (~1,000 sq. ft. each) Total NRA: ~52,000 sq. ft. Buildings: Garden-style layout with pool and common areas Construction: Brick veneer with pitched roofs Years Built: 1979-1981 Rent Roll & Operations Current Rents: $990–$1,255 per unit, depending on floor level Lease Term: Standard 12-month leases Occupancy: Historically strong with low turnover due to desirable location and management practices Income Requirement: Tenants must earn 3x rent with background, credit, and rental history screening—supporting strong tenant quality and reducing delinquency Amenities & Features Community: Swimming pool, courtyard, picnic & grilling areas, ample parking In-Unit: Washer/dryer hookups, fully equipped kitchens, walk-in closets, cable & internet ready Utilities: Trash pickup included, tenants responsible for other utilities Location Advantages North Gate Apartments sits just off Liberty Highway with immediate access to I-85, connecting Anderson to Greenville, Clemson, and Atlanta. The property is minutes from Anderson’s main retail corridors, grocery stores, dining, and medical services. Employment Drivers: Anderson University, AnMed Health Medical Center, Michelin, Bosch, and Electrolux all provide strong regional employment bases. Education: Zoned to desirable Anderson District 5 schools (North Pointe Elementary, McCants Middle, T.L. Hanna High). Higher Education: Anderson University (5 miles), Tri-County Tech (9 miles), Clemson University (14 miles). Market Strength Anderson is part of the Greenville-Spartanburg-Anderson CSA, one of the fastest-growing regions in the Southeast. Multifamily fundamentals remain robust with continued in-migration, limited new supply in Anderson proper, and strong rent growth relative to household income. North Gate is positioned as a quality, affordable option within a market where new construction often prices above $1,400+ for similar two-bedroom units. Investment Highlights Stabilized Asset: 52-unit property with consistent occupancy and cash flow. Affordable Rents: Below-market rents with immediate room for incremental increases. Value-Add Potential: Light renovations (interior updates, amenity upgrades, RUBS program) could enhance NOI. Strong Location: Minutes from I-85, retail, employment, and schools. Institutional Fundamentals: Solid construction, proven tenant demand, long-term ownership history. Conclusion North Gate Apartments offers investors a well-located, cash-flowing multifamily property in the heart of Anderson, SC. With below-market rents, stable operations, and clear value-add levers, this asset is well positioned to deliver both steady income and long-term appreciation in one of the Southeast’s most dynamic growth corridors.