Prosper Spartanburg Apartments is a 176-unit, 1973-built garden apartment community conveniently located in Spartanburg, SC. The property includes 12 apartment buildings on over 8 acres and include a rentable area of 119,416 square feet. Situated along the commerce-rich I-85 corridor, Spartanburg is the east anchor of the prolific Upstate region, globally recognized for its massive BMW plant (8,800 employed) and burgeoning high-tech economy. Prosper Spartanburg offers a well-maintained asset with a recent targeted capex program completed that included both asset preservation as well as amenity upgrades. Prosper Spartanburg is ideally situated for completion of the proven in-place value-add program which is obtaining $100-$125 premiums on average.
Unit mix for Prosper Spartanburg include: 20 studio apartments, averaging 451 square feet; 104 one-bedroom apartments, averaging 636 square feet; and 52 two bedroom apartments, averaging 851 square feet. Average unit square feet for the property is 679 square feet. The grounds of the property are decorated with wide lawns and plenty of mature trees. We intend to re-brand this asset into one cohesive and modern community brand.