Hudson Investing is pleased to present CEV Upstate, a 158-unit property that presents a unique chance to acquire a lower-risk, 2008 vintage B-Class value-add property well below replacement cost. This property offers solid cash flow, clear upside potential, and very favorable loan assumption terms. CEV Upstate has a top-notch amenity package and is positioned for a Class-A value-add campaign to bridge the gap between submarket competitors.
This investment opportunity stands out in the current market environment due to its location along the commerce-rich Interstate 85 corridor. Spartanburg, SC serves as the east anchor of the prolific Upstate region, which is globally recognized for its massive BMW plant employing 11,000 people and its burgeoning high-tech economy. Since the start of 2021, Spartanburg County has announced over $4B in capital investments, resulting in 6,000 new jobs for the area. The area supports over 70,000 jobs within a 20-minute drive, has an impressive projected rent growth of 19% through 2028, skyrocketing home values, and a strong white-collar workforce (50%).
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