212 Rice RdEasley, SC 29640

Property Details for 212 Rice Rd

Year built

1928

Lot size

19.20 AC

Property size (Sq ft)

291,580 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional redevelopment opportunity presents a 200-unit, Class A apartment building totaling 291,580 square feet on a 19.2-acre lot in Easley, South Carolina. Located at 212 Rice Rd, this fully entitled project benefits from a Pickens County moratorium on multi-unit residential construction extended to October 1, 2024, creating a limited supply of new multifamily units and lower vacancy rates than Greenville. The property is approved for Historic & Textile Mill Rehabilitation tax credits, offering approximately a 40% rebate on construction costs, and also qualifies for the Bailey Bill tax abatement, projected to yield over $4.65 million in savings over 15 years. Consistent submarket rent growth averages $1.35 to $1.60 per square foot monthly, with high demand for studio and one-bedroom units allowing for premium pricing. Built in 1928, this project sits on the new 7.5-mile Doodle Trail, offering residents convenient access to outdoor recreation. The property's APN is 5009-08-79-5182, 5009-08-68-9892, 5009-08-78-8883, and 5009-08-88-1781. This is a rare opportunity for a high-visibility project in a tight submarket.

Location Insight

City

Easley

County

Pickens

State

South Carolina

Latitude

34.8422

Longitude

-82.6415

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