304 Church Street
- The property was fully gutted to the studs in 2002, at which time all electrical and plumbing systems were replaced
- 20-unit historic multifamily asset in a supplyconstrained submarket
- Opportunity for property tax abatement through nonprofit partnership
- Significant expense reduction potential to enhance NOI
- Proximity to Clemson University and studentdriven economic activity
- Convenient regional access to Greenville, Columbia, and Atlanta
- Diverse economic base supported by major institutional and manufacturing employers • Strong long-term rental demand drivers within growing Upstate South Carolina region
Property Description
Executive Summary Aline Capital is pleased to present the exclusive listing of Central Lofts, a 20-unit historic multifamily community located at 304 Church Street in Central, South Carolina. The property offers a compelling combination of historic character and proven operational stability within the rapidly growing Clemson submarket. Originally constructed in 1899, the property was fully gutted to the studs in 2002, with all electrical and plumbing systems replaced—providing investors with the charm of a historic asset without the typical deferred maintenance concerns. The property reflects strong care of ownership, with consistent upkeep and a well-maintained physical plant that supports reliable in-place performance. Current average rents of approximately $916 per unit position the asset squarely within the workforce housing segment, offering stable cash flow with clear upside. Notably, many of the larger one-bedroom units offer a highly actionable value-add component, as they can be efficiently converted into two-bedroom layouts through simple framing at an estimated cost of approximately $5,000 per unit. This creates a clear path to increased rental income by aligning the unit mix with strong demand for two-bedroom housing in the Clemson market. A unique and highly attractive component of this opportunity is the ability to partner with a nonprofit entity to achieve a property tax abatement. By maintaining rents at levels affordable to residents earning below Area Median Income (AMI), ownership can materially reduce operating expenses, driving increased net operating income while aligning with community-focused housing initiatives. Central’s proximity to Clemson University—just minutes away—anchors longterm demand, supported by continued enrollment growth, faculty expansion, and ongoing investment in the surrounding area. The broader Central/Clemson corridor is experiencing sustained growth driven by education, healthcare, advanced manufacturing, and technology sectors. Additionally, the property benefits from strong regional connectivity, with convenient access to Greenville, Columbia, and Atlanta. Central Lofts presents a de-risked, well-maintained asset in a high-growth submarket, offering investors the opportunity to capitalize on both stable inplace income and forward-looking upside.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,116,000 |
| No. of Units: | 20 |
| Year Built: | 1899 |
| Lot Size: | 0.67 Acres |
| Opportunity Zone: | No |
| Price per unit: | $105,800 |
| Property Website | Click Here |
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