Alys Mill | 212 Rice Rd
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Alys Mill 212 Rice Rd
200 Unit Apartment Building $7,500,000 ($37,500/Unit) Easley, SC 29640
INVESTMENT HIGHLIGHTS
- Limited supply of new multifamily in the current development pipeline (lower vacancy than Greenville)
- Property approved for Historic & Textile Mill Rehabilitation tax credits (approx. 40% rebate on construction costs)
- Limited supply of studio and 1 BR units in the market; the units can command significant per sf premium
- Bailey Bill tax abatement projected yield upwards of $4.65M in savings (over 15 yrs)
- Consistent submarket rent growth in recent years
- Property is on the new, 7.5-mile Doodle Trail
EXECUTIVE SUMMARY
This rare mill redevelopment project represents an extraordinary opportunity for a multifamily developer seeking a high visibility project in a tight submarket. Qualifies for multiple tax credits and is also situated in an Opportunity Zone.
Project is "shovel ready" (building plans complete)/waiting on construction permits
For the full details on this development opportunity, register for the Offering Memorandum at alysmillsc.com
Project is "shovel ready" (building plans complete)/waiting on construction permits
For the full details on this development opportunity, register for the Offering Memorandum at alysmillsc.com
PROPERTY FACTS
| Price | $7,500,000 | Lot Size | 18.30 AC |
| Price Per Unit | $37,500 | Construction Status | Under Renovation |
| Sale Type | Investment | Building Size | 291,580 SF |
| Sale Conditions | Redevelopment Project | No. Stories | 1 |
| No. Units | 200 | Year Built/Renovated | 1928/2025 |
| Property Type | Multifamily | Tenancy | Single |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Building Class | B |
| Price | $7,500,000 |
| Price Per Unit | $37,500 |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| No. Units | 200 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 18.30 AC |
| Construction Status | Under Renovation |
| Building Size | 291,580 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1928/2025 |
| Tenancy | Single |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Pool
- Walking/Biking Trails
- Lounge
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $106,280 | |
| Land Assessment | $9,820 | Total Assessment | $116,100 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$9,820
Improvements Assessment
$106,280
Total Assessment
$116,100
ZONING
| Zoning Code | MF (MF) |
| MF (MF) |
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Alys Mill | 212 Rice Rd
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