<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0002062386</cik>
        <entityName>SPC Preferred Equity Fund I LLC</entityName>
        <issuerAddress>
            <street1>10316 TAPESTRY BEND</street1>
            <city>LAKE ELMO</city>
            <stateOrCountry>MN</stateOrCountry>
            <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
            <zipCode>55042</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>952-200-2173</issuerPhoneNumber>
        <jurisdictionOfInc>ARIZONA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2025</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jeremy</firstName>
                <lastName>Dyer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>10316 Tapestry Bend</street1>
                <city>Lake Elmo</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55042</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of JM Dyer Properties LLC, Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Drew</firstName>
                <lastName>McWilliams</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>6000 Deal Road</street1>
                <city>Weddington</city>
                <stateOrCountry>NC</stateOrCountry>
                <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
                <zipCode>28104</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of Bedrock Investment LLC, Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kathleen</firstName>
                <lastName>Nguyen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13446 Poway Road Suite 219</street1>
                <city>Poway</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92064</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President of Lifetime Real Estate, Inc., Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Timothy</firstName>
                <lastName>Olson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1511 Clarmar Avenue West</street1>
                <city>Roseville</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55113</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of TKO Enterprises LLC, Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Scott</firstName>
                <lastName>Zielinski</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4222 North paradise Way</street1>
                <city>Scottsdale</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85251</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of Koltek Investments, L.L.C., Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Sutter</firstName>
                <lastName>Alex</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>36 North Highway 75</street1>
                <city>Shoshone</city>
                <stateOrCountry>ID</stateOrCountry>
                <stateOrCountryDescription>IDAHO</stateOrCountryDescription>
                <zipCode>83352</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President of Intermountain Financial Group, Inc, Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Weston</firstName>
                <lastName>Walker</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>6918 East Hacienda La Colorado Drive</street1>
                <city>Gold Canyon</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85118</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of West Rock Equity LLC, Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Residential</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06c</item>
            <item>3C</item>
            <item>3C.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2025-02-28</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>5000000</totalOfferingAmount>
            <totalAmountSold>3485000</totalAmountSold>
            <totalRemaining>1515000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>36</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>104550</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Due Diligence Fee.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>SPC Preferred Equity Fund I LLC</issuerName>
                <signatureName>Jeremy Dyer</signatureName>
                <nameOfSigner>Jeremy Dyer</nameOfSigner>
                <signatureTitle>Manager of the Manager of the Issuer</signatureTitle>
                <signatureDate>2025-03-21</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
