James Davis - Commercial Real Estate Showcase

James Davis Property Listings
Marcus & Millichap Inc
324 S Elm St
Suite 300
Greensboro, NC 27401

1416 Glade Street - Glade Street West End - Bldg 1

Winston-Salem, NC 27101-2635 - Westend MF Submarket

(333.3 KB)

Property Type:Multi-Family Number of Units:10 Status:Existing Year Built:1929
Stories:3 Building Size:7,392 SF Land Area:.24 AC (10,454 SF)
For Sale Price:For Sale Price/Unit:- Cap Rate:- GRM:-

Portfolio:This property is for sale (for $1,775,000) as part of a portfolio of 4 properties.

Glade Street West End Apartments, a rare and unique investment opportunity in the Historic West End submarket of Winston-Salem, North Carolina. This property consists of 28 units, of which 25 have been recently renovated with higher end finishes that command impressive rent premiums and attract a strong tenant profile.

The interiors of the renovated units include a mix of fauxhardwood flooring, stainless steel or black appliances, new cabinetry and countertops, brushed nickel hardware, new light fixtures, etc. Exterior improvements include new siding and new paint on two of the renovated buildings. This property is in one of the most attractive multi-housing locations in Winston Salem because of its close proximity to Winston-Salem's largest employer, Wake Forest Baptist Medical Center (12,873 employees, 0.5 miles), and the Central Business District (1.0 miles), as well as the ability to quickly access I-40 (0.3 miles), and tenants enjoy beautiful Hanes Park and the YMCA directly across the street. Because of its superior location and higher end unit interiors, the property is able to achieve impressive rent premiums and is projected to maintain high occupancy levels for years to come.

Marcus & Millichap Inc
James Davis
(336) 450-4671

Patrick Foster
(336) 450-4661

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