$1,895,000 USD
919-610-2695
1311 N Main St
Winston-Salem, NC 27105
Providence Square
HIGHLIGHTS
- 7.2% CAP ON 2025 YEAR END and a whopping 9.6% CAP on Stabilized numbers for this 30-unit multifamily by downtown Winston-Salem
- EXCELLENT VALUE-ADD WITH 9.6% TARGETED STABILIZED CAP based on current average rents at 95% occupancy
- TREMENDOUS UPSIDE WITH OPPORTUNITY FOR 30% REVENUE BUMP and over 11% CAP Rate based on Proforma projections
- ACTIVE NEIGHBORHOOD REVITALIZATION with new property owners and several renovation/reconstruction projects in the works
- ON THE CUSP OF MAJOR FUTURE DEVELOPMENT with Innovation Quarter nearby, an existing $841M public-private mixed use project
FOR SALE DETAILS
PRICE
$1,895,000 USD
PRICE/SF
$86 USD /SF
# OF UNITS
30
PRICE/UNIT
$63,167
CAP RATE
Request Cap Rate
% LEASED
93%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Providence Square
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1959
PARKING SPACES
30
LAND DETAILS
LAND ACRES
1.33 AC
LAND SF
57,935 SF
ZONING
RM18
APN/PARCEL ID
6836-21-3752
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919-610-2695
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919-610-2695
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