858-395-6900
915 E 2nd St, Winston-Salem, NC for Sale
Multi-Family - FOR SALE
1/19
null | Request Cap Rate

915 E 2nd St
Winston-Salem, NC 27101
East Winston


OVERVIEW

Northmarq is pleased to present the exclusive listing of Garden Innovation, a 70-unit apartment community ideally located in the heart of Winston-Salem, NC. Just minutes from downtown with direct access to US-421 and US-52, the property offers seamless connectivity to the region’s top employers and major economic drivers. Less than a mile from Innovation Quarter—a 330-acre research and technology hub anchored by Wake Forest University and several Fortune 500 companies—Garden Innovation benefits from the continued growth of one of the Southeast’s most dynamic employment centers. Residents also enjoy walkable access to downtown Winston-Salem, recently ranked one of America’s Top 10 Downtowns, offering vibrant lifestyle amenities including the Arts District, Restaurant Row, Industry Hill, local breweries, restaurants, retail, and Truist Stadium. Built in 1970, Garden Innovation presents a compelling value-add opportunity with 33 units already upgraded and 37 units primed for renovation. A targeted improvement program allows new ownership to close a $140 gap to average market comparable rents and a $323 delta to top-tier competitors, with projected premiums of $210+ over current in-place rents. Additionally, there is meaningful operational upside, with the potential to drive approximately $150k in additional NOI through improved management and ancillary income strategies. https://my.rcm1.com/handler/modern.aspx?pv=Dw4-w_oyLL7AcqVzjbBNYL2u6Nx1gTyclBUhH6hEZA68sm-e5b9K2UN_TOTwjFLiVAsZAJKygWXnNrjjtxdX0A

FOR SALE DETAILS

PRICE

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# OF UNITS

70

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garden Innovation Apartments

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

6835-57-3068

ASK ABOUT THIS PROPERTY

Dane LozierNorthmarqMore Info
858-395-6900

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Dane LozierNorthmarqMore Info
858-395-6900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.