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Providence Square

1311 N Main Street, Winston-Salem NC 27105

$ 1,895,000

Providence Square

1311 N Main Street, Winston-Salem NC 27105
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Asset Type
Garden Apartments
Price
$ 1,895,000
Per Unit
$ 63,167
Total Units
30
Year Built
1959
Market
Piedmont-Triad
Status
Draft

Highlights

REDUCED PRICE OFFERS 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

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Financials

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Location

Contact

TeamMembers-WayneBraren-Color-340x340

Wayne Braren

  • Co-Founder
  • Apartment Core
919-861-9730
Wayne@ApartmentCore.com
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TeamMembers-MikeSiciliano-Color-340x340

Mike Siciliano

  • Co-Founder
  • Apartment Core
919-861-9730
Mike@ApartmentCore.com
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TeamMembers-EricPagnozzi-Color-340x340

Eric Pagnozzi

  • Investment Broker
  • N Carolina
919-861-9730
Eric@ApartmentCore.com
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Unless otherwise specified, APARTMENT CORE represents the Seller exclusively in accordance with the following disclosure:
North Carolina Working with Real Estate Agents Disclosure - For Buyers
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Unless otherwise specified, APARTMENT CORE represents the Seller exclusively in accordance with the following disclosure:
North Carolina Working with Real Estate Agents Disclosure - For Buyers