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1631 West Northwest 1631-1641 W Northwest Blvd 45 Unit Apartment Building $3,500,000 ($77,778/Unit) Winston-Salem, NC 27104
Investment Highlights
- ONLY $77K PER UNIT VALUE-ADD MULTIFAMILY with 45 units just outside downtown Winston-Salem, North Carolina
- OVER 30% AVERAGE RENTAL UPSIDE based on local rent comps for 1-BR units
- READY FOR NEW OWNER TO CAPITALIZE by updating the units and maximizing rents
- 8.66% PROFORMA CAP RATE with significant growth potential
- DIRECTLY IN THE PATH OF PROGRESS with upscale housing and shopping including Publix, Whole Foods & Trader Joe's right around the corner
Executive Summary
ONLY $77K PER UNIT VALUE-ADD MULTIFAMILY with 45 units just outside downtown Winston-Salem, North Carolina!
Property Facts Under Contract
| Price | $3,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $77,778 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.14 AC |
| No. Units | 45 | Building Size | 27,000 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1956 |
| Zoning | RM18 | ||
| Price | $3,500,000 |
| Price Per Unit | $77,778 |
| Sale Type | Investment |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.14 AC |
| Building Size | 27,000 SF |
| No. Stories | 3 |
| Year Built | 1956 |
| Zoning | RM18 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Security System
- Refrigerator
- Range
- Carpet
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 45 | - | 600 |
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Property Taxes
| Parcel Number | 6825-45-2806 | Improvements Assessment | $2,031,800 |
| Land Assessment | $255,600 | Total Assessment | $2,287,400 |
Property Taxes
Parcel Number
6825-45-2806
Land Assessment
$255,600
Improvements Assessment
$2,031,800
Total Assessment
$2,287,400
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1631 West Northwest | 1631-1641 W Northwest Blvd
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