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Garden Innovation Apartments 915 E 2nd St 70 Unit Apartment Building $6,090,000 ($87,000/Unit) Winston-Salem, NC 27101
Executive Summary
Innovation Garden Apartments presents a compelling value-add opportunity in Winston-Salem’s expanding downtown Innovation Quarter area. The property consists of 70 two-bedroom, one-bathroom units across eight buildings, with separately metered utilities and more than $700,000 in completed capital improvements. Approximately half of the units have been renovated, achieving significant rental premiums, while the remaining units provide additional upside. The property is leasing up quickly and is well positioned for continued growth through renovations, improved occupancy, and increased market rents.
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- Offering Memorandum
Property Facts
| Price | $6,090,000 | Building Class | C |
| Price Per Unit | $87,000 | Building Size | 58,584 SF |
| Sale Type | Investment | Average Occupancy | 79% |
| No. Units | 70 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2025 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | RM-18 | ||
| Price | $6,090,000 |
| Price Per Unit | $87,000 |
| Sale Type | Investment |
| No. Units | 70 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Building Size | 58,584 SF |
| Average Occupancy | 79% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2025 |
| Opportunity Zone |
Yes |
| Zoning | RM-18 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Refrigerator
- Oven
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 78 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 6835-57-3068 | Improvements Assessment | $2,794,400 |
| Land Assessment | $330,800 | Total Assessment | $3,125,200 |
Property Taxes
Parcel Number
6835-57-3068
Land Assessment
$330,800
Improvements Assessment
$2,794,400
Total Assessment
$3,125,200
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Garden Innovation Apartments | 915 E 2nd St