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Providence Square 1311 N Main St 30 Unit Apartment Building $2,607,179 CAD ($86,906 CAD/Unit) Winston-Salem, NC 27105
Investment 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
- TREMENDOUS UPSIDE WITH OPPORTUNITY FOR 30% REVENUE BUMP and over 11% CAP Rate based on Proforma projections
- ON THE CUSP OF MAJOR FUTURE DEVELOPMENT with Innovation Quarter nearby, an existing $841M public-private mixed use project
- EXCELLENT VALUE-ADD WITH 9.6% TARGETED STABILIZED CAP based on current average rents at 95% occupancy
- ACTIVE NEIGHBORHOOD REVITALIZATION with new property owners and several renovation/reconstruction projects in the works
Executive Summary
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!
Property Facts
| Price | $2,607,179 CAD | Building Class | C |
| Price Per Unit | $86,906 CAD | Lot Size | 1.33 AC |
| Sale Type | Investment | Building Size | 22,016 SF |
| No. Units | 30 | Average Occupancy | 93% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1959 |
| Apartment Style | Garden | Parking Ratio | 1/1,000 SF |
| Zoning | RM18 - Residential | ||
| Price | $2,607,179 CAD |
| Price Per Unit | $86,906 CAD |
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.33 AC |
| Building Size | 22,016 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1/1,000 SF |
| Zoning | RM18 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 640 |
| 1+1 | 2 | - | 896 |
| 2+1 | 16 | - | 800 |
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Moderately walkable
60/100
Moderately drivable
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 6836-21-3752 | Improvements Assessment | $2,329,676 CAD |
| Land Assessment | $210,363 CAD | Total Assessment | $2,540,039 CAD |
Property Taxes
Parcel Number
6836-21-3752
Land Assessment
$210,363 CAD
Improvements Assessment
$2,329,676 CAD
Total Assessment
$2,540,039 CAD
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Providence Square | 1311 N Main St
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