Multifamily

Cider Mill Apartments

1410 Brewer Rd, Winston-Salem, NC 27127

Listing Price: $2,150,000

Cap Rate
5.70%
Number of Units
24
GRM
10.89
Occupancy
94.19%
Price/Unit
$89,583
Price/Gross SF
$104.17
Gross SF
20,640

Investment Overview

Marcus & Millichap is pleased to offer on an exclusive basis, Cider Mill Apartments, a 24-unit multifamily community located in Winston-Salem, NC. Located just off Peters Creek Parkway and convenient to I-40 and Silas Creek Parkway, the community offers easy accessibility to surrounding economic generators including downtown Winston-Salem, Wake Forest Baptist Hospital, and Novant Hospital. In addition, the property has undergone a thorough transformation with upgraded interiors that include new cabinetry, new appliances, new tubs/vanities, luxury vinyl plank flooring, and a modern paint scheme.

Cider Mill represents an outstanding opportunity for new ownership to increase rents, capitalize upon the recent improvements to the property and demand for upgraded units within the submarket. strong growth within the Winston-Salem market. This rent growth potential coupled with ability to add community amenities to the property, further add to the attractiveness of this long-term investment opportunity.

Investment Highlights

  • Solid Market Fundamentals Combined with Strong Demographics in the Surrounding Area
  • Convenient Locations with Easy Accessibility to Major Employers, Retail Corridors,
  • Recently Renovated Property with Modern Finishes
  • Brick Exterior, Low Maintenance Property

Exclusively Listed By

Listing Price: $2,150,000

Cap Rate
5.70%
Number of Units
24
GRM
10.89
Occupancy
94.19%
Price/Unit
$89,583
Price/Gross SF
$104.17
Gross SF
20,640

Investment Highlights

  • Solid Market Fundamentals Combined with Strong Demographics in the Surrounding Area
  • Convenient Locations with Easy Accessibility to Major Employers, Retail Corridors,
  • Recently Renovated Property with Modern Finishes
  • Brick Exterior, Low Maintenance Property

Investment Overview

Marcus & Millichap is pleased to offer on an exclusive basis, Cider Mill Apartments, a 24-unit multifamily community located in Winston-Salem, NC. Located just off Peters Creek Parkway and convenient to I-40 and Silas Creek Parkway, the community offers easy accessibility to surrounding economic generators including downtown Winston-Salem, Wake Forest Baptist Hospital, and Novant Hospital. In addition, the property has undergone a thorough transformation with upgraded interiors that include new cabinetry, new appliances, new tubs/vanities, luxury vinyl plank flooring, and a modern paint scheme.

Cider Mill represents an outstanding opportunity for new ownership to increase rents, capitalize upon the recent improvements to the property and demand for upgraded units within the submarket. strong growth within the Winston-Salem market. This rent growth potential coupled with ability to add community amenities to the property, further add to the attractiveness of this long-term investment opportunity.

Exclusively Listed By

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