Apartment Buildings for Sale in Winston Salem

Apartment buildings for sale in Winston Salem can be a solid investment. The investment market for multifamily buildings in the area is always solid. Investors have different models that work for their strategy. In some cases there are investors who would like to liquidate their portfolio of single-family homes and re-invest into a large multifamily building. In other cases the investor is a habitual investor in larger projects and are always looking for apartment buildings for sale in Winston Salem.

In Winston Salem if you are buying investment property then your options are currently pretty solid. This market has a solid rental market. Other areas of the state are building new buildings and flooding the market with new multifamily units (Charlotte has over 10,000 units being built). In the Winston Salem area I would recommend considering buying an existing building and renovating. This can produce income quicker and if you can negotiate a good purchase price it can produce equity quickly.

If you are considering a purchase of an apartment building in Winston Salem then you have many factors to consider:

  • Location, location, location. Always research and know the local area before you purchase
  • Buy, build, or renovate. Do you want to build a new building, buy an existing building, or buy another building and renovate it into multifamily use?
  • Upside. What is the potential for improvements and gain equity in addition to the rental income?
  • Rental rates. What can be done to increase rental rates or are they maxed out?

The purchase of an apartment building can be a great income investment. The steady monthly and long-term income can be very attractive. Likewise, equity over time is a wonderful gain. However, keep in mind that there are large expenses that come with a larger building. The most common repair items an owner of a Winston Salem area multifamily building should anticipate are:

  • Water heaters (new codes have increased this cost significantly)
  • Heat and Air Conditioning units. These can range from wall units like a hotel room or traditional heat pumps or in some gases gas furnaces.
  • Plumbing.  Is it updated or are old cast iron pipes in use that will clog and need replacement?
  • Electrical. Is the building on fuses or breakers? If you are upgrading air conditioning units you have to make sure the electrical can accommodate the swap.
  • The roof. This is one of the best things about a multifamily building there is only one roof. However, it is usually a large roof and large expense.

If you are in the market for an apartment building or other multifamily building in the Winston Salem area then feel free to contact The Carolina Crew, Inc. Our services include property management and commercial so we can help you review rent rolls on a potential purchase and help you buy a great investment.

Apartment Buildings for Sale Winston Salem

Apartment Buildings for Sale in Winston Salem

 

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 The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange(IDX) Program of the Triad MLS, Inc.. of High Point, NC. Real estate listings held by brokerage firms other than KELLER WILLIAMS REALTY are marked with the Internet Data Exchange logo or the Internet Exchange(IDX) thumbnail logo and detailed information about them includes the name of the listing brokers.

 

The information provided is for consumers' personal, non-commercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in.

 

The entire Triad MLS, Inc. Internet Data Exchange (IDX) database is displayed on this site and the data is updated at least daily. Copyright 2003 Triad MLS, Inc.. of North Carolina. All rights reserved. This data is updated every 24 hours. Some properties which appear for sale on this Web site may subsequently have sold and may no longer be available.

 

Information Deemed Reliable But Not Guaranteed.  

 

Data last updated: 09/16/2019.