Salem Crest

Posted: 5/31/2018
144 Units
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Salem Crest
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About

About Salem Crest

Offers due:  Wednesday, July 11, 2018

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit Salem Crest apartment community located in Winston-Salem, NC. Built in 1995, the property (which is sanctioned under the Section 42 Affordability Program) has recently received nearly $550,000 in capital improvements and demonstrated favorable operational momentum in the trailing 90 days. Drafting off of this positive trend, the asset provides an opportunity for a 12% boost to annual NOI through capture of the current rent gap between lease rent and the 60% AMI limits. Located adjacent to I-40, Salem Crest residents enjoy seamless access to the premier retail and major employers of Winston-Salem - a metro defined by continued population growth and a dwindling unemployment rate.

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