Northmarq’s Investment Sales team completes $1.39M sale of Sterling Pointe apartments in Winston-Salem, NC

WINSTON-SALEM, N.C. — Northmarq’s Charlotte Multifamily Investment Sales team led by Matthew Weinstein, Ron Corrao and Eric Liebich successfully completed the $1.39 million sale of Sterling Pointe, a 16-unit low-rise apartment community located at 820 W. 7th St. in Winston-Salem, North Carolina.  

Northmarq represented the seller, and the buyer was a high-net worth individual who is based in Florida and needed to place a 1031.

“Sterling Pointe represents the perfect combination of in-place cash flow and value-add opportunity investors seek, and we’re pleased to have guided the seller in a smooth transaction with a motivated 1031 buyer,” Weinstein said. “At a sale price of $1.39 million, the property’s strong fundamentals and compelling upside made this a win for all parties involved.”

Built in 1966 and featuring two-bedroom floorplans averaging 860 square feet, Sterling Pointe consists of 12 fully-renovated and four partially-renovated units. Situated in the heart of Winston-Salem, Sterling Pointe offers access to more than 167,000 jobs and is just minutes from major employers. The property also qualifies for North Carolina’s affordable housing program.