John Bergin 704-804-3342
TEN-X AUCTION: July 27-29
SITE TOURS: July 15-16 (by appointment only)
Waterstone Multifamily Group is pleased to present Westview Apartments; a 41 unit class B apartment community located in Salisbury, North Carolina. The property consists of three separate buildings located on approximately 2.6 acres that was built in the 1960’s. The property is a mixture of 3 bedrooms (8), 2 bedrooms (13), and 1 bedrooms (20). The property is in an excellent location with significant frontage and is strategically placed two blocks from Catawba College, approximately 4 blocks from the regional hospital, and half a block from a grocery anchor shopping center with a drug store (at the major corner). Public transportation has a local stop on the main road at the corner of the property. Westview also sits in front of the local middle school. The property has undergone a major renovation with 32 units of the 41 having a complete rehab and only 3 units left to be completed. The front two building units have gorgeous hard wood floors, remodeled kitchens, repainted walls, and ceiling fans throughout. Many appliances were replaced and each unit is large compared to the competition. The hallways have been painted and the laundry facility was rehabbed with FREE washers and dryers. A new onsite office was added and security cameras were installed. The exteriors had brand new roofs installed at the end of 2018, all buildings painted and the entire property professionally landscaped. The front two buildings also have had all of the windows replaced and the back building is scheduled to have many new windows installed in early July.
Salisbury is considered to be in the Piedmont region of North Carolina and is on interstate I-85 connecting Atlanta to Washington DC. It is located approximately 40 miles from downtown Charlotte and is considered to be in the Charlotte MSA. Salisbury is also only 90 miles from the research triangle and 40 miles from High Point (the furniture capital of the US). There are two colleges located in Salisbury, a public Junior College and the aforementioned private 4 year College (Catawba). Salisbury has a diverse employment base as it is home to the Headquarters of Food Lion (a regional grocer), Rack Room Shoes and the regional famous soft drink Cheerwine. It has also attracted new business with the recent announcement of a new 700,000 sqft. employment center for the pet food retailer Chewy which has an anticipated employment increase of 1200. It is also home to and has the strong employment center that comes with the Regional VA Medical center (blocks from the property) along with a Novant Health medical center/hospital (also blocks from the property). The population and job growth continues to rise and is predicted to be above the U.S. average in the future. Lastly, the Rowan Salisbury school system probably rounds out in the top 5.
- Address: 304 Mahaley Avenue Salisbury, North Carolina
- Area: Salisbury
- Number of Units: 41
- Year Built: 1965
- Acres: 2.6