Sold for $1,050,000

$1,050,000

494 N Cleveland Ave, Winston Salem, NC 27101

--beds

--baths

--sqft

Apartment, Multi Family

Built in 1965

-- sqft lot

$-- Zestimate^®

$--/sqft

$1,181 Estimated rent

Home value

Not available

Estimated sales range

Not available

$1,181/mo

Zestimate^® history

Owner options

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$1,181/mo

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$1,181/mo

Rent Zestimate^®

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$6,281/mo

Est. payment

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$6,281/mo

Est. payment

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What's special

We are pleased to present an exceptional investment opportunity with significant value add potential. This prime property is conveniently situated just across the street from the highly anticipated Metropolitan Village development and is only moments away from a vibrant array of downtown restaurants and amenities, including the renowned Bailey Park. Featuring 15 spacious apartments, each consisting of two bedrooms and one bath, this property is perfectly positioned in a rapidly expanding area. Its strategic location ensures the potential for substantial growth and a rewarding return on investment.

Facts & features

Interior

Heating

Forced Air, Wall Furnace, Electric

Cooling

Window Unit(s)

Appliances

Included: Electric Water Heater

Features

Has basement: No
Has fireplace: No

Property

Parking

Parking features: Paved

Features

Pool features: None

Lot

Size: 0.86 Acres
Dimensions: 144 x 97 x 149 x 100
Features: City Lot, Not in Flood Zone

Details

Parcel number: 6835670643
Zoning: RMU
Special conditions: Owner Sale

Construction

Type & style

Home type: MultiFamily
Property subtype: Apartment, Multi Family

Condition

Year built: 1965

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

HOA

Has HOA: No

Location

Region: Winston Salem

Financial & listing details

Tax assessed value: $449,900
Annual tax amount: $3,955
Date on market: 12/19/2023
Cumulative days on market: 17 days
Listing agreement: Exclusive Right To Sell

Price history

Date	Event	Price
10/9/2025	Listing removed	$995
Source: Zillow Rentals Report a problem
8/14/2025	Listed for rent	$995
Source: Zillow Rentals Report a problem
7/24/2025	Listing removed	$995
Source: Zillow Rentals Report a problem
6/11/2025	Listed for rent	$995
Source: Zillow Rentals Report a problem
2/28/2024	Sold	$1,050,000-8.7%
Source: Triad MLS #1128159 Report a problem
1/5/2024	Pending sale	$1,150,000
Source: Triad MLS #1128159 Report a problem
12/19/2023	Listed for sale	$1,150,000
Source: Triad MLS #1128159 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$11,554 +173.6%	$949,900 +111.1%
2024	$4,222 +4.8%	$449,900
2023	$4,030 +1.9%	$449,900
2022	$3,955	$449,900
2021	--	$449,900 +45.2%
2020	--	$309,800 +135.6%
2019	$1,833 +5.3%	$131,500
2018	$1,741	$131,500 +10.1%
2016	--	$119,407
2015	$1,704 +3.1%	$119,407
2014	$1,653	$119,407
2013	--	$119,407 -14.2%
2012	--	$139,229
2011	--	$139,229
2010	--	$139,229
2009	--	$139,229