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$11,475,000
1014 S 7th St, Wilmington, NC 28401
0 Beds
0 Baths
n/a sqft

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Rare residential-rental investment opportunity available in Wilmington, North Carolina. Terra Property Portfolio is set up in separate LLCs. The sale will include each LLC, Terra Property Holdings, LLC and the individual properties. There are 78 properties consisting of 83 units available with-in close proximity to downtown Wilmington. The portfolio consists of a combination of 72 single-family homes, 3 duplex,1 Quadplex, 1 warehouse and one track of land.. Properties are in close proximity of one another and most have access to public transportation. Many of the homes are of historic nature and are within established neighborhoods. The current owner oversees all the management of all rental units. They have established a management and marketing program for the properties that can carry over to the new owner The current owner utilizes a number of rent assistance programs and has many market-based tenants. The Wilmington rental market is very active and the demand for rental housing is extreme. The current owner continues to see the value of the portfolio but has other opportunities that have opened up this great opportunity for another investor. The current owner is happy to work with the new owner for a smooth ownership transition. The income, the improvements, and the growth potential make this a great investment.
  • Price:
  • $11,475,000
  • Acreage:
  • 77.42
  • Year Built:
  • 1930
  • Listing ID #:
  • 100284293
  • Street Address:
  • 1014 S 7th St
  • City:
  • Wilmington
  • State:
  • North Carolina
  • Postal Code:
  • 28401
  • County:
  • New Hanover
  • Subdivision:
  • Not In Subdivision
  • Listing Status:
  • Active
  • Listing Type:
  • Commercial
  • Construction Description:
  • See Remarks
  • Flooring:
  • See Remarks
  • Foundation:
  • Crawl Space
  • Heated Square Footage:
  • 84340.00
  • Siding:
  • See Remarks
  • Type Of Roof:
  • See Remarks
  • Year Built:
  • 1930
  • Conforms To Zoning:
  • R-3, R-5 And Um
  • Lot Description:
  • See Others
  • Lot Square Footage:
  • 3372312.00
  • Road Frontage:
  • Public (city/Cty/St)
  • For Sale Or Lease?:
  • Sale
  • Terms:
  • 1031 Exchange, Cash, Conventional
  • Hoa Fee Includes:
  • See Remarks
  • Price Per Square Foot:
  • 136.06
  • Tax Year:
  • 2020
  • Parking Description:
  • Off Street, Paved, Street Only
  • Cooling System:
  • See Remarks
  • Heating:
  • Other-See Remarks
  • Utilities:
  • Municipal Sewer, Municipal Water, See Remarks
  • Water Heater:
  • See Remarks
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By: Intracoastal Realty Corp
  • NCREGIONAL