$11,475,000

1014 7th Street

Wilmington NC, 28401

Description

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.

Details

MLS#100284293
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1930
Days On Site84

Features

N/A84,340
Story(s)1
ZoningR-3, R-5 and UM
Loading Form
Area Information
StateNC
CountyNew Hanover
CityWilmington
Zip Code28401
AreaNew Hanover
Listing VS Median (in 28401)
Price:
$11,475,000
low | high
Med:
$299,900
100% of Average
SqFt:
84,340
low | high
Med:
1,250
100% of Average
$ / SqFt:
$136
low | high
Med:
$240
26.338586492375% of Average
On Site:
84
low | high
Med:
24
100% of Average
Sourced by Back At You
Listing Updated: October 25, 2021 8:51:22 PM PDT
Jeffrey G Hovis LogoMLS Number: 100284293
Listing Provided By:
Jeffrey G Hovis  of  Intracoastal Realty Corp
Copyright 2021 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.