Multiple Site Wilmington, NC 28401
MLS#: 30705019
$12,850,000

Property Information

Price
$12,850,000
Minimum RSF
385,619
Zoning
R-3, R-5 AND UMX

Location

County
New Hanover
City
Wilmington
State
NC
Zip
28401
Longitude
-77.9396
Latitude
34.2351

Property Description

Rare residential-rental investment opportunity available in Wilmington, North Carolina. Terra Property Portfolio is set up in 24 separate LLCs. The sale will include each LLC, Terra Property Holdings, LLC and the individual properties. There are Eighty-two (82) properties consisting of Ninety-two (92) rental units available with-in close proximately to downtown Wilmington. The portfolio consists of a combination of single-family homes, duplex, Triplexes and Quadplexes. 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 Ninety-two (92) rental units. Three properties consisting of 5 units are being marketed individually. 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.

Location

No nearby properties found.
Listing Courtesy of Intracoastal Realty Corp