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54 Unit Property Portfolio 2 Properties Offered at $10,750,000 in Wilmington, NC
EXECUTIVE SUMMARY
Excellent investment opportunity in the downtown Wilmington area. This rental portfolio consists of 54 income-producing units located in close proximity to downtown. Property mix includes 24 apartment-style condo units in two buildings, along with quadplexes, triplexes, duplexes, and single-family homes, offering diversification and stable cash flow.
Current annual rental income is approximately $800,000, with documented upside potential to $1,056,000 annually through rent increases and continued stabilization. Seller has completed approximately $600,000 in recent capital improvements throughout the portfolio, providing reduced deferred maintenance and improved operational efficiency.
Ideal opportunity for investors seeking to enter the Wilmington rental market or expand an existing portfolio with scale, location, and value-add potential. Financials available upon request.
Current annual rental income is approximately $800,000, with documented upside potential to $1,056,000 annually through rent increases and continued stabilization. Seller has completed approximately $600,000 in recent capital improvements throughout the portfolio, providing reduced deferred maintenance and improved operational efficiency.
Ideal opportunity for investors seeking to enter the Wilmington rental market or expand an existing portfolio with scale, location, and value-add potential. Financials available upon request.
PROPERTY FACTS
| Price | $10,750,000 | Number of Properties | 2 |
| Price / SF | $246.93 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 43,534 SF |
| Status | Active | Total Land Area | 5.43 AC |
| Price | $10,750,000 |
| Price / SF | $246.93 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 43,534 SF |
| Total Land Area | 5.43 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 145 Lullwater Dr, Wilmington, NC 28403 | Multifamily | 42,294 SF | 1997 | - |
| 1902 Carolina Beach Rd, Wilmington, NC 28401 | Retail | 1,240 SF | 1929 | - |
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54 Unit Property Portfolio
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