Location
Agent Comments
Part of 5-property income portfolio in downtown Wilmington -- offered as a single transaction. or as a stand alone. All homes leased and currently producing $96,000 in annual gross rent. Seller has completed significant system upgrades across the portfolio in recent years: new roofs (4 of 5), new HVAC, new windows, new flooring. Concentrated in Wilmington's most active rental corridor -- walking distance to the Cargo District, Castle Street, and the Riverfront. Combined ~5,000 sq ft / 14 BR / 9 BA across five separate parcels. Est. cap rate ~6.9% at asking on current rents. Sold as-is.
Additional Features
- Association Amenities: None
- County: New Hanover
- Days on Market: 100
- Pool: No
- Tax Number: R05413-022-020-000
- Water/Sewer: Sewer Connected, Water Connected
- Year Built: 1925
- Property Type: Residential
- Property Sub Type: Single Family Residence
- Tax Year: 2025
- Tax Amount: $1,609.56
Financial
- Short Sale: Standard
Interior Features
- Cool System: Central Air, Heat Pump
- Heat System: Heat Pump, Electric, Forced Air
- Interior: None, Ceiling Fan(s)
- Room Type: Master Bedroom, Dining Area, Living Room, Bedroom 2
- Total Rooms: 4
- Levels: One
- Heating Fuel: Electric
- Association Amenities: None
- Full Baths: 2
- 1/2 Baths: 0
- Water Heater: Electric
- Basement Description: None
Exterior Features
- Fuel Tanks: None
- Parking: Off Street, Unpaved
- Roof: Shingle
- Siding: Vinyl Siding
- Is New Construction: No
- Construction: Vinyl Siding,Wood Frame
- Foundation: Crawl Space
- Water Source: Public
- Septic or Sewer: Municipal Sewer
- Utilities: Sewer Connected,Water Connected
- Garage Spaces: 0
- Parking Spaces: 0
- Fencing: Partial,Wood
- Exterior: Vinyl Siding
- Patio/Deck Description: Covered,Porch
- Zoning: R-5
- Building Total Area (Sq.Ft): 1224
- Road Description: City Street,State Road
- Road Improvements: See Remarks
- View Description: None
Location
- Directions: Take US-17 BUS S/Market St Continue on N 17th St. Take Rankin St and McRae St to N 7th St
- Street Number: 1104
- County: New Hanover
- Latitude: 34.221712
- Longitude: -77.939247
- Subdivision: Not In Subdivision
- Marketing City: Wilmington
Listed by: Benjamin T Eisenberg from RE/MAX Essential.