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1014 S 7th Street $11,475,000

MLS#: 100284293
Address: 1014 S 7th Street
City / Zip: Wilmington, NC 28401
Type: Commercial

77.42

Lot Size

1930

Year Built

City

Overview

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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.

This listing is provided courtesy by Jeffrey G Hovis, Intracoastal Realty Corp

Map

Map may not be 100% accurate.

Amenities

    Property Amenities

    • Interior Features

      • See Remarks
    • Flooring

      • See Remarks
    • Appliances

      • See Remarks
    • Cooling

      • See Remarks
    • Heating

      • Other-See Remarks
    • Roof

      • See Remarks
    • Exterior Features

      • Municipal Sewer
      • Municipal Water
      • See Remarks
      • See Remarks
    • Parking

      • Off Street
      • Paved
      • Street Only
    • Lot Water Features

      • None
    • Waterview / Front

      • None

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