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1-800-867-7245

605-609 Nixon Street $2,390,000

MLS#: 100443909
Address: 605-609 Nixon Street
City / Zip: Wilmington, NC 28401
Type: Multifamily / Quadruplex

Irregular

Lot Size

36

Bedrooms

City

Overview

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Presenting 605, 607 and 609 Nixon St. in Downtown Wilmington, consisting of 12 units across three quadruplex condominiums on +/- .70 acres. Each unit contains three bedrooms and one full bath, plus recent renovations including granite counter tops in the kitchens and bathrooms, laminate flooring throughout and tile flooring in the bathrooms. The downstairs units feature fenced patios with outdoor storage closets while the upstairs units have covered balconies with outdoor storage closets.

Rents on five of the units are subsidized with housing vouchers through the Wilmington Housing Authority. The Housing Authority recently approved a currently vacant unit for an 18% rent increase, the seller is in the process of having three others approved at the same rate. The opportunity for future similar increases on the remaining units at lease renewal and turnover provides a generous value add. The tenants are responsible for electric, water, sewer and cable.

The property is located adjacent to the popular Brooklyn Arts District in Downtown Wilmington, NC. The immediate area offers access to public parks, medical care, pharmacy, transportation, restaurants and entertainment. The Wilmington MSA is one of the fastest growing in North Carolina--encompassing New Hanover, Brunswick and Pender Counties. Demand for affordable housing is outpacing supply by a wide margin throughout the region, supporting this offering as a durable investment.

This listing is provided courtesy by Eric Knight, Nest Realty

Map

Map may not be 100% accurate.

Amenities

    Property Amenities

    • Interior Features

      • Wash/Dry Connect
      • Ceiling Fan(s)
    • Cooling

      • Central Air
    • Heating

      • Electric
      • Forced Air
      • Heat Pump
    • Roof

      • Architectural Shingle
    • Exterior Features

      • Balcony
      • Brick Veneer
      • Vinyl Siding
    • Parking

      • Parking Lot
      • Lighted
      • Off Street
      • On Site
      • Paved

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