1014 S 7th Street , Wilmington

$11,475,000

MLS#: 100284293 Property Type: Commercial Address: 1014 S 7th Street City / Zip: Wilmington, NC 28401 County: New Hanover Neighborhood: Not In Subdivision Acres: 77.42 Year Built: 1930 Date Listed: 08/04/2021

Agent's Comments

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.

*Listing provided courtesy of the MLS.
Amenities
Interior Features
  • Air Conditioning: See Remarks
  • Appliances: See Remarks
  • Floor Covering: See Remarks
  • Heating: Other-See Remarks
  • Interior Features: See Remarks
External Features
  • Lot Description: See Others, See Remarks
  • Lot Description: See Others, See Remarks
  • Parking: Off Street, Paved, Street Only
  • Roof: See Remarks
Additional Features
  • Contruction: See Remarks
  • County: New Hanover
  • Status Date: 2021-10-19
  • Year Built: 1930
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Listings provided courtesy of Intracoastal Realty Corp. and Wilmington MLS.

Information Deemed Reliable But Not Guaranteed

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