1014 S 7th Street, Wilmington, NC 28401

$12,450,000
84,340
SqFt
List Price
$12,450,000
Status
ACTIVE
MLS#
100284293
Days on Market
53
Year Built
1930
Living Area
84,340
Acres
77.42
Neighborhood
Not In Subdivision

Property Description

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 proximately 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.

Additional Information

Occupancy %
94.00
Cooling
See Remarks
Heating
Other-See Remarks
Water Heater
See Remarks
Floors
See Remarks
Foundation
Crawl Space
Roof
See Remarks
Exterior Finish
See Remarks
Lot Water Features
None
Sewer
Municipal Sewer, Municipal Water, See Remarks

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Intracoastal Realty Corp.

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