208 N 12th Street, Wilmington, NC 28401

$13,250,000
89,246
SqFt
List Price
$13,250,000
Status
ACTIVE
MLS#
100255884
Days on Market
66
Year Built
1930
Living Area
89,246
Acres
8.85
Neighborhood
Not In Subdivision

Property Description

Rare residential-rental investment opportunity available in Wilmington, North Carolina. Terra Property Portfolio is set up in 24 separate LLCs. The sale will include each LLC, Terra Property Holdings, LLC and the individual properties. There are Eighty-two (82) properties consisting of Ninety-two (92) rental units available within close proximately to downtown Wilmington. The portfolio consists of a combination of single-family homes, Duplex, Triplexes and Quadplexes. 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 Ninety-two (92) 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

Taxes
$55,014
Cooling
See Remarks
Heating
Other-See Remarks
Water Heater
See Remarks
Floors
See Remarks
Roof
See Remarks
Exterior Finish
See Remarks
Lot Water Features
None
Sewer
See Remarks

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Intracoastal Realty Corp.

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