208 N 12th Street , Wilmington

$12,850,000
Divider
MLS#: 100255884 Property Type: Commercial Address: 208 N 12th Street City / Zip: Wilmington, NC 28401 Area: Wilmington County: New Hanover Neighborhood: Not In Subdivision Acres: 8.85 Year Built: 1930 Date Listed: 02/10/2021

Agent's Comments

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.

*Listing provided courtesy of the MLS.
Amenities
  • Other-See Remarks
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
  • Roof: See Remarks
Additional Features
  • Contruction: See Remarks
  • County: New Hanover
  • Status Date: 2021-06-22
  • Year Built: 1930
  • Water Features: None
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Listings provided courtesy of Intracoastal Realty Corp. and Wilmington MLS.

Information Deemed Reliable But Not Guaranteed

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