1014 S 7th Street, Wilmington NC, 28401

Sold

Closed

1014 S 7th Street

Wilmington NC, 28401

$10,600,000

$125.68 per sqft

Sold

Closed

84,340 sqft

Other

Built in 1930

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.

100284293

MLSⓇ ID

August 3, 2021

Listed

May 25, 2024

Updated

Map

1014 S 7th Street
Wilmington NC, 28401

Interior Features

Floor Description: See Remarks
Fireplace: No
Cooling: Yes
Cooling Description: See Remarks
Heating: Yes
Heating Description: Other-See Remarks

Exterior/Building Features

Lot Size: 77.42 Acres
Lot Features: See Others
Roof: See Remarks
Sewer: Municipal Sewer

Other Property Details

Days on Market: 103
Association Amenities: See Remarks
Garage: No
Parking: Off Street, Paved, On Street
View: No
County: New Hanover
Water Source: Municipal Water
Pool: No
Zoning: R-3, R-5 and UM

Courtesy of Intracoastal Realty Corp with Jeffrey G Hovis,
Listing Contact: 910-512-2205

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Data last updated 1:42 AM UTC, 5/25/2024