Rare opportunity to purchase this compelling portfolio of 83 individual income-producing properties in Wilmington, NC.
Situated between the Atlantic Ocean and the Cape Fear River, this portfolio is comprised of 79 single family homes and 4 multi-family properties, containing 14 units, for a total of 93 rental units. These charming homes are primarily early to mid-century cottages, concentrated primarily in the downtown Wilmington area, within 10-15 minutes of Wrightsville Beach and the UNC Wilmington college campus.
This is a hot area for investors who frequently remodel and upgrade properties near the downtown area for resale. While these properties have had some renovations completed, there is still enormous potential for increasing value. Portfolio is hassle-free, as all day-to-day operations are handled by one rental management company. This is a unique chance to participate in the revitalization that downtown Wilmington is experiencing, while spreading out the risk over many properties.
- 79 Single Family Properties, 4 Multi-Family Properties
- 93 Total Rental Units
- 8.53 acres of land
- Average rent $750/month
- Strong rental and buyer demand in this area
- PROJECTED CAP RATE 7%
Click HERE for additional financial information and cost estimates available through OwnAmerica, or by calling Paul Buckman, REALTOR(r) at 910-524-6834
"We'll Keep You On Course In Real Estate!"