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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.

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© 2021 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS. Data last updated 2021-09-17T13:57:30.873.
www.findwilmingtonproperties.com/homes/119983167
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1014 S 7th Street Wilmington, NC 28401

  • Price: $12,450,000
  • Status: Active
  • Updated: 61 min ago
  • MLS #: 100284293
0
Beds
0
Baths
0
½ Baths
77.42
Acres
84,340
SQFT
$148
$/SQFT
1930
Built
Neighborhood:
Not In Subdivision
County:
New Hanover
Area:
Wilmington
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.
Exterior Features

Construction See Remarks Exterior Finish See Remarks Foundation Crawl Space Location See Remarks Location Type Mainland Lot Description See Others Lot Dimensions Vary Lot Water Features None Parking Driveway Off StreetPavedStreet Only Road Type Frontage Public (City/Cty/St) Roof See Remarks

Interior Features

Attic None Basement None Cooling System See Remarks Flooring See Remarks Heating System Other-See Remarks Water Heater See Remarks

Property Features

Airport Less Than 5 Miles Auction No City Limits Yes Cobra Zone No Commercial Features See Remarks Commercial Sub Type Other County Highway Less Than 5 Miles County Taxes 51501.00 Electric Provider Duke Progress Energy Federal Flood Ins Avlbl Yes Financial Info Yes Fuel Tank None Green Building Features None Hoa Amenities See Remarks Hoa YN No Interstate Less Than 5 Miles Lease Types See Remarks New Construction No Occupancy 94.00 Port Less Than 5 Miles Possession At Closing Rail Less Than 5 Miles Sale Lease Includes BuildingsBusinessSee Remarks Sale Or Lease Sale Secondary Subdivision N/A Sewer Provider Cape Fear Public Utility Authority State Highway Less Than 5 Miles Stipulation Of Sale None Tax Year 2020 Terms 1031 ExchangeCashConventional Water Provider Cape Fear Public Utility Authority Water Sewer Municipal SewerMunicipal WaterSee Remarks Zoning R-3R-5 And Um



Listing information © 2021 NCRMLS
Listing provided courtesy of Jeffrey G Hovis of Intracoastal Realty Corp.


© 2021 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS. Data last updated 2021-09-17T13:57:30.873.
 
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The Rising Tide Team | Intracoastal Realty
1900 Eastwood Road Suite 38
Wilmington NC, 28403