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    1014 S 7th Street

    Wilmington, NC 28401
    • $12,450,000
    • STATUS: Active
    • ON SITE: 55 days
    • MLS #: 100284293
    UPDATED: 12 min ago
    $12,450,000
    • 0
      BEDS
    • 77.42
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 84,340
      SQFT
    • $148
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1930
    County:
    Area:

    School Ratings & Info

    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 2021-09-28T10:57:41.937.
    www.newbernrealestatesearch.com/homes/119983167
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    1014 S 7th Street Wilmington, NC 28401

    • Price: $12,450,000
    • Status: Active
    • Updated: 12 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 2021-09-28T10:57:41.937.
     
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    1320 McCarthy Blvd.
    New Bern NC, 28560