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460 Racine Drive

Wilmington, NC 28403
  • $685,000
  • STATUS: Closed
  • ON SITE: 83 Days
  • MLS #: 100373565
Sold - 05/26/2023
$685,000
SOLD - 05/26/2023
  • 0
    BEDS
  • 0.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,470
    SQFT
  • $197
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1984
County:
Area:

School Ratings & Info

Description

Rare opportunity to own 10 tenant capacity investment units in multifamily Development. The portfolio consists of 5 double units. Each unit has two studio style spaces with two bathrooms. There is a common shared kitchen for each double unit. Annual rents for 2022 were $68,940 and projected rents for 2023 are $73,860. Close to UNCW, Business, Employment, Restaurants, Shopping, Downtown Wilmington and the Beach.

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Mid Carolina MLS logo© 2023 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 2023-06-03T10:58:40.4.
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460 Racine Drive Wilmington, NC 28403

  • Price: $725,000
  • Status: Closed
  • On Site: 83 Days
  • Updated: 47 min ago
  • MLS #: 100373565
0
Beds
0
Baths
0
½ Baths
0.1
Acres
3,470
SQFT
$197
$/SQFT
1984
Built
Neighborhood:
Campus Edge
County:
New Hanover
Area:
Wilmington
Property Description
Rare opportunity to own 10 tenant capacity investment units in multifamily Development. The portfolio consists of 5 double units. Each unit has two studio style spaces with two bathrooms. There is a common shared kitchen for each double unit. Annual rents for 2022 were $68,940 and projected rents for 2023 are $73,860. Close to UNCW, Business, Employment, Restaurants, Shopping, Downtown Wilmington and the Beach.
Exterior Features

Construction Concrete Exterior Finish Stucco Foundation Slab Location See Remarks Location Type Mainland Lot Description See Remarks Lot Dimensions Condos in Large Sub-Division Lot Water Features None Number Of Parking Spaces 10 Parking Driveway AsphaltPavedPrivate Road Type Frontage 2 - 3 LanesPublic (City/Cty/St) Roof Flat

Interior Features

Attic None Basement None Ceiling Height 8.50 Cooling System Central Flooring CarpetVinyl Heating System Forced Air Sq Ft Apx Total 3470.00

Property Features

Airport Less Than 5 Miles Auction No City Limits Yes Cobra Zone No Commercial Features None Commercial Sub Type Other County Highway Less Than 5 Miles County Taxes 2809.00 Current Use Residential Rental Current Use1 Multi-Family Electric Provider Duke Progress Energy Federal Flood Ins Avlbl Yes Financial Info Yes Fuel Tank None Green Building Features None Gross Income 68940.00 Hoa Amenities Laundry FacilityMaint - GroundsPest ControlPool - OutdoorTrash Removal Hoa YN Yes Insurance Expense 3750.00 Interstate Less Than 5 Miles Lease Types See Remarks Management Fee 0.00 New Construction No Occupancy 100.00 Port 6 - 10 Miles Possession At ClosingSubject To Tenant Rights Property Taxes 2809.00 Rail 6 - 10 Miles Real Estate Taxes 2810.00 Sale Lease Includes See 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 2022 Terms CashConventionalSeller Financing Total Annual Expenses 15640.00 Water Provider Cape Fear Public Utility Authority Water Sewer Electricity ConnectedMunicipal SewerMunicipal Water Zoning Mf-H



Mid Carolina MLS logo Listing information © 2023 NCRMLS
Listing courtesy of Jeffrey Hovis of Intracoastal Realty Corp: (910) 256-4503.


Mid Carolina MLS logo© 2023 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 2023-06-03T10:58:40.4.
 
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