208 N 12th Street, Wilmington, NC 28401 | 100255884 | Intracoastal Realty

208 N 12th Street $13,250,000

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    208 N 12th Street Wilmington, NC 28401

    • 89,246 sq. ft.
    • Commercial Sale
    • MLS# 100255884
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    Views: 351 Days On Site: 68

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    Property Details

    Rare residential-rental investment opportunity available in Wilmington, North Carolina. Terra Property Portfolio is set up in 24 separate LLCs. The sale will include each LLC, Terra Property Holdings, LLC and the individual properties. There are Eighty-two (82) properties consisting of Ninety-two (92) rental units available within close proximately to downtown Wilmington. The portfolio consists of a combination of single-family homes, Duplex, Triplexes and Quadplexes. 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 Ninety-two (92) 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.

    • General Features
      • Year Built 1930
      • Subdivision Not In Subdivision
      • Square feet 89,246
      • New Construction No
      • Cobra Zone No
      • Lot Acres 8.85
      • City Limits Yes
      • County New Hanover
      • Hoa Amenities See Remarks
      • HOA No
      • Stipulation of Sale None
    • Building Features
      • Flooring See Remarks
      • Roof See Remarks
      • Water Heater See Remarks
      • Cooling System See Remarks
      • Exterior Finish See Remarks
      • Basement None
      • Attic None
      • Construction See Remarks
    • Property Features
      • Road Type Frontage Public (City/Cty/St)
      • Lot Water Features None

    Contact

    Jeff Hovis

    Jeff Hovis

    Broker/REALTOR®

    Lumina Station - Wilmington

    Mobile Phone: 910-512-2205

    Neighborhood

    28401 (Wilmington) Demographics

    38 Median Age
    961 Population Density (per sq. mile)
    32% College Educated
    $29,467 Estimated Median Income
    3,511 Estimated Total Home Owners
    6,610 Estimated Total Renters
    35% / 65% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    23,203 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $260,897 Median Sales Price
    58 Homes Sold
    55 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $13,250,000
        2/8/2021 3:37:00 PM New in Database Source New Value: $13,250,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.