Carolina Beach Land- Zoned MF

Vacant Land for Sale
Catylist Listing ID: 30751170
Property Subtypes: Multi-Family
Gross Land Area: 0.23 Acres
Sale Price: $1,285,000
Unit Price: $5,586,956 Per Acre
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/16/2021

Overview / Comments

Ocean-front land, consisting of .23 acres(10,018 SF) in Carolina Beach. The land is zoned Multi-Family Residential with the potential of 4 units to be built on the site. Currently the property has a single family structure that operates as a Airbnb at approximately $50,000/year. Great location with 50 feet of road and beach frontage. An investor could continue to operate the short term rental as they move through the development process.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: New Hanover County
Tax ID/APN: R09014-002-035-000
Zoning: MF
Legal Description: Lts 2/22 Blk 7 Wilmington Beach
Largest Nearby Street: Lake Park S
Feet of Frontage: 50
Highway Access: R17, 74/76 421 and I 40
Airports: ILM
Site Description: Ocean
Area Description: Multi-family Residential zoning. A mix of commercial, residential and vacation rental in area.
Lot Frontage: 50
Lot Depth: 200
Zoning Description: MF, Multi-Family Residential District. (1) Purpose. This district is established to provide for moderate to high-density single-family and multifamily residential uses and other compatible uses of varying types and designs. It functions as an alternative housing type near or in direct relationship to single-family detached housing while in harmony with and maintaining the integrity of the residential district.
Available Utilities: Electric, Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,449 6,630 16,413
Median Age: 47.62 45.98 45.65
Households: 1,536 3,060 7,169

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