Wilmington Single Family 9 Property Portfolio

Multi-Family for Sale
Catylist Listing ID: 30431577
Number of Units: 9 Units
Building Size (RSF): 9,524 SF
Gross Building Area: See Agent
Sale Price: $997,000
Unit Price: $110,777.78 Per Unit
Property Use Type: Vacant/Owner-User
Building Name: Nine Single Family Property Portfolio
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 6/25/2019

Overview / Comments

Nine single family housing rental homes. They consist of the following:
903 Rehder Alley 1 bedroom/1 bathroom
901 Rehder Alley 1 bedroom/1 bathroom
701 S 19th Street 3 bedroom/1 bathroom
1102 Emory Street 3 bedroom/1 bathroom
1103 Emory Street 3 bedroom/1 bathroom
1111 N 30th Street 3 bedroom/1 bathroom
1315 Church Street 2 bedroom/1 bathroom
515 N 10th Street 1 bedroom/1 bathroom
907 Rankin Street 5 bedroom/2 bathroom

All properties are located within the City of Wilmington. Each tenant pays all utilities and is to maintain the yard. Many leases are month to month. The properties are currently leased under area averages and annual income is $97200. 907 Rankin is set to be vacant. Properties are all located to near by public transportation.

This is a great portfolio for a starter investor or to add to an existing investor inventory. There is room to expand the rental income and return on investment with minimal effort.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: See attachment
Zoning: SEE ATTACHMENT
Percent Occupied: 90%
Property Located Between: Within 1945 City Corporate Limits
Highway Access: Access to 421, I40, Rt 17 and 74/76
Airports: ILM
Site Description: Multiple single family locations.
Area Description: Within city limits. Majority of portfolio are in residential zoned areas, three properties are within Multi-Family zoned areas.
Total Number of Buildings: 9
Property Condition: Average
Number of Stories: 2
Roof Type: Other
Construction/Siding: Wood Frame
Exterior Description: All houses are wood frame with a mix of shingle and metal roofs.
Parking Type: Other
Parking Description: Some off street parking and all are located in areas that allow on street parking.
Sprinklers: None
Heat Type: Other
Heat Source: Other
Air Conditioning: Other
Interior Description: Units heating/cooling systems vary. All are residential in character
Zoning Description: Ranges from R-3, R-5 and Multi-Family Mixed. See attached property sheet for individual listing information.
Lot Frontage: varies
Lot Depth: varies
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: some utilities easements exist.
Land Ownership: owned
Legal Description: SEE ATTACHED SCHEDULE

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,012 41,425 112,493
Median Age: 35.76 36.26 35.82
Households: 4,982 18,955 47,859

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