Liberty Landing at Mid-Town-15 Unit Development

Multi-Family for Sale
Catylist Listing ID: 30647168
Building Status: Proposed
Number of Units: 15 Units
Building Size (RSF): 22,515 SF
Gross Building Area: 28,515 SF
Gross Land Area: 1.76 Acres
Sale Price: $3,973,500
Unit Price: $264,900 Per Unit
Property Use Type: Investment
Building Name: Liberty Landing at Mid-Town
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/13/2021

Overview / Comments

New construction development investment opportunity available. Located in Wilmington's Mid-Town area, construction is to begin on fifteen(15) new contemporary style Town-homes. Each two-story town-home will consist of 1,501 square feet(unit size may be increased in size) of comfortable living space with a 473 square foot two-car garage .Each Town-home will have three (3) bedrooms, with one being a master suite. The master suite has vaulted ceilings, spa influenced bath and a walk-out master balcony. The other two bedrooms are of a comfortable size with plenty of natural light, ceiling fans, and large-scale sized closets. There will be a master bath, a nicely laid out Hallway full bath and a downstairs powder room. There is full size Landry area and plenty of storage through out the second floor.

The main ground living area s focus is that of a large open living space.. The natural light flows through the large living room that transition to the dining and vibrate kitchen area. Off the Living Room you can walk out on to either a covered front porch or private trellised patio. All town-homes will come with the builder' s appliance package and custom design. The flooring through out the home will be a combination of polished concrete, custom tile and engineered wood. You will also find special finish details through out, such as costume glass doors, wood cabinets, granite counter tops....

These homes are located close to the river, downtown, beaches, entertainment venues, museums, art districts, restaurants, shopping and so much more. This project is ideal utilizes as a residential rental income investment. With the ever growing need for housing, an investor would see a steady income or could sell this project as individual town homes. This opportunity is wide open.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R6505-012-039-000
Zoning: R-5
Property Located Between: River Road and Worth Drive
Highway Access: 74/76, I40, RT 17
Airports: ILM
Site Description: New Construction prep site, Tree buffer, residential area
Area Description: Belmot-Stovall Div Revision area.
Total Number of Buildings: 4
Property Condition: Excellent
Number of Stories: 2
Year Built: 2021
Construction/Siding: Wood Frame
Exterior Description: Wood and vinyl siding
Parking Type: Surface, Other
Parking Description: Garage and Driveway
Total Parking Spaces: 49
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central
Fuel: Other
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Builder design, finishes and upgrades based on developer approval.
Zoning Description: Sec. 18-181. - R-5, Residential District. (a)  Purpose. This district is established for moderate to high density residential development and other compatible uses located in and near the 1945 corporate limits. Maintenance and improvement of areas of moderate to high density urban residential development is encouraged to protect the property values of the existing housing stock and to provide a suitable living environment for people who live in or near the 1945 corporate limits. Protection and rehabilitation of viable neighborhoods within this district shall be encouraged to ensure their continued existence as a major housing resource. (b)  Uses permitted by right. The following uses are permitted by right in the R-5 District, provided that they meet all requirements of this section and all other applicable requirements established in these regulations: (1)  Single-family, detached. (2)  Duplex, triplex, quadraplex. (3)  Reserved. (4)  Golf courses, private or public, with related services, including pro shop. (5)  Parks and recreation areas, municipal. (6)  Recreation, neighborhood. (c)  Uses permitted under prescribed conditions. The following uses are permitted provided that they meet all requirements of this section and all other applicable requirements established in these regulations. (1)  Bed and breakfast—in the Hemenway Residential Area only. (2)  Government uses outside public rights-of-way, except offices. (3)  Group home supportive, medium. (4)  Group home supportive, small. (5)  Libraries. (6)  Religious institutions. (7)  Telecommunication facility, unattended. (8)  Single-family courtyard developments. (9)  Utility stations and plants outside public rights-of-way (public and private) including lift stations, substations, pump stations, etc. (10)  Family care home. (11)  Homestay lodging. (12)  Whole-house lodging. (d)  Permitted by special use permit. The following uses are permitted subject to the issuance of a special use permit and provided that they meet all requirements of this section, Article 6, and all other applicable requirements established in these regulations: (1)  Community center. (2)  Day care, adult or child. (3)  Historic mixed-use buildings. (4)  Recreation facility, private. (5)  Planned unit development. (6)  Schools, primary and secondary. (e)  Permitted accessory uses and structures. Accessory uses and structures clearly incidental and subordinate to the principal use and structures including the following uses, are permitted provided that they meet all requirements of this section, the requirements of Article 6 and all other applicable requirements established in these regulations: (1)  Accessory apartment, detached. (2)  Community boating facility. (3)  Home occupation. (4)  Kennel, private. (5)  Swimming pool. (f)  Development standards. All uses and structures permitted in the R-5 District shall meet the applicable development standards established in this section and all other applicable requirements of these regulations. (1)  Dimensional requirements: a.  Minimum lot area (square feet): (b) Detached: 5,000. Duplex: 7,500. Triplex: 12,500. Quadraplex: 17,500. b.  Reserved. c.  Minimum lot width (feet): 50. d.  Maximum lot coverage (%): 50%. e.  Minimum front setback (feet): 20. f.  Minimum rear setback (feet): 15. g.  Minimum interior side setback (feet): 7 (a) . h.  Minimum corner side setback (feet): 10.5. i.  Maximum height (feet): 35. Notes: (a)  For a lot of record existing at the adoption of this chapter, the minimum interior side yard requirement shall be equal to ten (10) percent of the average width of the lot, or the otherwise noted minimum interior side yard required, whichever is less. (b)  New construction must meet minimum lot area requirements. Conversion of a structure existing at the adoption of this chapter is allowed without additional land area required per unit, except when needed to comply with off-street parking.
Lot Frontage: 253
Lot Depth: 344
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: Cape Fear Public Utility Easement- Deed Book: 6319 Page 331
Land Ownership: Boutique Building
Legal Description: BELMONT SUB LOT 27 28 PT 29 29 30 BELMONT WILMINGTON LOT 26 BELMONT WILMINGTON LOT 26

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,697 45,480 118,560
Median Age: 32.38 38.36 36.64
Households: 1,795 20,961 51,341

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