HDMU corner lot, edge of CBD

Multi-Family for Sale
Catylist Listing ID: 30763595
Property Subtypes: Duplex/Fourplex, Mixed Use
Number of Units: 4 Units
Building Size (RSF): 3,200 SF
Gross Building Area: See Agent
Sale Price: $800,000
Unit Price: $200,000 Per Unit
Property Use Type: Investment, Business
Building Name: RT
Sale Terms: Cash to Seller
Average Occupancy Rate: 75
Last Updated: 10/12/2021

Overview / Comments

Fourplex, block built structure with stucco finish with corrugated roof and full basement on prominent downtown corner lot. Fully leased, each unit with terrace. Heavy interior mouldings and hardwood floors throughout building. Served as parsonage for Grace United Methodist Church for years. Off-street parking and full basement. Currently used as commercial offices, short term and long term residences.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: wilmington
Tax ID/APN: R04817-015-014-000
Zoning: MU
Percent Occupied: 100%
Property Located Between: Chestnut and Grace Streets on N 4th
Highway Access: one block from 3rd Street/MLK Parkway corridor
Airports: ILM is 6minutes away
Site Description: block wall / bulkhead surrounds north and east perimeter of corner lot
Area Description: walking distance to everything that downtown Wilmington has to offer. shares property border with city of Wilmington municipal offices
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 2
Year Built: 1920
Year Renovated: 2018
Roof Type: Hip
Construction/Siding: Stucco
Exterior Description: block built with stucco finish and spanish-style, corrugated roof
Parking Ratio: 68 (per 1000 SF)
Parking Type: Surface
Parking Description: some off street parking available for up to 6 vehicles
Total Parking Spaces: 6
Laundry: Shared
Sprinklers: None
Heat Type: Electricity, Natural Gas, Space Heaters
Heat Source: Baseboard, Central, Wall Units, Heat Pump
Fuel: Gas, Electric
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: four, one bedroom apartments with one bathroom in each unit
Zoning Description: MU. was once SF but current use applicable since 1980
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: we use the city parking lot for access to our parking area. uncontested.
Land Ownership: owned
Legal Description: PT LTS 1/2 BLK 193 WILM

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,323 41,890 102,449
Median Age: 35.93 36.39 35.86
Households: 3,771 19,056 43,999

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