Four Single Family Rental Properties

Multi-Family for Sale
Catylist Listing ID: 30749682
Number of Units: 4 Units
Building Size (RSF): 4,408 SF
Gross Building Area: See Agent
Gross Land Area: 27,591 SF
Sale Price: $740,000
Unit Price: $185,000 Per Unit
Property Use Type: Investment
Building Name: Four Single Family
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/16/2021

Overview / Comments

Four single family rental property portfolio. Group consists of four single family homes located at: 12 Montgomery(3Bed/2Bath), 1611 Castle Street(3Bed/1Bath), 3806 Wrightsville Avenue(3Bed/1Bath) and 701 S 19th Street(3Bed/2Bath). Total pro-forma income for 2021 is $61,356 with expenses of $6652.

Properties are fully leased and tenants are responsible for utilities and lawn maintenance. The tenant base is a mix of market and subsidy tenants. Properties are also being marketed in a larger property portfolio.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $3,394 (Annual)
Tax Value Land $322,200
Potential Rental Income $61,356 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: See Exhibit
Zoning: MIX
Percent Occupied: 100%
Property Located Between: vaires
Highway Access: 140, R17, 421
Airports: ILM
Site Description: Residential neighborhoods. Mixed zoning classifications
Area Description: Residential, close to business and commercial areas.
Total Number of Buildings: 4
Property Condition: Fair
Number of Stories: 1
Construction/Siding: Other
Exterior Description: mix of wood, vinyl and brick
Parking Type: Surface
Parking Description: Varies per property. A mix of off-street and on street
Sprinklers: None
Heat Type: Other
Fuel: Other
Air Conditioning: Other
Internet Access: Other
Interior Description: Residential set up, various heating sources.
Zoning Description: mix of zoning per property. Refer to the City of Wilmington for zoning comfirmation
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Land Ownership: Terra 9 LLC
Legal Description: See Documents attached R04913-016-027-000 12 Montgomery Ave 6338 191/2020029476 Lot 31 Montgomery Place R05407-029-009-000 1611 Castle St 6338 191/2020029476 Pt Lts 5/6 Wilm Blk 509 R05514-014-013-000 3806 Wrightsville Ave 6338 191/2020029476 Lots 41 Garden City & 5’ of Alley R05411-008-016-000 701 S 19th St 6338 191/2020029476 Lots 21 22 Pinehurst Blk B

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,935 83,312 133,451
Median Age: 32.96 35.15 36.47
Households: 5,804 36,276 57,838

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