AirBnB Investment Sale: 7.8% CAP

Hospitality for Sale
Catylist Listing ID: 30526282
Number of Units: 1 Units
Building Size (RSF): 2,042 SF
Gross Building Area: See Agent
Gross Land Area: 5,654 SF
Sale Price: $529,000
Unit Price: $529,000 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: 7.8%
Last Updated: 7/30/2020

Overview / Comments

UPDATED 07/29/2020: New Metal Roof. YTD NOI = $19,243.75 (lost the month of April to Covid-19 Executive Orders). Only off $7400 from 2019 numbers and Fall bookings look strong with Q1 2021 already booked solid.

4 Bedroom AirBnB property For Sale in the Brooklyn Arts section of the Central Business District in downtown Wilmington. $41,327 for 2019 in Net Operating Income. Fully entitled with a transferable city license. Q1 of 2020 was fully booked, with the reopening of the economy, June and July has been strong, and August is already getting booked. Guests pay all fees (cleaning, taxes, online fees, etc). Steady growth over a 4 year period for one of very few 4 bedroom STRs in our market. Next door to the Brooklyn Cafe, a block from breweries, bars, restaurants and the Wilson Center for Performing Arts.

This is a great opportunity for someone looking for a passive income in the sharing economy.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: New Hanover
Tax ID/APN: R04813-014-010-000
Retail Clientele: Family, Business, Traveler, Tourist
Property Located Between: Hanover St and Campbell St.
Largest Nearby Street: N 3rd St
Highway Access: MLK/HWY 74, Carolina Beach Road/HWY 421, N. College/I40
Airports: ILM
Nearby Attractions: Downtown nightlife, eateries, pubs and historical sites. Close proximity to nearby beaches (Wrightsville Beach, Carolina Beach, Kure Beach).
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1920
Year Renovated: 2015
Construction/Siding: Vinyl Siding
Parking Type: Surface
Parking Description: Two off street parking spaces, shared driveway.
Heat Type: Natural Gas
Heat Source: Heat Pump
Air Conditioning: Package Unit
Zoning Description: This district is established to create and maintain a high density commercial, office, service and residential area meeting city, county and regional needs. It encourages the full utilization of public services and contributes to the economic base of the city.
Legal Description: PT W 6 BLK 264

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,323 41,890 101,940
Median Age: 35.93 36.39 35.83
Households: 3,771 19,056 43,832
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Cape Fear REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.