615 S 6 Street Duplex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30582868
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 2 Units
Building Size (RSF): 2,500 SF
Gross Building Area: 3,750 SF
Gross Land Area: 4,885 - 4,855 SF
Sale Price: $559,800
Unit Price: $279,900 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: 615
Usable Size (USF): 2,500 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 4/3/2020

Overview / Comments

Rental Income Property located close to downtown. Estimated monthly rent per units is $1700-$1800, Property is zoned R-3. An investor could live in one an rent the other or rent both and watch their investment grow.

Newly constructed condominiums located in the heart of the Castle Street Arts and Antique District. This two well-appointed 1,250 square foot condos that have two generously sized bedrooms and two spacious bathrooms. The large open floor plan provides many options for the use of space. Stylish kitchen with stainless appliances, natural gas range, tasteful cabinetry, granite counters and island will add to your living experience. The natural light flows through out the space and shows off the real 3/4" oak hardwood floors. The fireplace, 9-foot ceilings, ceiling fans, convenient laundry area, recessed lighting all added to the comfort of this home. From the large living area, you can walk out on your coverage porch and enjoy the view. You will have the convenience of a two-car garage with off street driveway access., The quality of construction and extreme attention to detail add to your investment. Your home is within walking distance to shopping, restaurants, wine bars, antique shops, cultural arts and other entertainment throughout downtown. Urban living at its best.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R05409-011-006-000
Zoning: R-3
Property Located Between: 6th and 7th Street
Highway Access: 74/76
Airports: ILM
Site Description: Residential street the is a block from Castle Street business district.
Area Description: Urban, mix of single family, multifamily and businesses
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 3
Year Built: 2019
Construction/Siding: Other
Exterior Description: exterior siding is cement board.
Parking Ratio: 1 (per 1000 SF)
Parking Type: Surface, Other
Parking Description: Two car garage per unit and 1 surface space.
Total Parking Spaces: 6
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Hard wood floor, residential finishes, all appliances in place.
Zoning Description: Sec. 18-182. - R-3, Central City Residential District. (a)  Purpose. This district is established for high density residential development and other compatible uses. It is intended to recognize areas of high urban residential development in the 1945 corporate limits and encourage the protection, rehabilitation and maintenance of the housing stock within the district. Recognition of the 1945 corporate limits residential district serves as a positive force in efforts to preserve the character of established neighborhoods within it and thereby safeguard the property values of the inner city's housing resources. (b)  Uses permitted by right. The following uses are permitted by right in the R-3 District, provided that they meet all requirements of this section and all other applicable requirements established in these regulations: (1)  Single-family, detached. (2)  Reserved. (3)  Duplex, triplex, quadraplex. (4)  Golf courses, private or public, with related services, including pro shop. (5)  Recreation facility, neighborhood. (6)  Parks and recreation areas, municipal. (c)  Uses permitted under prescribed conditions. The following uses are permitted provided that they meet all requirements of this section, Article 6, and all other applicable requirements established in these regulations. (1)  Group home supportive, small. (2)  Group home supportive, medium. (3)  Government uses outside public rights-of-way, except offices. (4)  Libraries. (5)  Religious institutions. (6)  Telecommunication facility, unattended. (7)  Utility stations and plants outside public rights-of-way (public and private) including lift stations, substations, pump stations, etc. (8)  Family care home. (9)  Single-family courtyard developments. (10)  Homestay lodging. (11)  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)  Recreation facility, private. (4)  Historic mixed-use buildings. (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-3 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): (a), (c) Detached: 0. Duplex: 4,500. Triplex: 7,500. Quadraplex: 10,500. b.  Reserved. c.  Minimum lot width (feet): 33. d.  Maximum lot coverage (%): 50. e.  Minimum front setback (feet): 15. f.  Minimum rear setback (feet): 15. g.  Minimum interior side setback (feet): 5 (b) . h.  Minimum corner side setback (feet): 5. i.  Maximum height (feet): 35. Notes: (a)  The minimum lot area required to construct an "accessory apartment, detached" on a parcel containing one (1) single-family detached structure shall be four thousand, five hundred (4,500) square feet. (b)  For properties that are located within the city's 1945 corporate limits, 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 (also see Section 18-174(a)(6)). (c)  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 requirements. (Ord. No. O-2006-95, § 1, 10-3-06; Ord. No. O-2008-25, 4-8-08; Ord. No. O-2009-60, § 1, 7-7-2009; Ord. No. O-2010-75, §§ 11, 12, 10-5-10; Ord. No. O-2012-85, Exh. A, § 3, 12-4-12; Ord. No. O-2015-69, § 6, 9-1-15; Ord. No. O-2018-47, § 6, 6-19-18, eff. 3-1-2019; Ord. No. O-2019-6, § 6, 2-5-19)
Lot Frontage: 37
Lot Depth: 132
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Christopher Saba
Legal Description: PT W END 4 BLK 78

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,488 43,474 120,779
Median Age: 36.45 36.31 36.66
Households: 5,270 20,160 52,006

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