Updated Historic Quadraplex near new Riverfront Amphitheater

Multi-Family for Sale
Catylist Listing ID: 30768322
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 4,253 SF
Gross Building Area: See Agent
Gross Land Area: 0.20 Acres
Sale Price: $1,300,000
Unit Price: $325,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Last Updated: 11/22/2021

Overview / Comments

Investors take note! Beautifully remodeled Quadraplex within a few blocks from the new Live Nation Riverfront Amphitheater in Wilmington. Great income potential as a short term rental machine or a more hands off approach with long term residential rentals or offices. The blend of historic charm and modern amenities will contribute toward maximizing profits. Three units have just been updated with refinished hardwood flooring, granite countertops, new cabinets and vanities, stainless steel appliances. The building previously underwent full renovation and addition, all to commercial construction standards, including all separately metered utilities. Each of the four 2 bedroom 1 bath units feature oversized windows for lots of natural light, private rear entrances, spacious bedrooms, ample closet space, off street parking, and a laundry room. Tenants can enjoy the shaded porches on both sides as well as the private back yard. CBD zoning and rear lot space allow for potential to double the unit count and still keep off street parking. Buyer to confirm. Just out back is the 1898 memorial park, which makes a great neighbor. Additionally this location offers incredible walk-ability to some of Downtown Wilmington's best attractions including; Cape Fear Community College, PPD corporate headquarters, Live Oak Bank Pavilion, The Wilson Center, the Brooklyn arts district (a vibrant and growing area with restaurants, shopping, bars, and music), the Port City Marina, the Wilmington Downtown Riverfront, and much more. The history of this area is as fascinating as its' future is bright. Here is your chance to own a solid income generator in the heart of one of the most exciting continuous urban transformations in America.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: Wilmington, NC
Tax ID/APN: R04809-036-017-000
Zoning: CDB
Percent Occupied: 25%
Property Located Between: 3rd St and North 4th St.
Highway Access: HWY 17, I-140, HWY 74/76
Airports: ILM
Site Description: Urban city blocks with mix of historic and modern buildings
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 1920
Year Renovated: 2021
Construction/Siding: Vinyl Siding
Parking Type: Other
Parking Description: on street or off street via alley way off Davis St. to rear of lot.
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Gas, Electric
Air Conditioning: Engineered System
Internet Access: Cable
Zoning Description: Central Business District
Lot Frontage: 48
Lot Depth: 194
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress
Easements Description: ingress/ egress to rear of lot via alley way off of Davis St.
Land Ownership: owned
Legal Description: Wm Pt 3/4/5/ Blk 305

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,432 36,651 101,727
Median Age: 36.1 35.72 35.82
Households: 2,556 16,590 43,777


Photograph of Listing Agent

Kenneth Fisher, III

RE/MAX Essential NCCMLS Member
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