Catylist ID: #30726056
Topsail Island Duplex Revenue Machine
Multi-Family for Sale
|Catylist Listing ID:||30726056|
|Number of Units:||2 Units|
|Building Size (RSF):||1,632 SF|
|Gross Land Area:||0.12 Acres|
|Unit Price:||$243,000 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||1,832 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||66|
|Vacation Rental Income:||Yes|
Overview / Comments
Income producing duplex or House Hacking opportunity. Large corner lot and dedicated public beach access 300ft away. 7.8% Cap or 15.8% on a conventional levered return.
Duplex is comprised of a top and bottom unit with separate entrances, separate outdoor showers and each unit has a 2 bed 1 bath set up. New Roof in 2018 and New 200 sqft top deck built in 2021 with sound and beach views.
Buyer can self-manage or continue to utilize the property management firm; Carolina Stays, Inc. Whom continually produces and returns more and more revenues to the owner every year.
FINANCIALS: 2020 Gross Revenue: $62,336
-Wind/hail, fire, rent loss, liability: $1,538yr
**last year had 3 lost months of short term revenue due to COVID. Replaced short term tenants with 90 day renters at $2,600/month. Short term loss of rent approximately $5-$8K during the same period.
Currently booking and projecting rentals for the summer months in exceedance of the previous year. Nearby military installation allows for consistent volume of tenants even in the off season, or if one desires a long-term rental pro-forma.
|Taxing Authority:||Onslow County|
|Property Located Between:||Surf City US 50 Fixed Bridge and N. Topsail 210 Fixed Bridge|
|Highway Access:||HWY 210 or HWY 172|
|Site Description:||Corner lot, all grass, views of Beach and Sound|
|Area Description:||Eastern North Carolina Beach Community at Topsail Island|
|Total Number of Buildings:||1|
|Number of Stories:||2|
|Exterior Description:||Topsail Island Duplex|
|Total Parking Spaces:||4|
|Laundry:||In Each Unit|
|Heat Source:||Wall Units|
|Air Conditioning:||Package Unit, Other|
|Interior Description:||Full home furnishings for Short Term Renters|
|Zoning Description:||Medium High Residential Zone (12 units an Acre)|
|In Flood Plain?:||Yes|
|Legal Description:||Legal Description L7 S6 BA SEAHAVEN BEACH Township 114 - STUMP SOUND City Code 26 - NORTH TOPSAIL BEACH Jurisdiction 1426 - STUMP SOUND NORTH TOPSAIL BEACH Plat Book-Page/Subd # 03-089 Fire District NT - NORTH TOPSAIL|
|Proximity:||3 miles||5 miles|
Sean WalkerWicker Properties of the Carolinas, Inc. NCCMLS Member
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