Topsail Island Duplex Revenue Machine

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30726056
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 2 Units
Building Size (RSF): 1,632 SF
Gross Land Area: 0.12 Acres
Sale Price: $486,000
Unit Price: $243,000 Per Unit
Property Use Type: Investment
Usable Size (USF): 1,832 SF
Sale Terms: Cash to Seller
Average Occupancy Rate: 69
Vacation Rental Income: Yes
Last Updated: 10/12/2021

Overview / Comments

Income producing duplex or House Hacking opportunity. Large corner lot and dedicated public beach access 300ft away.

Duplex is comprised of a top and bottom unit with separate entrances, separate outdoor showers and each unit has a 2 bed 1 bath layout. New Roof in 2018, 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 for short term rentals and high annual rents ($89k gross YTD in 2021).

Nearby military installation and high beach demand allows for consistent volume of tenants even in the off season, or if one desires a long-term rental pro-forma. Currently operated as short term rental property.

Additional Details

Nearest MSA: Jacksonville
County: Onslow
Taxing Authority: Onslow County
Tax ID/APN: 425616947661
Zoning: MHR-MHR
Percent Occupied: 70%
Property Located Between: Surf City US 50 Fixed Bridge and N. Topsail 210 Fixed Bridge
Highway Access: HWY 210 or HWY 172
Airports: ILM
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
Property Condition: Average
Number of Stories: 2
Year Built: 1977
Year Renovated: 2018
Construction/Siding: Vinyl Siding
Exterior Description: Topsail Island Duplex
Parking Type: Surface
Parking Description: Gravel
Total Parking Spaces: 4
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Wall Units
Fuel: Electric
Air Conditioning: Package Unit, Window Unit, Other
Internet Access: Cable
Interior Description: Full home furnishings for Short Term Renters
Zoning Description: Medium High Residential Zone (12 units an Acre)
In Flood Plain?: Yes
Lot Frontage: 50
Lot Depth: 100
Water Service: Municipal
Sewer Type: Municipal
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

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,035 4,757
Median Age: 46.18 38.83
Households: 542 2,056
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