220 Castle street Triplex

Multi-Family for Sale
Catylist Listing ID: 30404294
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 3 Units
Building Size (RSF): 2,104 SF
Gross Land Area: 5,245 SF
Sale Price: $729,000
Unit Price: $243,000 Per Unit
Property Use Type: Investment
Building Name: 220 Castle
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Vacation Rental Income: Yes
Last Updated: 9/2/2021

Overview / Comments

Quaint Historic Triplex located near the popular Castle Street Antique and Arts district and within walking distance to downtown. This Triplex has been updated and is move-in ready. Unit A 856 SF consisting of a Two Bedroom, One Bath with a large living and kitchen area. Unit B is 699 SF with a One Bedroom, One Bath, comfortable living room with a nice kitchen/dining combo. Unit C, 549 SF is studio style with a full bath and kitchen. You can live in one unit and rent out the others. This property has a great income potential or could make a great living space for a family with space for other family members. Located close to arts, restaurants, business and within sight of Wilmington's historical downtown.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington and New Hanover County
Tax ID/APN: R05409-015-021-000
Zoning: R-3
Property Located Between: S 3rd and S 2nd Street
Highway Access: 74/76, MLK to I40 and Hwy 17.
Airports: ILM
Site Description: Historic downtown Wilmington.
Area Description: Mix of Residential and commercial
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1885
Year Renovated: 2015
Roof Type: Gable
Construction/Siding: Wood Frame
Exterior Description: Wood Siding and Metal Roof
Parking Type: Structure, Surface
Parking Description: Two car garage and 3 driveway spaces
Total Parking Spaces: 3
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit, Window Unit
Internet Access: Cable
Interior Description: This Triplex has been updated and is move-in ready. Unit A 856 SF consisting of a Two Bedroom One Bath with a large living and kitchen area. Unit B is 699 SF with a One Bedroom, One Bath, comfortable living room with a nice kitchen/dining combo. Unit C, 549 SF is studio style with a full bath and kitchen
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. (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.
Lot Frontage: 42
Lot Depth: 122
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Er Quiver Family LP
Legal Description: PT LTS 1/2 BLK 74 WILM

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,403 43,939 111,210
Median Age: 36.28 36.43 36.5
Households: 4,751 20,261 48,216

Contact

© 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.