Property Type:
Multi-Family
Bedrooms:
35
Baths:
19
Square Footage:
13,104
Lot Size (sq. ft.):
104,631
Status:
Pending with Showings
Current Price:
$2,800,000
List Date:
11/25/2025
Last Modified:
3/05/2026
Overview
Description
Unlock a rare opportunity to own a well-performing multifamily property on a single parcel in a highly sought-after Wilmington neighborhood, currently cash flowing over $20,000 per month with three vacancies being filled that will push rents closer to $25,000, and with plenty of room to increase rents further. Amazing investment opportunity on this home with income potential for years. Each property has recently had up to $30,000 worth of updates that have brought it up to today's market standards. Step inside to discover modern finishes, refreshed interiors, and thoughtful upgrades that enhance comfort and appeal to long-term tenants. With strong rental demand in the area, this property offers consistent cash flow and room for appreciation. Whether you're expanding your portfolio or entering the market for the first time, this turnkey home stands ready to perform. Featuring a diverse mix of units from duplexes to quadplexes, the property has undergone significant renovations—over half completed—positioning its current value between $3.8M and $3.9M, with an appraised ''as repaired'' value of $4.5M and a recent ''as is'' appraisal of $3.2M at purchase. For developers, drafted plans to replace existing structures with new construction townhomes estimate a post-build value of around $10M with only about $3M in construction costs, presenting massive upside. This is a standout multifamily investment offering immediate income, undeniable value-add potential, and long-term redevelopment opportunity in one of the region's most promising markets.
Last Updated: March - 05 - 2026
Copyright 2024 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.
