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4916 Old Mears Road, Wilmington, NC 28403

$1,400,000
Property Type: Comm Sale or Lease Square Footage: 11,885 Lot Size (sq. ft.): 62,291 Status: Closed
Current Price: $1,400,000 List Date: 3/23/2018 Last Modified: 1/19/2026

Overview

Description

Investors Take Note, this is a rare opportunity to own 8 units close to UNCW. This sale consists of 4 parcels with 2 units on each parcel for a total of 8 units. 5 homes have 3 bedrooms/2 baths AND 3 homes have 4 bedrooms/3 baths. Units are at 100% occupancy rates. Tenants pay all utilities. The yearly rent roll totals 156,000 per year. These properties are professionally managed by Century 21 Sweyer Rentals. These properties are in demand by students because of their close proximity to UNCW.

Listing Details MLS# 100107136

Contract Info

Marketing Start Date
2018-03-23
Auction
No
Listing Price
1485000
List Price/SqFt
124.95
Stipulation of Sale
Standard

Location Information

Street #
4916
Street Name
Old Mears
Street Suffix
Road
County
New Hanover
State/Province
NC
Zip Code
28403
City Limits
Yes
Marketing City
Wilmington
Subdivision
Perry place
Secondary Subdivision
N/A

Remarks and Showing

Directions to Property
Heading on Wrightsville Avenue towards Downtown, turn right on McMillian Avenue, right on Maple Avenue, left on Old Mears, houses on the right.
Sign on Property
No

Building Info

New Construction
No

BuildingExt Features

SqFt - Heated (Primary)
11885

Legal and Taxes

Tax Assessed Value
178800
Deed Book
5992
Deed Page
457
Legal
LT 2R1 PERRY PLACE
Broker Owner
No
PID
313720.81.7223.000
Tax Identifier
R05519-005-003-000
Special Assessments
no
Tax Year
2017
Year Built
1997
Zoning
R-10
HOA
No
Cobra Zone
No
Plat Book
No
Plat Page
No

More Information

Status Change Info

Under Contract Date
2018-03-23
Sold Date
2018-05-17

Current Service Providers

Electric Provider
Duke Energy

Financial Info

Gross Income
156000
Total Annual Expenses
33500
Net Operating Income
122500
Cap Rate %
8.25
Real Estate Taxes
11000
Insurance Expense
11500

Building/Ext Features

# of Units
8
Lot Acres
1.43
Lot SqFt
62291
Lot Dimensions
irregular
SqFt - Apx Total
11885
Location Type
Mainland

Business Type

Other
Yes

HOA and Neigh Amenities

No Amenities
Yes

Basement

None
Yes

Construction

Wood Frame
Yes

Lot Water Features

None
Yes

Exterior Finish

Vinyl Siding
Yes

Terms

Cash
Yes
Conventional
Yes

Foundation

Crawl Space
Yes

Flooring

Carpet
Yes
Vinyl
Yes

Fuel Tank

None
Yes

Parking Features

Off Street
Yes

Sale/Lease Includes

See Remarks
Yes

Roof

Shingle
Yes

Road Type/Frontage

Public (City/Cty/St)
Yes

Cooling

Central Air
Yes

Location

Residential
Yes

Heating

Forced Air
Yes
Heat Pump
Yes

Water Heater

Electric
Yes

Utilities

Water Available
Yes

Water Source

Municipal Water
Yes

Sewer

Municipal Sewer
Yes

Property Features

Business Type: Other HOA and Neigh Amenities: No Amenities Basement: None Construction: Wood Frame Exterior Finish: Vinyl Siding Flooring: Carpet; Vinyl Foundation: Crawl Space Fuel Tank: None Parking Features: Off Street Roof: Shingle Location: Residential Lot Water Features: None Cooling: Central Air Heating: Forced Air; Heat Pump Water Heater: Electric Utilities: Water Available Sewer: Municipal Sewer Water Source: Municipal Water Terms: Cash; Conventional
Listing Office: Intracoastal Realty Corp
IDX
Last Updated: January - 19 - 2026
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