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942 Bonham Avenue, Wilmington, NC 28403

$2,400,000
Property Type: Comm Sale or Lease Square Footage: 11,534 Lot Size (sq. ft.): 28,314 Status: Closed
Current Price: $2,400,000 List Date: 5/15/2025 Last Modified: 11/13/2025

Overview

Description

Bonham Bay Townhomes are conveniently located in the Mid-Town area of Wilmington North Carolina. This multifamily investment is currently 100% occupied. Bonham Bay Townhomes consists of 11 townhome units, all of which are approximately 1,000 square feet in size. Each unit has two bedrooms, two full bathrooms, powder room, private entry, outdoor patio, and off-street parking. The property is located close to Downtown Wilmington, UNCW, CFCC, Shopping, Entertainment, Medical Services, Public Transportation, Beaches and so much more. The current owners have upgraded the units, stabilized rents, and opened the opportunity to grow this investment. Property is currently managed professionally, and operations are turnkey for the next investor. The Multifamily zoning classification opens development opportunities. Complete financial information is available from the listing agent.

Listing Details MLS# 100507706

Contract Info

Available Date
2025-05-15
Delayed Marketing?
No
Marketing Start Date
2025-05-15
Sub-Type
Multi Family
Garage
N/A
Space
Yes
Sale/Lease
Sale
Listing Price
2450000
List Price/SqFt
212.42
Stipulation of Sale
Standard

Location Information

Street #
942
Street Name
Bonham
Street Suffix
Avenue
County
New Hanover
State/Province
NC
Zip Code
28403
City Limits
Yes
Subdivision
Highwood Park
Secondary Subdivision
N/A

Remarks and Showing

Directions to Property
From Downtown, take Wrightsville Avenue east. Turn left on Bonham and property is on the left. Park in non-numbered spots.
Sign on Property
No

Building Info

New Construction
No

BuildingExt Features

SqFt - Heated (Primary)
11534

Legal and Taxes

Tax Assessed Value
1166000
Total City Real Estate Property Tax
9852
Deed Book
6588
Deed Page
1324
Legal
Pt Bnhm Wilm 148.35X200X131
Broker Owner
No
PID
R05514-001-024-000
Tax Identifier
R05514-001-024-000
Total Real Estate Property Taxes
10144.2
Special Assessments
none
Tax Year
2024
Year Built
1991
Zoning
MD-17
HOA
No
Cobra Zone
No
Federal Flood Ins Avlbl
Yes
Plat Book
No
Plat Page
No

More Information

Status Change Info

Under Contract Date
2025-06-17
Sold Date
2025-11-13

Miscellaneous

Occupancy
100
Current Use
Rental Residential

Current Service Providers

Trash Provider
City of Wilmington
Electric Provider
Duke Progress Energy
Internet Service Provider(s)
Spectrum
Sewer Provider
Cape Fear Public Utility Authority
Water Provider
Cape Fear Public Utility Authority

Financial Info

Financial Info
Yes
Gross Income
209880
Total Annual Expenses
37341
Net Operating Income
172539
Cap Rate %
7
Real Estate Taxes
11677
Insurance Expense
14210
Management Fee
15664
Common Area Maint
4500

Building/Ext Features

# of Parking Spaces
25
# of Units
11
Lot Acres
0.65
Lot SqFt
28314
Lot Dimensions
149 x 200 x 133 x 201
SqFt - Total Available
5796
Location Type
Mainland

Showing Instructions

Special Instructions
Yes

Business Type

Other
Yes

Current Use

Multi-Family
Yes

HOA and Neigh Amenities

No Amenities
Yes

Attic

Access Only
Yes

Basement

None
Yes

C & I Features

See Remarks
Yes

Construction

Wood Frame
Yes

Lot Water Features

None
Yes

Exterior Finish

Brick Veneer
Yes
Vinyl Siding
Yes

Terms

1031 Exchange
Yes
Cash
Yes
Conventional
Yes

Foundation

Slab
Yes

Flooring

Carpet
Yes
Laminate
Yes
Tile
Yes

Fuel Tank

None
Yes

Green Bldg Features

None
Yes

Parking Features

Asphalt
Yes
Off Street
Yes
Parking Lot
Yes
Private
Yes

Sale/Lease Includes

Buildings
Yes
Land
Yes
See Remarks
Yes

Roof

Metal
Yes

Road Type/Frontage

2 - 3 Lanes
Yes

Road/Trans Access

Airport
Less than 5 Miles
County Highway
Less than 5 Miles
Interstate
Less than 5 Miles
Port
6 - 10 Miles
Rail
6 - 10 Miles
State Highway
6 - 10 Miles

Cooling

Central Air
Yes

Location

Residential
Yes
See Remarks
Yes

Heating

Heat Pump
Yes

Heating System Fuel Source

Electric
Yes

Water Heater

Electric
Yes

Utilities

Water Available
Yes

Water Source

Municipal Water
Yes

Sewer

Municipal Sewer
Yes

Lease Types

See Remarks
Yes

Property Features

Business Type: Other Showing Instructions: Special Instructions HOA and Neigh Amenities: No Amenities Attic: Access Only Basement: None Construction: Wood Frame Exterior Finish: Brick Veneer; Vinyl Siding Flooring: Carpet; Laminate; Tile Foundation: Slab Fuel Tank: None Green Bldg Features: None Parking Features: Asphalt; Off Street; Parking Lot; Private Roof: Metal Current Use: Multi-Family Location: Residential; See Remarks Lot Water Features: None Cooling: Central Air Heating: Heat Pump Heating System Fuel Source: Electric Water Heater: Electric Utilities: Water Available Sewer: Municipal Sewer Water Source: Municipal Water Terms: 1031 Exchange; Cash; Conventional Lease Types: See Remarks
Listing Office: Intracoastal Realty Corp
IDX
Last Updated: November - 13 - 2025
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