Price Reduction
Address
208 N 12th Street Wilmington, NC
Price
$ 12,850,000
Property Attributes
  • MLS#100255884
  • TypeCommercial
  • CountyNEW HANOVER
  • CityWilmington
  • AreaNot In Subdivision
  • NeighborhoodWilmington
  • Zip28401
  • Style
  • Year Built1930
  • Taxes55014
  • Price$ 12,850,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size8.85 Acres
Listing Provided Courtesy Of:
Intracoastal Realty Corp
Data Source:
Cape Fear REALTORS
Property Description

Rare residential-rental investment opportunity available in Wilmington, North Carolina. Terra Property Portfolio is set up in 24 separate LLCs. The sale will include each LLC, Terra Property Holdings, LLC and the individual properties. There are Eighty-two (82) properties consisting of Ninety-two (92) rental units available within close proximately to downtown Wilmington. The portfolio consists of a combination of single-family homes, Duplex, Triplexes and Quadplexes. Properties are in close proximity of one another and most have access to public transportation. Many of the homes are of historic nature and are within established neighborhoods. The current owner oversees all the management of all Ninety-two (92) rental units. They have established a management and marketing program for the properties that can carry over to the new owner. The current owner utilizes a number of rent assistance programs and has many market-based tenants. The Wilmington rental market is very active and the demand for rental housing is extreme. The current owner continues to see the value of the portfolio but has other opportunities that have opened up this great opportunity for another investor. The current owner is happy to work with the new owner for a smooth ownership transition. The income, the improvements, and the growth potential make this a great investment.

Price History
2/8/2021 Listed $13,250,000
5/10/2021 4% - $12,850,000

General Features

Airport Less than 5 Miles
Basement None
City Limits Yes
Construction See Remarks
County New Hanover
Days on Market 91
Flooring See Remarks
HOA No
HOA Amenities See Remarks
Location See Remarks
New Construction No
Property Type G
Roof See Remarks
Status Active
Stipulation of Sale None
Sub-Type Other
Subdivision Not In Subdivision
Tax Year 2020
Terms 1031 Exchange, Cash, Conventional
Utilities See Remarks
Water Heater See Remarks
Year Built 1930
Zoning R-3, R-5 and UM

Interior Features

Attic None
Cooling System See Remarks
Heating Other-See Remarks

Exterior Features

Exterior Finish See Remarks
Lot Acres 8.85
Lot Description See Others
Lot Dimensions vary
Lot Water Feature None

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 28401

Price
AVG $1.3M
$12.85M
Taxes
AVG $6,683
$55,014
Visits
AVG 21
28
Year Built
AVG 1928
1930
Walkscore
AVG 69
74
Data Provided by Walkscore ® not using MLS data

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