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1002 Grace Street

Wilmington, NC 28401
  • $999,000
  • STATUS: Active
  • ON SITE: 68 Days
  • MLS #: 100292066
UPDATED: 18 min ago
$999,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,990
    SQFT
  • $167
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1956
County:
Area:

School Ratings & Info

Description

Fully rented 7 unit apartment building in up and coming area of downtown Wilmington. New roof in 2016 - 30 year architectural shingles; HVAC's all good with one new in 2019 and two new in 2020. This heat and air conditioning system is efficient and inexpensive to run. A pump supplies water from a well for the heat and air conditioning. There are three 3 bedroom 1 bath units and four 2 bedroom 1 bath units. Almost 100% occupancy in the past 6 years. Long term tenants. Super easy to fill if there is a vacancy. Potential to raise the rent. Easily add a washer and dryer to the basement for additional income. This property has been a great income producing property for the seller for many years. Take note it is located across the street from Portia Mills Hines Park. Ask for financials.

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© 2021 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. Data last updated 2021-12-02T07:57:39.46.
www.ncbeachrealtygroup.com/homes/121765172
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1002 Grace Street Wilmington, NC 28401

  • Price: $999,000
  • Status: Active
  • On Site: 68 Days
  • Updated: 18 min ago
  • MLS #: 100292066
0
Beds
0
Baths
0
½ Baths
0.25
Acres
5,990
SQFT
$167
$/SQFT
1956
Built
Neighborhood:
Not In Subdivision
County:
New Hanover
Area:
Wilmington
Property Description
Fully rented 7 unit apartment building in up and coming area of downtown Wilmington. New roof in 2016 - 30 year architectural shingles; HVAC's all good with one new in 2019 and two new in 2020. This heat and air conditioning system is efficient and inexpensive to run. A pump supplies water from a well for the heat and air conditioning. There are three 3 bedroom 1 bath units and four 2 bedroom 1 bath units. Almost 100% occupancy in the past 6 years. Long term tenants. Super easy to fill if there is a vacancy. Potential to raise the rent. Easily add a washer and dryer to the basement for additional income. This property has been a great income producing property for the seller for many years. Take note it is located across the street from Portia Mills Hines Park. Ask for financials.
Exterior Features

Construction Wood Frame Exterior Finish BrickStuccoWood Siding Location CornerSee Remarks Location Type Mainland Lot Description Corner Lot Lot Dimensions 165X66 Number Of Parking Spaces 5 Parking Driveway Off Street Road Type Frontage MaintainedPublic (City/Cty/St)

Interior Features

Basement Outside Entrance Cooling System Central Heating System Other-See Remarks Sq Ft Apx Total 5990.00

Property Features

Airport Less Than 5 Miles Auction No City Limits Yes Cobra Zone No Commercial Sub Type Other Common Area Maintenance 0.00 County Taxes 4024.82 Financial Info Yes Hoa YN No Insurance Expense 350.00 Interstate Less Than 5 Miles Management Fee 0.00 Net Operating Income 74301.00 New Construction No Port Less Than 5 Miles Possession At ClosingSubject To Tenant Rights Property Taxes 2620.86 Real Estate Taxes 2620.86 Sale Lease Includes See Remarks Sale Or Lease Sale Secondary Subdivision N/A Stipulation Of Sale None Tax Year 2021 Terms 1031 ExchangeCashConventional Total Annual Expenses 11371.00 Water Sewer Municipal SewerMunicipal Water Zoning R-5



Listing information © 2021 NCRMLS
Listing provided courtesy of Cynthia W Wilkinson of Century 21 Sweyer & Associates - Landfall.


© 2021 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. Data last updated 2021-12-02T07:57:39.46.
 
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407 Atlantic Beach Causeway, Suite 6F
Atlantic Beach NC, 28512