For Sale
$1,162,000

619 11Th StWilmington, NC 28401

Five Single-Family Homes, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a portfolio of five single-family homes located in Wilmington, North Carolina, within the city limits at 619 S 11th St, zip code 28401. Currently operating at 100% occupancy, the portfolio generates a substantial annual rental income of $82,800, with tenants responsible for all utilities. The properties are classified as Class C multifamily and are offered at an attractive asking price of $1,162,000, representing a 6.00% cap rate. This presents a compelling opportunity for investors seeking immediate cash flow. The portfolio's strong performance and high occupancy rate offer stability and potential for future growth. The existing properties provide a solid foundation for continued rental income, while also presenting the potential for value enhancement through renovations or strategic remarketing to increase profitability. This is an ideal investment for those seeking a turnkey multifamily portfolio in a desirable location. The properties are situated in New Hanover County, offering convenient access to local amenities and services. The portfolio's consistent performance and strong rental income make it an attractive investment opportunity with significant upside potential. This is a rare chance to acquire a well-maintained, high-performing portfolio in a thriving market.

Highlights

  • Five single-family homes in Wilmington, NC (28401) at 619 S 11th St.
  • 100% occupancy generating $82,800 annual rental income; tenants pay all utilities.
  • Class C multifamily portfolio priced at $1,162,000, offering a 6.00% cap rate.
  • Turnkey investment with potential for value enhancement through renovations or remarketing.
  • Located in New Hanover County, offering convenient access to local amenities.

Property Details for 619 11Th St

Property type
Residential income homes
Class
C
Units
5

Location Insight

City
Wilmington
County
New Hanover
State
North Carolina
Latitude
34.2280285
Longitude
-77.9342193
619 11Th St, Wilmington, North Carolina

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619 11Th St
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