For Sale
$1,999,900

3605 Caswell StWilmington, NC 28403

Midtown NC, 3-unit townhome package.

Overview

Added:
Dec 11, 2024
Days on market:
114
Investors and homeowners, take note! This exceptional opportunity presents a brand-new, three-unit luxury townhome development in Wilmington, North Carolina's vibrant midtown area. Designed by renowned architect Rob Romero, this modern industrial-style triplex boasts high-end finishes and a prime location, just steps from Empie Park and Independence Mall. Each unit offers approximately 1700 square feet of living space, featuring three bedrooms, two bathrooms, a studio/recreation room, a garage, and a private rooftop deck. The property is situated on a quiet cul-de-sac, offering convenient access to downtown Wilmington, the University of North Carolina Wilmington, and area beaches (within 5-10 minutes). This multifamily investment presents multiple income streams: live in one unit and rent the others, rent all three, or convert to condos for future individual sales. The asking price is $1,999,900, representing a pro-forma cap rate of 10% and a pro-forma NOI of $200,000. Each unit is priced at $666,633.33. Built in 2024, this two-story building offers significant potential for immediate equity and strong rental returns, whether utilized for short-term, mid-term, or long-term rentals. Incentive packages may be available to assist with closing costs and financing. This is a truly unique opportunity to acquire a turnkey, high-value property in a desirable location.

Highlights

  • Asking Price: $1,999,900
  • Property Type: Brand new, three-unit luxury townhome triplex in Wilmington, NC
  • Pro Forma Cap Rate: 10.00% and Pro Forma NOI: $200,000
  • Each unit features approximately 1700 sq ft, 3 bedrooms, 2 baths, a studio/rec room, garage, and rooftop deck.
  • Prime midtown location near Empie Park, Independence Mall, downtown Wilmington, the University of North Carolina Wilmington, and beaches.

Property Details for 3605 Caswell St

Property type
Year Built
2024
Stories
2
Units
3

Location Insight

City
Wilmington
County
New Hanover
State
North Carolina
Latitude
34.2207409
Longitude
-77.89995
3605 Caswell St, Wilmington, North Carolina

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3605 Caswell St
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