For Sale
$1,999,900

3605 Caswell St Wilmington, NC 28403

Midtown NC, 3-unit townhome package.

Overview

Added:
Dec 11, 2024
Days on market:
136
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
Commercial real estate
Year Built
2024
Stories
2
Units
3

Location Insight

City
Wilmington
County
New Hanover
State
North Carolina
Latitude
34.2207409
Longitude
-77.89995

FAQs

What type of property is this?
Commercial real estate - Midtown NC, 3-unit townhome package.
Where is the commercial real estate located?
The property is located at 3605 Caswell St Wilmington, NC.
What is the asking price?
The asking price for this property is $1,999,900.
What are key features of this property?
This property features: 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
How can I contact the broker?
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3605 Caswell St
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