619 11Th StWilmington, NC 28401

Property Details for 619 11Th St

Property type

Investment properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Wilmington

County

New Hanover

State

North Carolina

Latitude

34.228

Longitude

-77.9342

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