3605 Caswell StWilmington, NC 28403

Property Details for 3605 Caswell St

Year built

2024

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Wilmington

County

New Hanover

State

North Carolina

Latitude

34.2207

Longitude

-77.8999

FAQs

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