Wilmington Duplex For Sale: A Rare Investment Opportunity
If you’re on the lookout for a unique real estate investment opportunity, look no further than this Wilmington duplex for sale. What sets this property apart is its very rare legalized boarding houses setup, which holds tremendous value in today’s market. The package consists of two single-family homes and two duplexes, offering a total of six units and 25 rooms. The addresses include 718 Church, 720 Church, 905 Rankin A&B, and 708 Campbell Street A&B.
One of the key features that make this property an attractive investment is its potential rental income. Currently, the property generates over $16,000 per month, a figure that speaks volumes about its profitability. Moreover, the property has obtained official letters from the city permitting the operation of “Rooming houses,”which adds even more value to this rare opportunity.
The demand for housing in Wilmington is high, and this property benefits from a significant waitlist of potential tenants, including reputable companies like Trillium and Section 8. Additionally, the property lends itself to various possibilities, such as a halfway house, senior living facility, or other similar ventures. These types of accommodations typically command even higher rental rates per room, making this property even more enticing for investors.
Maintenance and renovations have been diligently carried out on this property. The roofs of all the buildings are less than six years old, ensuring protection against the elements for years to come. The HVAC systems are all under warranty, providing peace of mind to the new owner. Furthermore, the properties have been updated with new floors and fresh paint over the past couple of years, giving them a modern and appealing aesthetic. The windows have also been upgraded, enhancing energy efficiency and overall comfort for tenants.
For serious investors, detailed financial information is available upon request, provided the interested party can demonstrate proof of funds. This transparency allows potential buyers to make informed decisions and gain a comprehensive understanding of the property’s financial performance.
Investment opportunities like this do not come around often. The combination of a rare legalized boarding houses setup, high rental income, and tremendous demand make this Wilmington duplex an attractive prospect for investors. With its updated features and meticulous maintenance, this property is ready to start generating income from day one. Don’t miss out on this exceptional chance to secure a valuable asset in the thriving Wilmington real estate market.
905 Rankin Street, Wilmington, NC 28401