605-609 Nixon Street, Wilmington, NC 28401 (MLS# 100443909)

605-609 Nixon Street, Wilmington, NC 28401

$2,350,000

Property Type: Multi-Family Bedrooms: 36 Baths: 12 Square Footage: 12,000 Lot Size (sq. ft.): 30,492 Status: Closed

Current Price: $2,350,000 List Date: 5/10/2024 Last Modified: 11/25/2024

Overview

Description

Presenting 605, 607 and 609 Nixon St. in Downtown Wilmington, consisting of 12 units across three quadruplex condominiums on +/- .70 acres. Each unit contains three bedrooms and one full bath, plus recent renovations including granite counter tops in the kitchens and bathrooms, laminate flooring throughout and tile flooring in the bathrooms. The downstairs units feature fenced patios with outdoor storage closets while the upstairs units have covered balconies with outdoor storage closets. Rents on five of the units are subsidized with housing vouchers through the Wilmington Housing Authority. The Housing Authority recently approved a currently vacant unit for an 18% rent increase, the seller is in the process of having three others approved at the same rate. The opportunity for future similar increases on the remaining units at lease renewal and turnover provides a generous value add. The tenants are responsible for electric, water, sewer and cable. The property is located adjac ... (Read more)

Listing Details MLS# 100443909

Contract Info

Delayed Marketing?: No
Marketing Start Date: 2024-05-10
Sub-Type: Quadruplex
Listing Price: 2390000
List Price/SqFt: 199.17
Stipulation of Sale: Standard

Location Information

Street #: 605-609
Street Name: Nixon
Street Suffix: Street
County: New Hanover
State/Province: NC
Zip Code: 28401
City Limits: Yes
Marketing City: Wilmington
Subdivision: Downtown
Secondary Subdivision: N/A

Remarks and Showing

Directions to Property: N 4th St to Nixon St, property on the left
Sign on Property: No

Building Info

New Construction: No

Property ExteriorInterior Info

# Bedrooms: 36
SqFt - Heated (Primary): 12000

Legal and Taxes

Tax Assessed Value: 900000
Deed Book: 6437
Deed Page: 2455
Legal: Multipe Condos
Broker Owner: No
PID: Multiple Condos
Tax Identifier: R04809-013-008-000
Plat Book: 16
Plat Page: 213
Special Assessments: None
Tax Year: 2023
Year Built: 1988
Zoning: R-3
HOA: No
Cobra Zone: No
Elementary School: Snipes
Middle School: Williston
High School: New Hanover

More Information

Status Change Info

Under Contract Date: 2024-07-11
Sold Date: 2024-11-25

Property Features

Construction: Wood Frame Exterior Features: Cluster Mailboxes Exterior Finish: Brick Veneer; Vinyl Siding Fencing: Partial; Wood Foundation: Slab Fuel Tank: None Parking Features: Lighted; Off Street; On Site; Parking Lot; Paved Patio and Porch Features: Balcony; Patio Roof: Architectural Shingle Levels: Two Cooling: Central Air Heating: Forced Air; Heat Pump Heating System Fuel Source: Electric Water Heater: Electric Interior Features: Ceiling Fan(s); Wash/Dry Connect Terms: Cash; Conventional

IDX

Listing Office: Nest Realty

Last Updated: November - 25 - 2024

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