621 N 11th Street, Wilmington, NC 28401 (MLS# 100427097)

621 N 11th Street, Wilmington, NC 28401

$3,975,000

Property Type: Comm Sale or Lease Status: Closed

Current Price: $3,975,000 List Date: 2/12/2024 Last Modified: 1/01/2025

Overview

Description

20 door portfolio consisting 14, 3 bedrooms. and 6, 2 bedrooms. Currently has a rental income amount of $332,928. All rents are currently below market value by a large amount. Fair market value with approved government funded numbers ready for rent increases puts the pro forma at a rental income amount of $482,400. All utilities are in the tenants name. Reach out and we can provide you with rent roll, and approved s8 government funded worksheet.

Listing Details MLS# 100427097

Contract Info

Available Date: 2024-02-12
Delayed Marketing?: No
Marketing Start Date: 2024-02-12
Sub-Type: Multi Family
Garage: N/A
Sale/Lease: Sale
Listing Price: 4499800
Stipulation of Sale: Standard

Location Information

Street #: 621
Pre Direction: N
Street Name: 11th
Street Suffix: Street
County: New Hanover
State/Province: NC
Zip Code: 28401
City Limits: Yes
Subdivision: Not In Subdivision
Secondary Subdivision: N/A

Remarks and Showing

Directions to Property: South on Market Street towards downtown. Right onto 23rd St. Left onto Princess Place Drive, Right onto N 11th St, Continue on King St, property is on the corner of King and Wynnwood St.
Sign on Property: No

Building Info

New Construction: No

Legal and Taxes

Tax Assessed Value: 89200
Deed Book: 6350
Deed Page: 634
Legal: Lot 8 Blk 5 Love Grove
Broker Owner: No
PID: R04806-002-008-000
Tax Identifier: R04814-010-018-000
Plat Book: 00
Plat Page: 00
Total Real Estate Property Taxes: 753.74
Special Assessments: None
Tax Year: 2023
Year Built: 1948
Zoning: R-3
Cobra Zone: No

Status Change Info

Under Contract Date: 2024-11-27
Sold Date: 2024-12-30

More Information

Property Features

Current Use: Multi-Family Lot Water Features: None Heating System Fuel Source: Electric Terms: 1031 Exchange; Cash; Conventional

IDX

Listing Office: Keller Williams Innovate-Wilmington

Last Updated: January - 01 - 2025

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