905 Rankin Street, Wilmington, NC 28401 (MLS# 100279692)

905 Rankin Street, Wilmington, NC 28401

$1,599,000

Property Type: Multi-Family Bedrooms: 6 Baths: 2 Square Footage: 1,974 Lot Size (sq. ft.): 2,178 Status: Closed

Current Price: $1,599,000 List Date: 7/05/2021 Last Modified: 4/21/2022

Overview

Description

-2 Single family - 2 duplexes - 25 total rooms - 33 tenants Address are 718 Church, 720 Church, 905 Rankin A&B, 708 Campbell Street A&B Brings in over 14k a month - NOI is about 11k PLUS (these numbers can easily go up with our management!) Owner is currently raising them and will be even higher before closing Very rare opportunity with letters from the city permitting 'Rooming houses'' which holds tremendous value! There is a huge wait list for tenants wanting to get in along with companies such as trillium and sec 8. Could also be a half way house play, senior living etc which usually rents even higher per room. Roofs are all under 4 years old. Hvacs are all under warranty and the properties have new floors and paint Windows have been upgraded. With proof of funds can provide all financials.

Listing Details MLS# 100279692

Contract Info

Marketing Start Date: 2021-07-05
Sub-Type: Duplex
Auction: No
Listing Price: 1699000
List Price/SqFt: 860.69
Stipulation of Sale: Standard

Location Information

Street #: 905
Street Name: Rankin
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: 3rd St heading West to Redcross St turn rt, Redcross turns into Rankin , unit on the corner of Rankin & Anderson
Sign on Property: No

Building Info

New Construction: No

Property ExteriorInterior Info

# Bedrooms: 6
SqFt - Heated (Primary): 1974

Legal and Taxes

Tax Assessed Value: 88300
Deed Book: 1377
Deed Page: 828
Legal: BLK 240 PT W 5 WILMINGTON
Broker Owner: No
PID: R04813022009001
Tax Identifier: R04813-022-009-001
Total Real Estate Property Taxes: 1057.61
Special Assessments: NONE
Tax Year: 2020
Year Built: 1920
Zoning: R-3
HOA: No
Cobra Zone: No
Elementary School: Williams
Middle School: Virgo
High School: New Hanover

More Information

Status Change Info

Under Contract Date: 2021-07-27
Sold Date: 2021-11-09

Property Features

Construction: See Remarks Exterior Features: None Exterior Finish: See Remarks Fencing: None Foundation: Crawl Space Fuel Tank: None Parking Features: Paved Patio and Porch Features: See Remarks Roof: Shingle Cooling: Other Heating: Other Interior Features: None HOA and Neigh Amenities: No Amenities Terms: Cash; Conventional

IDX

Listing Office: Keller Williams Innovate-Wilmington

Last Updated: April - 21 - 2022

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