942 Bonham Avenue, Wilmington, NC 28403 (MLS# 100507706)

942 Bonham Avenue, Wilmington, NC 28403

$2,400,000

Virtual Tour

https://sites.uniquemediadesign.com/942bonhamavenue?mls

Property Type: Comm Sale or Lease Square Footage: 11,534 Lot Size (sq. ft.): 28,314 Status: Closed

Current Price: $2,400,000 List Date: 5/15/2025 Last Modified: 5/20/2026

Overview

Description

Bonham Bay Townhomes are conveniently located in the Mid-Town area of Wilmington North Carolina. This multifamily investment is currently 100% occupied. Bonham Bay Townhomes consists of 11 townhome units, all of which are approximately 1,000 square feet in size. Each unit has two bedrooms, two full bathrooms, powder room, private entry, outdoor patio, and off-street parking. The property is located close to Downtown Wilmington, UNCW, CFCC, Shopping, Entertainment, Medical Services, Public Transportation, Beaches and so much more. The current owners have upgraded the units, stabilized rents, and opened the opportunity to grow this investment. Property is currently managed professionally, and operations are turnkey for the next investor. The Multifamily zoning classification opens development opportunities. Complete financial information is available from the listing agent.

Listing Details MLS# 100507706

Contract Info

Available Date: 2025-05-15
Delayed Marketing?: No
Marketing Start Date: 2025-05-15
Sub-Type: Multi Family
Garage: N/A
Space: Yes
Sale/Lease: Sale
Listing Price: 2450000
List Price/SqFt: 212.42
Stipulation of Sale: Standard

Location Information

Street #: 942
Street Name: Bonham
Street Suffix: Avenue
County: New Hanover
State/Province: NC
Zip Code: 28403
City Limits: Yes
Subdivision: Highwood Park
Secondary Subdivision: N/A

Remarks and Showing

Directions to Property: From Downtown, take Wrightsville Avenue east. Turn left on Bonham and property is on the left. Park in non-numbered spots.
Sign on Property: No

Building Info

New Construction: No

BuildingExt Features

SqFt - Heated (Primary): 11534

Legal and Taxes

Tax Assessed Value: 1166000
Total City Real Estate Property Tax: 9852
Deed Book: 6588
Deed Page: 1324
Legal: Pt Bnhm Wilm 148.35X200X131
Broker Owner: No
PID: R05514-001-024-000
Tax Identifier: R05514-001-024-000
Total Real Estate Property Taxes: 10144.2
Special Assessments: none
Tax Year: 2024
Year Built: 1991
Zoning: MD-17
HOA: No
Cobra Zone: No
Federal Flood Ins Avlbl: Yes

More Information

Status Change Info

Under Contract Date: 2025-06-17
Sold Date: 2025-11-13

Miscellaneous

Occupancy: 100
Current Use: Rental Residential

Current Service Providers

Trash Provider: City of Wilmington
Electric Provider: Duke Progress Energy
Internet Service Provider(s): Spectrum
Sewer Provider: Cape Fear Public Utility Authority
Water Provider: Cape Fear Public Utility Authority

Financial Info

Financial Info: Yes
Gross Income: 209880
Total Annual Expenses: 37341
Net Operating Income: 172539
Cap Rate %: 7
Real Estate Taxes: 11677
Insurance Expense: 14210
Management Fee: 15664
Common Area Maint: 4500

Property Features

Business Type: Other Showing Instructions: Special Instructions HOA and Neigh Amenities: No Amenities Attic: Access Only Basement: None Construction: Wood Frame Exterior Finish: Brick Veneer; Vinyl Siding Flooring: Carpet; Laminate; Tile Foundation: Slab Fuel Tank: None Green Bldg Features: None Parking Features: Asphalt; Off Street; Parking Lot; Private Roof: Metal Current Use: Multi-Family Location: Residential; See Remarks Lot Water Features: None Cooling: Central Air Heating: Heat Pump Heating System Fuel Source: Electric Water Heater: Electric Utilities: Water Available Sewer: Municipal Sewer Water Source: Municipal Water Terms: 1031 Exchange; Cash; Conventional Lease Types: See Remarks

IDX

Listing Office: Intracoastal Realty Corporation

Last Updated: May - 20 - 2026

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