942 Bonham Avenue, Wilmington, NC 28403
$2,450,000
Property Type:
Comm Sale or Lease
Square Footage:
11,534
Lot Size (sq. ft.):
28,314
Status:
Active
Current Price:
$2,450,000
List Date:
5/15/2025
Last Modified:
5/15/2025
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.
More Information MLS# 100507706
Contract Info
Available Date: 2025-05-15
Status: Active
Delayed Marketing?: No
Marketing Start Date: 2025-05-15
Sub-Type: Multi Family
Garage: N/A
Space: Yes
Sale/Lease: Sale
Listing Price: 2450000
Current Price: $2,450,000
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
Geo Lat: 34.220395
Geo Lon: -77.893971
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
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
Listing Office: Intracoastal Realty Corp
Last Updated: May - 15 - 2025
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