Wilmington Duplex For Sale: A Very Rare Investment Opportunity
If you are in the market for a unique investment opportunity, look no further than this Wilmington duplex for sale. What makes this property truly exceptional is its legalized boarding houses setup, a rarity in the real estate market. With a package consisting of two single-family homes and two duplexes, this property offers a total of six units and 25 rooms. The addresses include 718 Church, 720 Church, 905 Rankin A&B, and 708 Campbell Street A&B.
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One of the most enticing aspects of this property is its remarkable earning potential. Generating over $16,000 in monthly income, this investment opportunity is a goldmine waiting to be tapped. What sets it apart from other properties is the fact that it comes with letters from the city permitting “rooming houses.”This legal status holds tremendous value and ensures a smooth operation for the new owner.
The demand for housing in Wilmington is incredibly high, and there is a substantial waitlist of potential tenants eager to secure a room in this property. Notably, renowned companies such as Trillium and Section 8 have expressed interest in leasing these units. Additionally, this property could also serve as a halfway house or senior living facility, potentially commanding even higher rental rates per room.
Several recent upgrades have been made to the property, making it an attractive prospect for potential buyers. The roofs of all the buildings are less than six years old, ensuring durability and minimal maintenance costs in the near future. Furthermore, the HVAC systems are still under warranty, providing peace of mind to the new owner. In recent years, the properties have also received new floors and fresh coats of paint, enhancing their appeal and increasing their value. Additionally, the windows have been upgraded, further improving the property’s energy efficiency and aesthetics.
For serious buyers with proof of funds, the sellers are willing to provide all financials related to the property. This transparency will allow potential buyers to make informed decisions and assess the property’s profitability accurately.
In conclusion, this Wilmington duplex for sale presents an incredibly rare investment opportunity. Its legalized boarding houses setup, combined with the high demand for rental properties in the area, makes it an attractive prospect for investors. With recent upgrades and a strong rental income stream, this property is primed to deliver excellent returns. Don’t miss out on this chance to own a valuable piece of real estate in Wilmington. Contact the sellers today to arrange a viewing and explore this exceptional investment opportunity.
905 Rankin Street, Wilmington, NC 28401