$2,390,000 $12,467 est/mo Sourced by Back At You

605-609 Nixon Street,Wilmington, NC 28401

Wilmington NC, 28401

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Description

Presenting 605, 607 and 609 Nixon St. in Downtown Wilmington, consisting of 12 units across three quadruplex condominiums on +/- .70 acres. Each unit contains three bedrooms and one full bath, plus recent renovations including granite counter tops in the kitchens and bathrooms, laminate flooring throughout and tile flooring in the bathrooms. The downstairs units feature fenced patios with outdoor storage closets while the upstairs units have covered balconies with outdoor storage closets. Rents on five of the units are subsidized with housing vouchers through the Wilmington Housing Authority. The Housing Authority recently approved a currently vacant unit for an 18% rent increase, the seller is in the process of having three others approved at the same rate. The opportunity for future similar increases on the remaining units at lease renewal and turnover provides a generous value add. The tenants are responsible for electric, water, sewer and cable. The property is located adjacent to the popular Brooklyn Arts District in Downtown Wilmington, NC. The immediate area offers access to public parks, medical care, pharmacy, transportation, restaurants and entertainment. The Wilmington MSA is one of the fastest growing in North Carolina--encompassing New Hanover, Brunswick and Pender Counties. Demand for affordable housing is outpacing supply by a wide margin throughout the region, supporting this offering as a durable investment.

Details

MLS#100443909
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusPending
Year1988
Days On Site67
Listing Provided ByNest Realty | Eric G Knight
Buying Commision2.5%

Features

Bed(s)36
Bath(s)12
N/A12,000
Story(s)2
ZoningR-3
Acreage0.70

Market Activity 28401

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Listings Checked: 56 seconds ago
StateNC
CountyNew Hanover
CityWilmington
Zip Code28401
AreaNew Hanover
Community NameDowntown
Listing VS Median (in Downtown)
Price:
$2,390,000
low | high
Med:
$500,000
100% of Average
SqFt:
12,000
low | high
Med:
840
100% of Average
$ / SqFt:
$199
low | high
Med:
$595
100% of Average
On Site:
67
low | high
Med:
308
21.753246753247% of Average
Sourced by Back At You
Listing Updated: July 11, 2024 at 1:38:38 PM PDT