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About This Home
This 0-bedroom, 0-bathroom residential multi family at 145 Lullwater Drive in Wilmington, NC is listed for $9,950,000 ($241 per sqft). Built in 1919, the home offers 41,315 sqft of living space on a 46.29 acres lot.
Excellent investment opportunity in the downtown Wilmington area. This rental portfolio consists of 54 income-producing units located in close proximity to downtown. Property mix includes 24 apartment-style condo units in two buildings, along with quadplexes, triplexes, duplexes, and single-family homes, offering diversification and stable cash flow.
Current annual rental income is approximately $800,000, with documented upside potential to $1,056,000 annually through rent increases and continued stabilization. Seller has completed approximately $600,000 in recent capital improvements throughout the portfolio, providing reduced deferred maintenance and improved operational efficiency.
Ideal opportunity for investors seeking to enter the Wilmington rental market or expand an existing portfolio with scale, location, and value-add potential. Financials available upon request.
Key Features
- Built in 1919
- 46.29 acre lot
- 150 parking spaces
Property Details
Amenities
Monthly Cost Estimate
$53,215/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
145 Lullwater Drive
Wilmington, NC 28403
Not In Subdivision
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 145 Lullwater Drive is listed at $9,950,000 ($241/sqft). The estimated monthly payment is $43,117 based on 20% down at 6.5% interest.
Key features include: Built in 1919, 46.29 acre lot, 150 parking spaces.
This property is listed by Jeffrey G Hovis and can be reached at 9105122205 or jhovis@intracoastalrealty.com.