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Property Description
A stabilized, income-producing portfolio rarely comes to market in Wilmington's most reliable rental submarket, and when it does, it looks like this. Six single-family homes (each on its own separate parcel) positioned on Wrightsville Avenue and Park Avenue in the 28403 zip code, approximately two minutes from UNCW. All six are 4 bedrooms, 3 bathrooms with open-concept living designed for shared occupancy. All six are homes are fully leased through July of 2026 with five out of the six leases at $3,800 per month and one at $3,600 per month producing $271,200 in gross annual rental income. Then, there are six new leases in place through July of 2027, all at $3,800 per month producing $273,600 in annual gross income. There is no lease-up period, no vacancy risk on the near horizon, and no learning curve. The portfolio is under professional management with online tenant portals and structured lease agreements already in place. Since ownership, gross rents have increased by approximately 12% and multiple capital improvements have been completed across the portfolio (including newer HVAC systems, water heaters, and appliance updates in several units). A full property-by-property improvement summary is available upon request. The location drives consistent tenant demand: approximately 2 minutes to UNCW, 5 minutes to Wrightsville Beach, 10 minutes to Wilmington International Airport, and 15 minutes to downtown Wilmington. This submarket has historically maintained high occupancy and strong lease renewal activity. For a qualified investor seeking immediate income, an experienced buyer completing a 1031 exchange, or an owner-operator looking to acquire a functioning management system alongside the assets themselves, this portfolio represents a rare opportunity to step into a stabilized position in one of coastal North Carolina's most durable rental corridors.