$3,975,000
621 N 11th Street
Wilmington, NC 28401
MLS# 100427097
Status: Closed

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Property Description
20 door portfolio consisting 14, 3 bedrooms. and 6, 2 bedrooms. Currently has a rental income amount of $332,928. All rents are currently below market value by a large amount. Fair market value with approved government funded numbers ready for rent increases puts the pro forma at a rental income amount of $482,400. All utilities are in the tenants name. Reach out and we can provide you with rent roll, and approved s8 government funded worksheet.

Details
Maps
Building/Ext Features
Lot Acres: 0
Lot SqFt: 0
Lot Dimensions: irregular
SqFt - Total Available: 0
Location Type: Mainland
Contract Info
Available Date: 2024-02-12
Delayed Marketing?: No
Sub-Type: Multi Family
Garage: N/A
Sale/Lease: Sale
Stipulation of Sale: Standard
Status: Closed
Marketing Start Date: 2024-02-12
Listing Price: 4499800
Current Price: $3,975,000
Location Information
City Limits: Yes
Secondary Subdivision: N/A
Street #: 621
Pre Direction: N
Street Name: 11th
Street Suffix: Street
County: New Hanover
State/Province: NC
Zip Code: 28401
Subdivision: Not In Subdivision
Geo Lat: 34.243496
Geo Lon: -77.935928
Remarks and Showing
Sign on Property: No
Directions to Property: South on Market Street towards downtown. Right onto 23rd St. Left onto Princess Place Drive, Right onto N 11th St, Continue on King St, property is on the corner of King and Wynnwood St.
Building Info
New Construction: No
Legal and Taxes
Tax Assessed Value: 89200
Deed Book: 6350
Deed Page: 634
Legal: Lot 8 Blk 5 Love Grove
Broker Owner: No
PID: R04806-002-008-000
Tax Identifier: R04814-010-018-000
Plat Book: 00
Plat Page: 00
Total Real Estate Property Taxes: 753.74
Special Assessments: None
Tax Year: 2023
Zoning: R-3
Cobra Zone: No
Year Built: 1948
Current Use
Multi-Family: 1
Lot Water Features
None: 1
Terms
1031 Exchange: 1
Cash: 1
Conventional: 1
Sale/Lease Includes
See Remarks: 1
Heating System Fuel Source
Electric: 1
Status Change Info
Under Contract Date: 2024-11-27
Sold Price: $3,975,000
Sold Date: 2024-12-30
Property Features
Current Use: Multi-Family
Lot Water Features: None
Heating System Fuel Source: Electric
Terms: 1031 Exchange; Cash; Conventional
IDX
Listing Office: Keller Williams Innovate-Wilmington

Last Updated: January - 01 - 2025

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