Wilmington Duplex For Sale: A Rare Opportunity for Savvy Investors
If you are an investor in search of a unique and income-generating property, look no further than this extraordinary offering in Wilmington. This property is not your typical duplex; it is a legalized boarding house setup consisting of two single-family homes and two duplexes, totaling six units and an impressive 25 rooms. The addresses of these properties are 718 Church, 720 Church, 905 Rankin A&B, and 708 Campbell Street A&B.
One of the most remarkable aspects of this package is the fact that it has been granted letters from the city permitting the operation of “Rooming Houses.”This legal status adds tremendous value to the properties, as it ensures compliance with all local regulations and offers peace of mind to potential buyers. Moreover, the current setup brings in over $16,000 per month in rental income, making it a highly lucrative investment opportunity.
The demand for this type of accommodation is consistently high, with a substantial waitlist of tenants eager to secure a spot. Notably, reputable companies such as Trillium and Sec 8 have expressed interest in partnering with the property owner, further enhancing the potential for substantial returns. Additionally, the versatility of this setup allows for alternative uses such as a halfway house, senior living facility, or other similar ventures. These options often command even higher rental rates per room, ensuring a potentially greater return on investment.
The upkeep of the properties has been meticulously maintained. The roofs of all buildings are less than six years old, guaranteeing their longevity and minimizing the need for immediate costly repairs. Furthermore, all HVAC systems are still under warranty, providing added security to potential buyers. The properties have also undergone recent renovations, including new floors and fresh paint, giving them a modern and attractive appearance. Additionally, the windows have been upgraded, enhancing energy efficiency and reducing utility costs.
For serious buyers, the seller is willing to provide all financial documentation and proof of income with a valid proof of funds. This level of transparency is rare in real estate transactions and underscores the legitimacy and profitability of this investment opportunity.
In conclusion, the Wilmington Duplex For Sale is a remarkable offering that presents a rare opportunity for investors seeking a steady stream of income. With its legalized boarding house status, high demand from tenants and reputable companies, and potential for alternative uses, this property package holds tremendous value. The recent updates and warranties on major systems further enhance the appeal and minimize the need for immediate expenditures. Don’t miss out on this unique chance to secure a solid investment in an ever-growing market.
905 Rankin Street, Wilmington, NC 28401