Real Estate Agent Stephanie Lemke

Stephanie Lemke REALTOR®

Broker

Cell: (910) 885-2421
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145 Lullwater Drive, Wilmington, NC 28403

$10,750,000.00
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  • 145 Lullwater Drive, Wilmington, NC 28403 Main Photo

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Active
SQUARE FEET41,315 MLS#100546013
STATUSActive PROPERTY TYPECommercial - Business
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Property Description

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.

Property Features

Property Type: Commercial - Business
Cooling: Other
Days on Market: 77
Heating: Other
Lot Size: 46.29 Acres
Roof Type: See Remarks
Year Built: 1919

Feature Descriptions

Association Amenities: See Remarks
Exterior: See Remarks
Flooring: See Remarks
Lot: See Remarks
Lot Dimensions: multiple site
Parcel#: R04915-003-005-000
Parking: See Remarks
Parking Notes: See Remarks
Sewer: Cape Fear Public Utility Authority
Units: 68
Utilities: See Remarks

Listed By / Shown By

Listed By

Agency Name: Intracoastal Realty Corp
Agency Phone: 910-256-4503

Shown By

Agent Name: Stephanie Lemke Broker
Agent Phone: Cell: (910) 885-2421

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