1405 Corbett Street A, Wilmington, NC 28401

New Listing
$5,799,900
Property Type: Comm Sale or Lease Square Footage: 24,768 Lot Size (sq. ft.): 41,818 Status: Active
Current Price: $5,799,900 List Date: 12/10/2025 Last Modified: 12/10/2025

Description

Rare opportunity! 8 Duplexes in downtown Wilmington next to a new home development in Love Grove. You can really see the time and effort the developer/builder/owner put into making and creating this perfect portfolio compound of major cash flow! 8 Duplexes which breaks down to be 16, 4 bedroom 2 bath units with 1,548 Sqft per unit for a total of 24,768 sqft, 64 bedrooms, 32 bathrooms. All 8 duplexes are side by side and all in a row on the same street. Each duplex is on its own parcel. Every unit has their own driveway and fenced in backyard. There is also a storage unit in the back of every unit. Granite counter tops, stainless steel appliances water proof flooring and so many great features. Floor plans reads 1 bedroom down stairs and 3 upstairs. Floor plans and specs are attached to the mls or can be provided upon request. Each tenant has been handpicked by the owner with long history and track records. Every lease is government backed and guaranteed though Sec8 program. Each tenant had to meet criteria of no previous evictions, no felonies, strong reference from past landlords and wanted to stay at the property for many years after initial lease period. They do not have to be sec8 if not wanted. Currently total rental income a month is about 40k a month or 480k a year! This opportunity gives you the chance to own 8 almost new multifamily properties in a fantastic area in one of the fastest growing cities in the country with a even better return. Easy to manage, fully occupied and like new! Reach out for a private tour or for more information.

More Information MLS# 100544737

Building/Ext Features

# of Units: 16 Fireplace Y/N: No Lot Acres: 0.12 Lot SqFt: 41818 Lot Dimensions: Irregular SqFt - Total Available: 3168 Location Type: Mainland

Contract Info

Available Date: 2025-12-10 Delayed Marketing?: No Sub-Type: Multi Family Garage: N/A Space: No List Price/SqFt: 234.17 Stipulation of Sale: Standard Status: Active Marketing Start Date: 2025-12-09 Listing Price: 5799900 Current Price: $5,799,900

Location Information

Unit #: A City Limits: Yes Secondary Subdivision: N/A Street #: 1405 Street Name: Corbett Street Suffix: Street County: New Hanover State/Province: NC Zip Code: 28401 Subdivision: Love Grove Geo Lat: 34.252903 Geo Lon: -77.93204

Remarks and Showing

Sign on Property: No Directions to Property: From Hwy 17 N to Wilmington. Take the exit toward Ilm Int'l Airport from US-74 E/Martin Luther King Jr Pkwy. Follow One Tree Hill Way and Love Grove Memorial Bridge to Creekfront Dr

Building Info

New Construction: No

Legal and Taxes

Tax Assessed Value: 533100 Deed Book: 6576 Deed Page: 801 Legal: Lot 2 Blk 10 Love Grove Broker Owner: No PID: R04806-006-012-000 Tax Identifier: R04806-006-174-000 Plat Book: 0 Plat Page: 0 Total Real Estate Property Taxes: 3137.3 Special Assessments: none Tax Year: 2025 Zoning: R-3 Cobra Zone: No Year Built: 2023

Terms

1031 Exchange: 1 Cash: 1 Conventional: 1

Parking Features

Additional Parking: 1 Concrete: 1 Lighted: 1 On Site: 1 Paved: 1 Private: 1

Sale/Lease Includes

Buildings: 1 Fixtures: 1 Land: 1 See Remarks: 1

Roof

Shingle: 1

Cooling

Central Air: 1

Location

Residential: 1

Heating System Fuel Source

Electric: 1

Water Heater

Electric: 1

Water Source

Municipal Water: 1

Sewer

Municipal Sewer: 1

BuildingExt Features

SqFt - Heated (Primary): 24768

Property Features

Parking Features: Additional Parking; Concrete; Lighted; On Site; Paved; Private Roof: Shingle Location: Residential Cooling: Central Air Heating System Fuel Source: Electric Water Heater: Electric Sewer: Municipal Sewer Water Source: Municipal Water Terms: 1031 Exchange; Cash; Conventional
Listing Office: Keller Williams Innovate-Wilmington
IDX
Last Updated: December - 10 - 2025
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