4916 Old Mears Road, Wilmington, NC 28403
$1,400,000
Property Type:
Comm Sale or Lease
Square Footage:
11,885
Lot Size (sq. ft.):
62,291
Status:
Closed
Current Price:
$1,400,000
List Date:
3/23/2018
Last Modified:
1/16/2020
Description
Investors Take Note, this is a rare opportunity to own 8 units close to UNCW. This sale consists of 4 parcels with 2 units on each parcel for a total of 8 units. 5 homes have 3 bedrooms/2 baths AND 3 homes have 4 bedrooms/3 baths. Units are at 100% occupancy rates. Tenants pay all utilities. The yearly rent roll totals 156,000 per year. These properties are professionally managed by Century 21 Sweyer Rentals. These properties are in demand by students because of their close proximity to UNCW.
More Information MLS# 100107136
Building/Ext Features
# of Units: 8
Lot Acres: 1.43
Lot SqFt: 62291
Lot Dimensions: irregular
SqFt - Apx Total: 11885
Location Type: Mainland
Contract Info
Auction: No
List Price/SqFt: 124.95
Stipulation of Sale: Standard
Status: Closed
Marketing Start Date: 2018-03-23
Listing Price: 1485000
Current Price: $1,400,000
Location Information
City Limits: Yes
Marketing City: Wilmington
Secondary Subdivision: N/A
Street #: 4916
Street Name: Old Mears
Street Suffix: Road
County: New Hanover
State/Province: NC
Zip Code: 28403
Subdivision: Perry place
Geo Lat: 34.215245
Geo Lon: -77.879646
Remarks and Showing
Sign on Property: No
Directions to Property: Heading on Wrightsville Avenue towards Downtown, turn right on McMillian Avenue, right on Maple Avenue, left on Old Mears, houses on the right.
Building Info
New Construction: No
Legal and Taxes
Tax Assessed Value: 178800
Deed Book: 5992
Deed Page: 457
Legal: LT 2R1 PERRY PLACE
Broker Owner: No
PID: 313720.81.7223.000
Tax Identifier: R05519-005-003-000
Plat Book: 0
Plat Page: 0
Special Assessments: no
Tax Year: 2017
Zoning: R-10
HOA: No
Cobra Zone: No
Year Built: 1997
Business Type
Other: 1
HOA and Neigh Amenities
No Amenities: 1
Basement
None: 1
Construction
Wood Frame: 1
Lot Water Features
None: 1
Current Service Providers
Electric Provider: Duke Energy
Exterior Finish
Vinyl Siding: 1
Terms
Cash: 1
Conventional: 1
Foundation
Crawl Space: 1
Flooring
Carpet: 1
Vinyl: 1
Fuel Tank
None: 1
Parking Features
Off Street: 1
Sale/Lease Includes
See Remarks: 1
Roof
Shingle: 1
Road Type/Frontage
Public (City/Cty/St): 1
Cooling
Central Air: 1
Location
Residential: 1
Heating
Forced Air: 1
Heat Pump: 1
Water Heater
Electric: 1
Utilities
Water Available: 1
Water Source
Municipal Water: 1
Sewer
Municipal Sewer: 1
Financial Info
Gross Income: 156000
Total Annual Expenses: 33500
Net Operating Income: 122500
Cap Rate %: 8.25
Real Estate Taxes: 11000
Insurance Expense: 11500
BuildingExt Features
SqFt - Heated (Primary): 11885
Status Change Info
Under Contract Date: 2018-03-23
Sold Price: $1,400,000
Sold Date: 2018-05-17
Property Features
Business Type: Other
HOA and Neigh Amenities: No Amenities
Basement: None
Construction: Wood Frame
Exterior Finish: Vinyl Siding
Flooring: Carpet; Vinyl
Foundation: Crawl Space
Fuel Tank: None
Parking Features: Off Street
Roof: Shingle
Location: Residential
Lot Water Features: None
Cooling: Central Air
Heating: Forced Air; Heat Pump
Water Heater: Electric
Utilities: Water Available
Sewer: Municipal Sewer
Water Source: Municipal Water
Terms: Cash; Conventional
Listing Office:
Intracoastal Realty Corp
IDX
Last Updated: January - 16 - 2020
Copyright 2024 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.