942 Bonham Avenue, Wilmington, NC 28403
$2,400,000
Property Type:
Comm Sale or Lease
Square Footage:
11,534
Lot Size (sq. ft.):
28,314
Status:
Closed
Current Price:
$2,400,000
List Date:
5/15/2025
Last Modified:
11/13/2025
Description
Bonham Bay Townhomes are conveniently located in the Mid-Town area of Wilmington North Carolina. This multifamily investment is currently 100% occupied.
Bonham Bay Townhomes consists of 11 townhome units, all of which are approximately 1,000 square feet in size. Each unit has two bedrooms, two full bathrooms, powder room, private entry, outdoor patio, and off-street parking.
The property is located close to Downtown Wilmington, UNCW, CFCC, Shopping, Entertainment, Medical Services, Public Transportation, Beaches and so much more. The current owners have upgraded the units, stabilized rents, and opened the opportunity to grow this investment. Property is currently managed professionally, and operations are turnkey for the next investor. The Multifamily zoning classification opens development opportunities. Complete financial information is available from the listing agent.
More Information MLS# 100507706
Contract Info
Available Date: 2025-05-15
Delayed Marketing?: No
Sub-Type: Multi Family
Garage: N/A
Space: Yes
Sale/Lease: Sale
List Price/SqFt: 212.42
Stipulation of Sale: Standard
Status: Closed
Marketing Start Date: 2025-05-15
Listing Price: 2450000
Current Price: $2,400,000
Location Information
City Limits: Yes
Secondary Subdivision: N/A
Street #: 942
Street Name: Bonham
Street Suffix: Avenue
County: New Hanover
State/Province: NC
Zip Code: 28403
Subdivision: Highwood Park
Geo Lat: 34.220395
Geo Lon: -77.893971
Remarks and Showing
Sign on Property: No
Directions to Property: From Downtown, take Wrightsville Avenue east. Turn left on Bonham and property is on the left. Park in non-numbered spots.
Building Info
New Construction: No
Building/Ext Features
# of Parking Spaces: 25
# of Units: 11
Lot Acres: 0.65
Lot SqFt: 28314
Lot Dimensions: 149 x 200 x 133 x 201
SqFt - Total Available: 5796
Location Type: Mainland
Legal and Taxes
Tax Assessed Value: 1166000
Total City Real Estate Property Tax: 9852
Deed Book: 6588
Deed Page: 1324
Legal: Pt Bnhm Wilm 148.35X200X131
Broker Owner: No
PID: R05514-001-024-000
Tax Identifier: R05514-001-024-000
Plat Book: 0
Plat Page: 0
Total Real Estate Property Taxes: 10144.2
Special Assessments: none
Tax Year: 2024
Zoning: MD-17
HOA: No
Cobra Zone: No
Federal Flood Ins Avlbl: Yes
Year Built: 1991
Showing Instructions
Special Instructions: 1
Business Type
Other: 1
Current Use
Multi-Family: 1
Miscellaneous
Occupancy: 100
Current Use: Rental Residential
HOA and Neigh Amenities
No Amenities: 1
Attic
Access Only: 1
Basement
None: 1
C & I Features
See Remarks: 1
Construction
Wood Frame: 1
Lot Water Features
None: 1
Current Service Providers
Electric Provider: Duke Progress Energy
Internet Service Provider(s): Spectrum
Sewer Provider: Cape Fear Public Utility Authority
Trash Provider: City of Wilmington
Water Provider: Cape Fear Public Utility Authority
Exterior Finish
Brick Veneer: 1
Vinyl Siding: 1
Terms
1031 Exchange: 1
Cash: 1
Conventional: 1
Foundation
Slab: 1
Flooring
Carpet: 1
Laminate: 1
Tile: 1
Fuel Tank
None: 1
Green Bldg Features
None: 1
Parking Features
Asphalt: 1
Off Street: 1
Parking Lot: 1
Private: 1
Sale/Lease Includes
Buildings: 1
Land: 1
See Remarks: 1
Roof
Metal: 1
Road Type/Frontage
2 - 3 Lanes: 1
Road/Trans Access
Airport: Less than 5 Miles
County Highway: Less than 5 Miles
Interstate: Less than 5 Miles
Port: 6 - 10 Miles
Rail: 6 - 10 Miles
State Highway: 6 - 10 Miles
Cooling
Central Air: 1
Location
Residential: 1
See Remarks: 1
Heating
Heat Pump: 1
Heating System Fuel Source
Electric: 1
Water Heater
Electric: 1
Utilities
Water Available: 1
Water Source
Municipal Water: 1
Sewer
Municipal Sewer: 1
Financial Info
Financial Info: Yes
Gross Income: 209880
Total Annual Expenses: 37341
Net Operating Income: 172539
Cap Rate %: 7
Real Estate Taxes: 11677
Insurance Expense: 14210
Management Fee: 15664
Common Area Maint: 4500
Lease Types
See Remarks: 1
BuildingExt Features
SqFt - Heated (Primary): 11534
Status Change Info
Under Contract Date: 2025-06-17
Sold Price: $2,400,000
Sold Date: 2025-11-13
Property Features
Business Type: Other
Showing Instructions: Special Instructions
HOA and Neigh Amenities: No Amenities
Attic: Access Only
Basement: None
Construction: Wood Frame
Exterior Finish: Brick Veneer; Vinyl Siding
Flooring: Carpet; Laminate; Tile
Foundation: Slab
Fuel Tank: None
Green Bldg Features: None
Parking Features: Asphalt; Off Street; Parking Lot; Private
Roof: Metal
Current Use: Multi-Family
Location: Residential; See Remarks
Lot Water Features: None
Cooling: Central Air
Heating: Heat Pump
Heating System Fuel Source: Electric
Water Heater: Electric
Utilities: Water Available
Sewer: Municipal Sewer
Water Source: Municipal Water
Terms: 1031 Exchange; Cash; Conventional
Lease Types: See Remarks
Listing Office:
Intracoastal Realty Corp
IDX
Last Updated: November - 13 - 2025
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