Ad #7999612
MLS #100546013
Excellent investment opportunity in the downtown Wilmington area
Lullwater Dr, Wilmington, NC 28403
$9,950,000
--Beds
--Baths
41,315Sqft
46.29Acres
About this property
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
0 Beds
0 Baths
41,315 Sqft
Built in 1919
46.29 Acres
$38,575 / yr property tax
New Hanover County
Not In Subdivision Community
Additional Photos
Contact Information
Jeffrey G Hovis
Intracoastal Realty Corp
910-512-2205
Location
Listing Agent: Jeffrey G Hovis (License #: 234605) 910-512-2205
Broker: Intracoastal Realty Corp 800-533-1840 Listing Site
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Intracoastal Realty Corp 800-533-1840 Listing Site
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Aug 11, 2026
Photo Gallery
$9,950,000
--
Beds
--
Baths
41,315
Sqft
Lullwater Dr, Wilmington, NC 28403
By contacting this agent you agree to these Terms and Conditions.
MLS# 100546013
Excellent investment opportunity in the downtown Wilmington area
$9,950,000
Lullwater Dr, Wilmington, NC 28403
--
Beds
--
Baths
41,315
Sqft
46.29
Acres
$9,950,000
Lullwater Dr, Wilmington, NC 28403
-- Beds
-- Baths
41,315 Sqft
46.29 Acres
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.
42 days
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Property Details
HOME DETAILS
0 Beds
0 Baths
41,315 Sqft
Built in 1919
46.29 Acres
FINANCIAL & COMMUNITY
$38,575 / yr property tax
New Hanover County
Not In Subdivision Community
Location
Mortgage Calculator
Ad Statistics
Ad Number
7999612
Viewed
38 times
Listing Status
Active
Added
Jun 30, 2026
Last Refreshed
Jul 03, 2026 06:17:28 PM
Listing Information
Data Source
Hive MLS
Source Property ID
100546013
Listing Agent: Jeffrey G Hovis (License #: 234605) 910-512-2205
Broker: Intracoastal Realty Corp 800-533-1840 Listing Site
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Intracoastal Realty Corp 800-533-1840 Listing Site
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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