370 S Kerr Avenue, Unit 105, Wilmington, NC 28403 (MLS# 100411313)

370 S Kerr Avenue, Unit 105, Wilmington, NC 28403

$2,300,000

Property Type: Comm Sale or Lease Square Footage: 12,000 Status: Closed

Current Price: $2,300,000 List Date: 10/24/2023 Last Modified: 12/16/2024

Description

Package of ten condos in a great community in PRIME location of Wilmington, North Carolina. Each unit has 3 beds/3 baths and is located less than a mile to the UNCW campus. Within a mile to plenty of shopping and less than 5 mins to the beach! Spacious bedrooms all with their own private bathrooms and walk-in closets. Ideal as investment properties. All properties currently below market value. How dues are 2400/year for each unit. Property taxes are close to 20k in total. Each property should be able to rent for 2100-2200. 4 units recently vacant and have been turned and ready for rent to be increased. NOI with pro forma is roughly 225k annually. Reach out for more information! 370 S. Kerr Ave. Unit 105 Wilmington, NC 28403 ((tenant occupied until 4/2024) 370 S. Kerr Ave. Unit 106 Wilmington, NC 28403 370 S. Kerr Ave. unit 103 Wilmington, NC 28403 (no washer/dryer) 370 S. Kerr Ave. unit 104 Wilmington, NC 28403 (tenant occupied until 10/14/2023, $1,800) 370 S. Kerr Ave. unit 304 Wilmington, NC 28403 (tenant occupied until 11/11/2023, $1,745) 376 S. Kerr Ave. unit 302 Wilmington, NC 28403 (fresh paint for entire unit) 376 S. Kerr Ave. unit 304 Wilmington, NC 28403 (tenant occupied until 2/15/2024, $1,575) 376 S. Kerr Ave. unit 305 Wilmington, NC 28403 376 S. Kerr Ave. unit 101 Wilmington, NC 28403 (fresh paint for entire unit, no washer/dryer) 376 S. Kerr Ave. unit 102 Wilmington, NC 28403 We have a total of 10 units in this complex for sale. Possibly more in the future as a package!

More Information MLS# 100411313

Contract Info

Available Date: 2023-10-20 Status: Closed Delayed Marketing?: No Marketing Start Date: 2023-10-24 Sub-Type: Multi Family Garage: N/A Sale/Lease: Sale Auction: No Listing Price: 2149900 Current Price: $2,300,000 List Price/SqFt: 179.16 Stipulation of Sale: Standard

Location Information

Street #: 370 Pre Direction: S Street Name: Kerr Street Suffix: Avenue Unit #: Unit 105 County: New Hanover State/Province: NC Zip Code: 28403 City Limits: Yes Marketing City: Wilmington Subdivision: Kerr Crossing Secondary Subdivision: N/A Geo Lat: 34.231367 Geo Lon: -77.888318

Remarks and Showing

Directions to Property: College to Randall Parkway, turn left at stoplight onto Kerr Ave, immediately turn right into Kerr Crossing Parking lot (corner of Randall & Kerr) Sign on Property: No

Building Info

New Construction: No

BuildingExt Features

SqFt - Heated (Primary): 12000

Legal and Taxes

Deed Book: 6323 Deed Page: 1820 Legal: Unit 105 Bldg 1 Kerr Crossing Child Split From R05507-001-011-000 Broker Owner: No PID: R05507-001-011-005 Tax Identifier: R05507-001-011-005 Plat Book: 00 Plat Page: 00 Special Assessments: none Tax Year: 2022 Year Built: 2007 Zoning: RES Cobra Zone: No

Status Change Info

Under Contract Date: 2024-10-08 Sold Price: $2,300,000 Sold Date: 2024-12-16

HOA

Association Fee 1/Year: 2400 Association Name: Kerr Crossing Association Phone: 9109007767 HOA 1 Mgmt. Company: Unlimited Property Management

Property Features

Business Type: Comm Condominium Exterior Finish: Vinyl Siding Flooring: Carpet Heating System Fuel Source: Electric

Listing Office: Keller Williams Innovate-Wilmington

Last Updated: December - 16 - 2024

370 S Kerr Avenue, Unit 105, Wilmington, NC 28403- MLS# 100411313

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370 S Kerr Avenue, Unit 105, Wilmington, NC 28403 (MLS# 100411313)

370 S Kerr Avenue, Unit 105, Wilmington, NC 28403 (MLS# 100411313)