4916 Old Mears Road, Wilmington, NC 28403 (MLS# 100107136)
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
Contract Info
Status: Closed
Marketing Start Date: 2018-03-23
Auction: No
Listing Price: 1485000
Current Price: $1,400,000
List Price/SqFt: 124.95
Stipulation of Sale: Standard
Location Information
Street #: 4916
Street Name: Old Mears
Street Suffix: Road
County: New Hanover
State/Province: NC
Zip Code: 28403
City Limits: Yes
Marketing City: Wilmington
Subdivision: Perry place
Secondary Subdivision: N/A
Geo Lat: 34.215245
Geo Lon: -77.879646
Remarks and Showing
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.
Sign on Property: No
Building Info
New Construction: No
BuildingExt Features
SqFt - Heated (Primary): 11885
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
Special Assessments: no
Tax Year: 2017
Year Built: 1997
Zoning: R-10
HOA: No
Cobra Zone: No
Status Change Info
Under Contract Date: 2018-03-23
Sold Price: $1,400,000
Sold Date: 2018-05-17
Current Service Providers
Electric Provider: Duke Energy
Financial Info
Gross Income: 156000
Total Annual Expenses: 33500
Net Operating Income: 122500
Cap Rate %: 8.25
Real Estate Taxes: 11000
Insurance Expense: 11500
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
Last Updated: January - 16 - 2020
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