905 Rankin Street, Wilmington, NC 28401 (MLS# 100279692)
905 Rankin Street, Wilmington, NC 28401
$1,599,000
Property Type:
Multi-Family
Bedrooms:
6
Baths:
2
Square Footage:
1,974
Lot Size (sq. ft.):
2,178
Status:
Closed
Current Price:
$1,599,000
List Date:
7/05/2021
Last Modified:
4/21/2022
Description
-2 Single family - 2 duplexes - 25 total rooms - 33 tenants
Address are 718 Church, 720 Church, 905 Rankin A&B, 708 Campbell Street A&B
Brings in over 14k a month - NOI is about 11k PLUS (these numbers can easily go up with our management!) Owner is currently raising them and will be even higher before closing
Very rare opportunity with letters from the city permitting 'Rooming houses'' which holds tremendous value! There is a huge wait list for tenants wanting to get in along with companies such as trillium and sec 8. Could also be a half way house play, senior living etc which usually rents even higher per room.
Roofs are all under 4 years old. Hvacs are all under warranty and the properties have new floors and paint
Windows have been upgraded. With proof of funds can provide all financials.
More Information MLS# 100279692
Contract Info
Status: Closed
Marketing Start Date: 2021-07-05
Sub-Type: Duplex
Auction: No
Listing Price: 1699000
Current Price: $1,599,000
List Price/SqFt: 860.69
Stipulation of Sale: Standard
Location Information
Street #: 905
Street Name: Rankin
Street Suffix: Street
County: New Hanover
State/Province: NC
Zip Code: 28401
City Limits: Yes
Marketing City: Wilmington
Subdivision: Downtown
Secondary Subdivision: N/A
Geo Lat: 34.241815
Geo Lon: -77.938142
Remarks and Showing
Directions to Property: 3rd St heading West to Redcross St turn rt, Redcross turns into Rankin , unit on the corner of Rankin & Anderson
Sign on Property: No
Building Info
New Construction: No
Property ExteriorInterior Info
# Bedrooms: 6
SqFt - Heated (Primary): 1974
Legal and Taxes
Tax Assessed Value: 88300
Deed Book: 1377
Deed Page: 828
Legal: BLK 240 PT W 5 WILMINGTON
Broker Owner: No
PID: R04813022009001
Tax Identifier: R04813-022-009-001
Total Real Estate Property Taxes: 1057.61
Special Assessments: NONE
Tax Year: 2020
Year Built: 1920
Zoning: R-3
HOA: No
Cobra Zone: No
Elementary School: Williams
Middle School: Virgo
High School: New Hanover
Status Change Info
Under Contract Date: 2021-07-27
Sold Price: $1,599,000
Sold Date: 2021-11-09
Property Features
Construction: See Remarks
Exterior Features: None
Exterior Finish: See Remarks
Fencing: None
Foundation: Crawl Space
Fuel Tank: None
Parking Features: Paved
Patio and Porch Features: See Remarks
Roof: Shingle
Cooling: Other
Heating: Other
Fireplace: None
Interior Features: None
HOA and Neigh Amenities: No Amenities
Terms: Cash; Conventional
Listing Office: Keller Williams Innovate-Wilmington
Last Updated: April - 21 - 2022
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