1405 Corbett Street, A, Wilmington, NC 28401 (MLS# 100399637)

$5,200,000
1405 Corbett Street, A
Wilmington, NC 28401
MLS# 100399637
Status: Closed
18576 sqft
1405 Corbett Street, A, Wilmington, NC 28401
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1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401 1405 Corbett Street, A, Wilmington, NC 28401

Property Description
Rare opportunity! 6 BRAND NEW Duplexes in downtown Wilmington next to a new home development in Love Grove. You can really see the time and effort the developer/builder/owner put into making and creating this perfect portfolio compound of major cash flow! 6 Duplexes which breaks down to be 12, 4 bedroom 2 bath units with 1,548 Sqft per unit for a total of 18,576 sqft, 48 bedrooms, 24 bathrooms. All 6 duplexes are side by side and all in a row on the same street. Each duplex is on its own parcel. Every unit has their own driveway and fenced in backyard. There is also a storage unit in the back of every unit. Granite counter tops, stainless steel appliances water proof flooring and so many great features. Floor plans reads 1 bedroom down stairs and 3 upstairs. Floor plans and specs are attached to the mls or can be provided upon request. Before closing all properties will be fully occupied with all brand new leases. Each tenant has been handpicked by the owner with long history and track records. Every lease is government backed and guaranteed though Sec8 program. Each tenant had to meet criteria of no previous evictions, no felonies, strong reference from past landlords and wanted to stay at the property for many years after initial lease period. Currently total rental income a month is about 30k or 360k a year! Sec8 has already determined that each lease will have a rent increase going into year 2. This opportunity gives you the chance to own 6 brand new multifamily properties in a fantastic area in one of the fastest growing cities in the country with a even better return. Easy to manage, fully occupied and brand new! Reach out for a private tour or for more information.

Details
Maps
Contract Info
Available Date: 2023-08-12
Status: Closed
Effective Date: 2023-08-12
Delayed Marketing?: No
Delayed Marketing Date (DM): 2023-08-12
Garage: N/A
Auction: No
Listing Price: 4194000
Current Price: $5,200,000
List Price/SqFt: 225.78
Sub Agent Comm $/%: %
Buyer Agent Comm: 2
Buyer Agent Comm $/%: %
Variable Comm: No
Stipulation of Sale: None
Location Information
Street #: 1405
Street Name: Corbett
Street Suffix: Street
Unit #: A
County: New Hanover
State/Province: NC
Zip Code: 28401
City Limits: Yes
Marketing City: Wilmington
Subdivision: Love Grove
Secondary Subdivision: N/A
Geo Lat: 34.25328
Geo Lon: -77.932007
Remarks and Showing
Directions to Property: From Hwy 17 N to Wilmington. Take the exit toward Ilm Int'l Airport from US-74 E/Martin Luther King Jr Pkwy. Follow One Tree Hill Way and Love Grove Memorial Bridge to Creekfront Dr
Sign on Property: No
Building Info
New Construction: Yes
Presale: No
Est. Complete Date: 2023-08-14
Building/Ext Features
Lot Acres: 1.61
Lot Dimensions: Irregular
SqFt - Heated (Primary): 18576
Location Type: Mainland
Legal and Taxes
Tax Assessed Value: 129700
Deed Book: 6576
Deed Page: 801
Legal: Lot 2 Blk 10 Love Grove
Broker Owner: No
PID: R04806-006-012-000
Tax Identifier: R04806-006-012-000
Total Real Estate Property Taxes: 1102.45
Special Assessments: none
Tax Year: 2022
Year Built: 2023
Zoning: R-3
Cobra Zone: No
Status Change Info
Under Contract Date: 2023-12-21
Sold Price: $5,200,000
Sold Date: 2024-04-12
Is Construction Complete?: Yes
Property Features
Sale/Lease Includes: Buildings
Heating System Fuel Source: Electric

Listing Office: Keller Williams Innovate-Wilmington

Last Updated: April - 12 - 2024

1405 Corbett Street, A, Wilmington, NC 28401 - MLS# 100399637
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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