$9,950,000
145 Lullwater Drive, Wilmington, NC, 28403
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.
Listing Details
| Office | Intracoastal Realty Corp |
|---|
Facts & Features
| MLS® # | 100546013 |
|---|---|
| Price | $9,950,000 |
| Acres | 46.29 |
| Year Built | 1919 |
| Type | Commercial Sale |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 145 Lullwater Drive |
|---|---|
| Subdivision | Not In Subdivision |
| City | Wilmington |
| County | New Hanover |
| State | NC |
| Zip Code | 28403 |
| Senior Community | No |
Amenities
| Amenities | See Remarks |
|---|---|
| Utilities | See Remarks |
| Parking Spaces | 150 |
| Parking | See Remarks |
| Is Waterfront | No |
| Waterfront | None |
| Has Pool | No |
| HOA Amenities | See Remarks |
Interior
| Heating | Other |
|---|---|
| Cooling | Other |
| Fireplace | No |
Exterior
| Lot Description | See Remarks |
|---|---|
| Roof | See Remarks |
| Construction | See Remarks |
Additional Information
| Date Listed | December 18th, 2025 |
|---|---|
| Days on Market | 108 |
| Zoning | Mixed |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |