Are you looking for a unique investment opportunity in the bustling city of Wilmington? Look no further than this extraordinary Wilmington Duplex for sale. What sets this property apart is its very rare legalized boarding houses setup. This package consists of two single-family homes and two duplexes, totaling six units and 25 rooms. Located at 718 Church, 720 Church, 905 Rankin A&B, and 708 Campbell Street A&B, this property brings in over $16,000 a month, making it an incredibly lucrative investment.
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One of the key features that makes this property so special is the fact that it has obtained letters from the city permitting “Rooming houses.”This legal status adds tremendous value to the property, as it allows for a specific type of rental arrangement that is in high demand. In fact, there is a substantial waitlist of potential tenants eager to secure a spot in these boarding houses. Additionally, renowned companies such as Trillium and Sec 8 have expressed interest in leasing these units, further solidifying the property’s appeal.
While the possibilities for this property are endless, it could be an ideal location for a halfway house, senior living facility, or any other type of specialized housing. These types of accommodations typically command even higher rental rates per room, ensuring a potentially greater return on investment.
Moreover, the property has been meticulously maintained. The roofs of all the buildings are under six years old, providing peace of mind for the new owner. Additionally, the HVAC systems are all under warranty, ensuring that any potential repairs or replacements will be covered. The properties have also benefited from recent updates, including new floors and paint, which have enhanced their overall appeal. Furthermore, the windows have been upgraded, adding to the property’s attractiveness and energy efficiency.
For serious investors, the opportunity to review financials is available with proof of funds. This transparency allows potential buyers to evaluate the property’s income and expenses, ensuring a well-informed decision.
In conclusion, this Wilmington Duplex for sale offers a truly rare opportunity in the real estate market. With its legalized boarding houses setup, this property holds tremendous value and potential. Generating over $16,000 per month, it promises a significant return on investment. Whether you choose to continue operating as a boarding house or explore alternative uses such as halfway houses or senior living, this property offers endless possibilities. With its well-maintained condition and recent updates, it is ready to welcome tenants and generate income from day one. Don’t miss out on this exceptional opportunity to secure a unique and profitable investment in Wilmington.
905 Rankin Street, Wilmington, NC 28401