41,315 sqft

$9,950,000

0 Lullwater Drive, Wilmington NC, 28403

Price per sqft$240.83

Built in1919

Property size41,315 sqft

Property typeCommercial

Overview

Active

Listed Dec 18, 2025

Updated Jun 9

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.

Additional information

MLS^® ID: 100546013
Available since: December 18, 2025

Interior Features

Cooling: Yes
Heating: Yes
Basement: No

Exterior Features

Lot Size: 46.29 Acres

Other Property Details

Taxes: $38,575
Tax Frequency: Annually

Courtesy of Intracoastal Realty Corporation with Jeffrey G Hovis, Sky Grainger
Listing Contact:

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Data last updated 6:18 AM UTC, 6/9/2026