$2,000,000

2048 Harrison Street

Wilmington NC, 28401

Description

ILM Unique Investment, also known as Housetherapy LLC is a combination of three individual property within one portfolio. This grouping includes a single family home located in Sunset Park that is a very profitable Air B & B property, a Historic Bed and Breakfast with 7 optional bedrooms located in the heart of Wilmington, North Carolina Historic District and a three unit property located in the Residential-Office zoned area on Oleander Drive in Wilmington, North Carolina. This diverse property portfolio enables an owner a very profitable rental income scenario. The ability to maximize income with the option of long-term, mid-term or short-term for each property, enables an investor flexibility in today's ever changing residential and hospitality market. The Historic Bed and Breakfast located at 118 S 4th Street has been transitioned into one of the most contemporary accommodation in downtown Wilmington. This 4,446 square foot property has four permitted Bed and Breakfast suites. This property comes fully furnished. This grand location has an attached accessory unit that can serves as a long-term rental. The flexibility of some additional rooms, enables the innkeeper to provide a quick turnaround to accommodate their guest. The level of detail can be seen in the beautifully landscaped gardens and throughout the renovated home. This property enjoys Five (5) star ratings on TripAdvisor, Yelp and Google review. This is an incredible property to add to anyone's portfolio. 2048 Harrison Street is located in the quaint Sunset Park Neighborhood that is right outside of downtown Wilmington. This comfortable bungalow, also known as ''Drift Away'' is a licensed Air B and B rental. This property just recently went under a complete renovation. The property enjoys an open common area with two bedrooms and has a unique and stylish upstairs loft to accommodate guests. This property's gardens and private back yard make it a favorite of it guests. This property comes fully furnished. The third property in this portfolio is one that see consistence income production and is located in a very unique zoning district in the City of Wilmington. 4928 Oleander Drive consists of three structures. In the front of the property is a three-bedroom two-bathroom residential house. The next structure is a detached accessory structure that serves as a one-bedroom, one-bathroom unit. The third structure is also a one bedroom and one-bathroom unit. All three units have been leased as long-term residential rental properties. This property falls in the residential-office zoning overlay and permitted offices and business uses that just increase the opportunities for this property. The three properties combined for a very profitable investment. 118 S 4th and 2048 Harrison Street come fully furnished. There is multiple diversity in operations that enable flexibility and opens up potential. The advanced bookings, management program, websites and marketing plan are all available to the next lucky owner. Contact Jeff Hovis for Confidential Financials

Details

MLS#100212731
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1943
Days On Site56

Features

Units3
Building(s)1

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Area Information

StateNC
CountyNew Hanover
CityWilmington
Zip Code28401
AreaNew Hanover
Listing VS Median (in 28401)
Price:
$2,000,000
low | high
Med:
$232,250
100% of Average
On Site:
56
low | high
Med:
62.5
89.6% of Average
Listing Updated: 06/02/2020
MLS Number: 100212731
Listing Provided By:
Jeffrey G Hovis  of  Intracoastal Realty Corp
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