Property Description

Pride of ownership 5-unit apartment complex consisting of all 1 Bedroom 1 Bath units presents an excellent investment opportunity. This is an ideal income property for any investor looking to acquire a value-add asset with substantial upside in rents as units turn over. All tenants are current on their rent with $4,718/mo. total rental income (3x$911; 1x$1,100; 1x$885). One garage will be delivered vacant and can be rented for additional income. Property is separately metered for gas and electric and tenants responsible for their utility bills. Property is situated on an oversized 7,190 Sq. Ft. lot with garages in the rear which presents an excellent ADU conversion opportunity. Wilmington has always been a stable rental market with rents on the increase.

INVESTMENT HIGHLIGHTS