145 Lullwater Drive 1-24

Wilmington, NC 28403

Twenty-four (24) unit multi-family investment property ideally located near UNCW, shopping, local businesses, downtown, and area beaches. This income-producing asset features a well-balanced unit mix of sixteen (16) one-bedroom/1.5-bath units and eight (8) two-bedroom/2-bath units. The property currently generates approximately $309,000 in annual rental income, with the potential to reach up to $425,664 through voucher-based programs. Each unit is individually metered with separate utilities and is structured as a condominium, offering added flexibility and efficiency in management. An existing assumable Freddie Mac loan (subject to buyer approval) provides a highly attractive, below-market interest rate--enhancing the overall investment value. This is a strong opportunity for investors seeking stable cash flow with upside potential in a highly desirable and convenient location.

Listing courtesy of Jeffrey G Hovis of Intracoastal Realty Corp



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