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145 Lullwater Drive , Wilmington
$9,950,000
MLS#: 100546013
Property Type: commercial
Address: 145 Lullwater Drive
City / Zip: Wilmington, NC 28403
Area: Wilmington
County: New Hanover
Neighborhood: Not In Subdivision
Building Sq Ft: 41,315
Acres: 46.29
Year Built: 1919
Zoning: Mixed
Date Listed: 12/19/2025
Amenities
Interior Features
- Air Conditioning: true
- Floor Covering: See Remarks
- Heating: Other
External Features
- Lot Description: See Remarks
- Parking: See Remarks
- Roof: See Remarks
Additional Features
- Contruction: false
- County: New Hanover
- Status Date: 2026-04-04
- Property Sub Type: Multi Family
- Year Built: 1919
- Zoning: Mixed
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Agent's Comments
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.
*Listing provided courtesy of the MLS.