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407 Red Cross Street 407 Red Cross St 4 Unit Apartment Building $955,597 CAD ($238,899 CAD/Unit) Wilmington, NC 28401
Investment Highlights
- This property presents an excellent investment opportunity.
- Prime location
Executive Summary
This four-unit income-producing property is ideally located in the Historic Mixed-Use District of downtown Wilmington, just blocks from the Riverwalk and within close proximity to shopping, dining, entertainment, and local businesses. The fully leased building features a desirable unit mix of two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, providing steady rental income. With strong occupancy already in place, this property presents an excellent investment opportunity. There is significant upside potential for increased returns through strategic upgrades and improvements, making it an ideal option for investors looking to add value in a prime downtown location.
Property Facts
| Price | $955,597 CAD | Lot Size | 0.12 AC |
| Price Per Unit | $238,899 CAD | Building Size | 3,301 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 0.61/1,000 SF |
| Building Class | C | ||
| Zoning | HD-MU - High Density Mixed Use | ||
| Price | $955,597 CAD |
| Price Per Unit | $238,899 CAD |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,301 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 0.61/1,000 SF |
| Zoning | HD-MU - High Density Mixed Use |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | 800 - 850 |
| 1+1 | 2 | - | 700 - 800 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R04813-028-018-000 | Improvements Assessment | $131,529 CAD |
| Land Assessment | $168,080 CAD | Total Assessment | $299,609 CAD |
Property Taxes
Parcel Number
R04813-028-018-000
Land Assessment
$168,080 CAD
Improvements Assessment
$131,529 CAD
Total Assessment
$299,609 CAD
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407 Red Cross Street | 407 Red Cross St
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