$3,550,000

145 Lullwater Drive 1-24, Wilmington, NC 28403

  • 13,320 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1997
  • Property Lot Size Icon1.4acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $267/sqft
  • Property List Date Icon Listed 16 days ago

Property Description

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 Status:
Active
Date Added:
April 26, 2026
Data Last Updated:
May 12, 2026 at 3:20PM
Listing Office:
Intracoastal Realty Corp : 910-256-4503
MLS ID:
100569678
  • Basement: None
  • Flooring: CarpetVinyl
  • A/C: Wall/Window Unit(s)
  • Heating: OtherElectricElectric
  • Parking: Parking LotOff StreetPavedParking spaces: 34
  • Roofing: Shingle
  • General: Vinyl SidingWood FrameSlab
  • Road/Access: City StreetState Road2 - 3 LanesPavedSee Remarks
  • HOA Amenities: See Remarks
  • Originating MLS: Hive MLS
  • County: New Hanover
  • Zoning: MD-17See Property Information Sheet in Listing DocumentsR04915-003-005-000
  • Current Use: Multi-Family
  • Utilities: Electricity ConnectedSewer Connected2Water Connected3
  • Water: Public
  • Sewer: Municipal SewerCape Fear Public Utility Authority
  • Source: Hive MLS

This listing courtesy of Intracoastal Realty Corp

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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