145 Lullwater Drive, Wilmington, NC 28403

• 41,315 sqft

Property Description

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 Status:

Active

Date Added:

December 18, 2025

Data Last Updated:

May 12, 2026 at 5:15PM

Listing Office:

Intracoastal Realty Corp : 910-256-4503

MLS ID:

100546013

Interior

• Basement: None
• Flooring: See Remarks
• A/C: Other
• Heating: OtherSee Remarks

Exterior

• Parking: See RemarksParking spaces: 150

Construction

• Roofing: See Remarks
• General: See Remarks

Location

• Road/Access: City StreetState RoadSee Remarks2 - 3 LanesPaved
• HOA Amenities: See Remarks
• Originating MLS: Hive MLS
• County: New Hanover

Lot

• Zoning: MixedSee Document section Exhibit AR04915-003-005-000
• Current Use: Single FamilyMulti-Family

Utilities

• Utilities: See Remarks
• Sewer: Cape Fear Public Utility Authority

Financial

• Source: Hive MLS