Investor Alert! Two income producing properties on one lot that has recently been rezoned R-5(CD) and pre-approved to build two more dwellings!! The existing 3 bedroom brick ranch (1344 ft2) is vacant and ready for its new occupant. It has recently been updated with new HVAC (2026), new HWH (2026),… Read More and new roof (2024). Other updates in the last 12-13 years include updated electrical system, kitchen cabinetry, appliances, and select flooring. There is also a bonus room that could be used as an additional bedroom or home office. Out back lies a detached 1 bedroom garage apartment (660 ft2) built in 2013 with access from Park Ave and a long term tenant in place that would like to stay. Each dwelling has their own private 1 car garage bay for storage, a rarity in this town. The primary dwelling sits on a crawlspace so there is potential to add another bathroom. Conveniently located in the Wrightsville corridor designated Area of Opportunity by the City of Wilmington this home site is close to UNCW, Cape Fear Hospital, coffee shop, city transit, Wrightsville Beach, and more! The new owner has the option to subdivide and develop two more income producing units, or just keep the property as-is and live in the house and rent out the garage apartment. In the case of the latter, you could still subdivide and possibly sell the new lot (with frontage on Wrightsville Ave) to defray the cost of your purchase. Don't miss this rare opportunity with so much potential! Disclaimer: Concept plans (pictured) were submitted to the city as part of the rezoning package and are being provided for reference only. Read Less
Courtesy of Jason G Hand, Berkshire Hathaway HomeServices Carolina Premier Properties
Built in 1954, Construction materials: "Brick", "Vinyl Siding", "Wood Frame", Levels: "One", Living area units: Square Feet, Structure type: "Wood Frame", "Stick Built", Toal building area: 1344
Cooling
"Central Air", "Ceiling Fan(s)2"
Fence
"Partial"
Heating
"Electric", "Forced Air", "Heat Pump"
Interior Features
"Mud Room", "Apt/Suite", "Ceiling Fan(s)"
Laundry
"Laundry Room"
Lot
0.38 acres, 16,553 sqft
Parking
2 total parkings, "Additional Parking", "Off Street", "On Site"
Property
Frontage type: "See Remarks", Patio and porch features: "Front Porch", Zoning: R-15, "See Remarks"
Roof
"Shingle"
Taxes
Year: 2025
Utilities
"Sewer Connected", "Water Connected"
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