Grandfathered short-term rental rights in downtown Southport -- the one thing investors can't buy anymore, and this five-unit has it. Four bright 2BR/2BA units built in 2019 plus a private cottage, set on a quarter-acre pond-front lot three blocks from the shops, restaurants, and waterfront of one of North Carolina's… Read More most beloved coastal towns. The opportunity pencils two ways: projected at $150,000 gross on all annual leases, or blend in short-term rentals on two units and the pro forma reaches $181,250 gross -- roughly a 7.2% projected cap at asking. Newer construction keeps maintenance light, tenants pay their own utilities, and Oak Island's beaches are minutes away. A walkable, water-view income property with a licensing moat around it -- the kind of Southport offering that comes along once a cycle. Pro forma projections available; buyers to verify all figures and rental permissions. Offered at $1,699,900. Read Less
Courtesy of Zack Bryant Team, Berkshire Hathaway HomeServices Carolina Premier Properties
Listing Snapshot
Days Online
13
Last Updated
Property Type
Quadruplex
Beds
10
Lot Size
0.25 Acres
Year Built
2019
MLS Number
100590676
Additional Details
Property Access
Road frontage type: City Street, State Road, Asphalt, Paved, Road surface type: Paved
Appliances & Equipment
Electric Oven, Electric Cooktop, Refrigerator
Basement
None
Building
Built in 2019, Construction materials: Brick Veneer, Vinyl Siding, Wood Frame, Levels: One, 1 total story, Structure type: Wood Frame, Toal building area: 5268
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of . All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Berkshire Hathaway HomeServices Carolina Premier Properties shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data.
Confirm your time
Fill in your details and we will contact you to confirm a time.