209 K Avenue, Kure Beach, NC 28449

$1,600,000
4,040
SqFt
List Price
$1,600,000
Status
ACTIVE
MLS#
100238417
Days on Market
26
Year Built
1920
Living Area
4,040
Neighborhood
Not In Subdivision

Property Description

Beach Cottages and apartments, solid income, New Roofs, Apartments completely brand new inside, new vinyl siding on the cottages. Large cottage average 2400 a month, small cottage 1700 a month x 3, apartments 1200 a month x 5.Current ExpensesInternet: $938.84TV: $1,880.79Power:$11,596.88Water Sewer: $6,993.35Taxes: $2,846.99+$2,250.03= $5097.02Insurance$9984.00Based off full time rental potential gross income is 162k a year, with vacation rental income can greatly increase. But with a fair 25% expense ratio You will have 7.5 cap rateB1 ZoningBanks/loan/finance company; bus terminal (S); place of worship;eating/drinking establishment; service station (S); food store; hotel/motel;parking lot (S); professional office; barber/beauty/personal service shop;public building/facility; retail store; arcade (S); theatre (S); dance hall; homeoccupation; Dwelling constructed in conjunction w/ permitted uses above- ifintegral part of main building (S); real estate; Accessory uses clearly incidentalto permitted use that doesn't create nuisance or hazard

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Wilmington Commercial Real Estate.

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