Multifamily Property With Three Living
For Sale
$949,900
1988 W Lake Shore Drive, Wilmington, NC 28401
Residential Income, Wilmington, NC
Property Size2,374 SF
Lot Size0.93 Acres
Price / SF$400.13
Days on Market113
Property Features for 1988 W Lake Shore Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-5
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1
Parking features
Assigned, Driveway
Patio and Porch features
Porch, Deck, Patio
Interior features
Master Downstairs, Ceiling Fan(s), Walk-in Shower, Wet Bar, Blinds/Shades, Built-in Features
Exterior features
Outdoor Kitchen, Irrigation System, Thermal Doors
Fireplace
1
Appliances
Vented Exhaust Fan, Electric Oven, Electric Cooktop, Built-In Electric Oven, Washer, Refrigerator, Dryer, Double Oven, Dishwasher, Sump Pump
Subdivision
Woodlawn
View
Lake
Elementary school
Sunset
Middle school
Williston
High school
New Hanover
Directions
From Downtown Wilmington, head east on Hanover Street and turn right onto North 3rd Street. Continue approximately 2.2 miles, then turn left onto Carolina Beach Road (US-421 South). After 0.3 miles,
Standard status
Active
APN
R06005-021-001-000
Size
2,374 SF
Lot size
0.93 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
TR 1R GLAD TIDINGS COMMUNITY MINISTRIES RECOM REV
Legal Description
TR 1R GLAD TIDINGS COMMUNITY MINISTRIES RECOM REV
Utilities
Heating system
Electric (Heating), Fireplace(s), Forced Air
Cooling system
Multi Units
Water source
Public
Amenities
outdoor kitchen
enclosed exterior bathroom
fountain
blueberry bushes
above-ground pool
generator
Building Details
Year built
1935
Floors in Building
2
Number of units
3
Flooring type
Lvt/lvp, Tile, Hardwood
Building materials
Fiber Cement, Wood Frame
Roof type
Shingle
Additional Structures
Outdoor Kitchen
Listing Agency:
Coldwell Banker Sea Coast Advantage-Hampstead
(910) 270-8880
Listed By:
Diane M Castro-Perez · License #245995
(910) 467-7642
Added: May 7
Changed: Aug 27
Last Checked: Aug 27 at 12:06PM
MLS# 100596128
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Set on 0.93 acres, this 2,374-square-foot multifamily property contains three separate living areas: a 3-bedroom, 3-bath main residence, a 2-bedroom, 2-bath Lake House, and a detached cottage-style Lake Cottage. The 1935 property includes hardwood flooring, fiber cement siding, multiple cooling units, forced-air heating, fireplace(s), a generator setup, landscaped grounds, and an outdoor kitchen. Additional exterior features include a deck, porch, patio, enclosed exterior bathroom, fountain, blueberry bushes, and an above-ground pool.
The Lake House and Lake Cottage are established short-term rentals, with Guest Favorite recognition and ratings of 4.96 across 332 reviews and 4.93 across 123 reviews, respectively. Their combined rental history provides operating performance for review. Greenfield Lake is directly across the street, while Greenfield Lake Amphitheater is approximately 220 yards away; downtown Wilmington is also nearby. The property is zoned R-5. The above-ground pool and Lake Cottage were not permitted.
The Lake House and Lake Cottage are established short-term rentals, with Guest Favorite recognition and ratings of 4.96 across 332 reviews and 4.93 across 123 reviews, respectively. Their combined rental history provides operating performance for review. Greenfield Lake is directly across the street, while Greenfield Lake Amphitheater is approximately 220 yards away; downtown Wilmington is also nearby. The property is zoned R-5. The above-ground pool and Lake Cottage were not permitted.
Key Highlights
- Three separate spaces: 3‑bedroom, 3‑bath main residence, 2‑bedroom, 2‑bath Lake House, and detached Lake Cottage
- 2,374 square feet on 0.93 acres with R‑5 zoning
- Lake House and Lake Cottage carry Guest Favorite status with 4.96 and 4.93 ratings
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 28401, NC
22,204
Population
13,017
Households
1.7
Avg Household Size
41
Median Age
34%
College-Educated
88%
High-School Grad
31.0 sq mi
ZIP Area
716
Density / Sq Mi
$52,159
Median Household Income
$35,739
Median Earnings
$1,183
Median Rent
$263,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three distinct residences support owner occupancy alongside established short-term rental use.
Where is this multifamily property located?
The property is located at 1988 W Lake Shore Drive Wilmington, NC.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Three separate spaces: 3‑bedroom, 3‑bath main residence, 2‑bedroom, 2‑bath Lake House, and detached Lake Cottage; 2,374 square feet on 0.93 acres with R‑5 zoning; Lake House and Lake Cottage carry Guest Favorite status with 4.96 and 4.93 ratings
