54-Unit Apartment
For Sale
$10,750,000
145 Lullwater Drive, Wilmington, NC 28403
Rental holdings include multiple residential formats and two apartment-style condominium buildings.
Property Size41,315 SF
Price / SF$260.20
Days on Market299
Property Features for 145 Lullwater Drive
General Information
Standard status
Active
Size
41,315 SF
Property subtype
Commercial Sale / Multi Family
Zoning
Mixed
Occupancy
100%
Net Operating Income
$630,043
Additional Details
Gross Income
$800,000
Multifamily Units
54
Taxes and HOA fees
Annual Taxes
$38,575
Amenities
Other, Yes
Yes, Other
See Remarks
MLS
0.0
Building Details
Year Built
1919
Listing Agency:
Intracoastal Realty Corp
(910) 512-2205
Listed By:
Jeffrey G Hovis · License #234605
(910) 512-2205
Source:
Compass
Added: Nov 4, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Intracoastal Realty Corp
Investment Insights
Based on property information with market context.
This Wilmington rental portfolio includes 54 income-producing units distributed across several residential formats. The holdings include 24 apartment-style condominium units located in two buildings, supplemented by quadplexes, triplexes, duplexes, and single-family homes. The combination creates a varied residential asset base within one offering.
The properties are situated near downtown Wilmington at 145 Lullwater Drive. Zoning is identified as Mixed. Recent capital improvements have been completed throughout the portfolio, addressing property condition and supporting day-to-day operations. The offering provides an established collection of residential rental assets rather than a single-building investment.
The properties are situated near downtown Wilmington at 145 Lullwater Drive. Zoning is identified as Mixed. Recent capital improvements have been completed throughout the portfolio, addressing property condition and supporting day-to-day operations. The offering provides an established collection of residential rental assets rather than a single-building investment.
Key Highlights
- 54‑unit residential rental portfolio
- 24 apartment‑style condo units in two buildings
- Additional quadplex, triplex, duplex, and single‑family home assets
Property Analytics
Property Profile
Current Use
Lease Details
54
Residential units
Location Intelligence
Trade Area within ½ mile
1,157
Businesses Nearby
Explore this area
Business Placement
Demographics for 28403, NC
38,134
Population
20,424
Households
1.9
Avg Household Size
30
Median Age
48%
College-Educated
94%
High-School Grad
14.0 sq mi
ZIP Area
2,724
Density / Sq Mi
$50,988
Median Household Income
$30,991
Median Earnings
$1,293
Median Rent
$337,600
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?
Apartment building - Rental holdings include multiple residential formats and two apartment-style condominium buildings.
Where is this apartment building located?
The property is located at 145 Lullwater Drive Wilmington, NC.
What is the asking price?
The asking price for this property is $10,750,000.
What are key features of this property?
This property features: 54‑unit residential rental portfolio; 24 apartment‑style condo units in two buildings; Additional quadplex, triplex, duplex, and single‑family home assets
