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    145 Lullwater Drive Wilmington, NC 28403

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    Claim this Listing
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    For Sale
    $3,550,000

    MULTI_FAMILY - Wilmington, NC

    Property size:
    13,320 SF
    Lot size:
    1.40 Acres
    Price / SF:
    $266/SF
    Added:
    Apr 26, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 28 at 4:06 pm

    Property Features for 145 Lullwater Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MD-17
    Parking
    34
    Parking features
    Parking Lot, Off Street
    Standard status
    Active
    APN
    R04915-003-005-000
    Size
    13,320 SF
    Lot size
    1.40 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    See Property Information Sheet in Listing Documents
    Tax Annual Amount
    15185

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1997
    Number of units
    24
    Flooring type
    Carpet, Vinyl
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    Jeffrey G Hovis
    Jeffrey G Hovis

    Listing agent Jeffrey G Hovis License #234605

    Listing office Intracoastal Realty Corp 1900 Eastwood Road, Suite 38, Wilmington, NC

    Listing date Apr 26, 2026

    MLS# 100569678

    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.


    Overview

    Wilmington Multifamily Investment Opportunity

    This twenty-four unit multifamily property is located near UNCW, shopping, local businesses, downtown, and area beaches. The property features sixteen one-bedroom/1.5-bath units and eight two-bedroom/2-bath units. The property generates approximately $309,000 in annual rental income, with potential to reach up to $425,664 through voucher-based programs. Each unit is individually metered with separate utilities and is structured as a condominium. The property is located in Wilmington, NC, and is situated on a 1.4-acre lot. The building has a total area of 13,320 square feet. The zoning is MD-17. An existing assumable Freddie Mac loan (subject to buyer approval) provides a highly attractive, below-market interest rate. This property presents an opportunity for investors seeking stable cash flow with upside potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Daycare Center Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.882948
    Latitude
    34.239922

    FAQs

    What type of property is this?
    Apartment building - 24-unit multifamily property near UNCW with income upside.
    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 $3,550,000.
    What are key features of this property?
    This property features: Assumable Freddie Mac loan with below‑market interest rate.; High income potential: Currently generates $309,000 annually, with potential to reach $425,664.; Ideally located near UNCW, shopping, businesses, downtown, and beaches.
    More about this property
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