Bonham Bay Townhouses | 942-944 Bonham Ave
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Bonham Bay Townhouses 942-944 Bonham Ave
11 Unit Apartment Building $2,495,000 ($226,818/Unit) 6% Cap Rate Wilmington, NC 28403
Investment Highlights
- 100% occupied, Centrally Located
Executive Summary
Bonham Bay Townhomes are conveniently located in the Mid-Town area of Wilmington North Carolina. This property has good occupancy rates and is seeing increasing rent rates too. Bonham Bay Townhomes consists of 11 townhome units, all of which are approximately 1,000 square feet in size. Each unit has two bedrooms, two full bathrooms, powder room, private entry, outdoor patio, and off-street parking.
The property is located close to Downtown Wilmington, UNCW, CFCC, Shopping, Entertainment, Medical Services, Public Transportation, Beaches and so much more. The current owners have upgraded the units, stabilized rents, and opened the opportunity to grow this investment. Property is currently managed professionally, and operations are turnkey for the next investor. The Multifamily zoning classification opens development opportunities. Complete financial information is available from the listing agent.
The property is located close to Downtown Wilmington, UNCW, CFCC, Shopping, Entertainment, Medical Services, Public Transportation, Beaches and so much more. The current owners have upgraded the units, stabilized rents, and opened the opportunity to grow this investment. Property is currently managed professionally, and operations are turnkey for the next investor. The Multifamily zoning classification opens development opportunities. Complete financial information is available from the listing agent.
Data Room Click Here to Access
- Offering Memorandum
- Market Information
- Operating and Financials
- Title and Insurance
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,495,000 | Building Class | C |
| Price Per Unit | $226,818 | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 11,534 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1991/2019 |
| Property Subtype | Apartment | Parking Ratio | 2.17/1,000 SF |
| Apartment Style | Townhome |
| Price | $2,495,000 |
| Price Per Unit | $226,818 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 11,534 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1991/2019 |
| Parking Ratio | 2.17/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Refrigerator
- Wi-Fi
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 11 | $1,538 | - |
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PROPERTY TAXES
| Parcel Number | R05514-001-024-000 | Improvements Assessment | $1,058,500 (2023) |
| Land Assessment | $107,500 (2023) | Total Assessment | $1,166,000 (2023) |
PROPERTY TAXES
Parcel Number
R05514-001-024-000
Land Assessment
$107,500 (2023)
Improvements Assessment
$1,058,500 (2023)
Total Assessment
$1,166,000 (2023)
zoning
| Zoning Code | MF-M (MF-M) |
| MF-M (MF-M) |
-
Power Broker Jeff Hovis -
Intracoastal Realty Corporation
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Bonham Bay Townhouses | 942-944 Bonham Ave
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