If you’re in the market for a unique real estate opportunity, look no further than this Wilmington duplex for sale. What makes this property stand out from the rest is its very rare legalized boarding houses setup. The package includes two single-family homes and two duplexes, totaling six units and 25 rooms. Located at 718 Church, 720 Church, 905 Rankin A&B, and 708 Campbell Street A&B, this property has the potential to bring in over $16,000 per month.
One of the most appealing aspects of this property is the letters from the city permitting ‘Rooming houses.’ This legal recognition holds tremendous value, as it ensures a reliable and stable income stream. In fact, there is currently a significant waitlist of potential tenants eager to secure a spot in these rooming houses. Additionally, reputable companies such as Trillium and Sec 8 have shown interest in renting these units, further solidifying the property’s potential for high demand.
The versatility of this property is another incredible feature. Besides functioning as a boarding house setup, it could also serve as a halfway house or senior living facility. These alternative options often command even higher rental rates per room, making this property an even more lucrative investment opportunity.
In terms of maintenance and upgrades, the property has been well taken care of. All roofs are relatively new, having been replaced within the past six years. The HVAC systems are all under warranty, providing peace of mind to the future owner. Additionally, the properties have undergone recent renovations, including new floors and fresh paint. The windows have also been upgraded, ensuring energy efficiency and improved aesthetics.
For serious buyers, providing proof of funds will grant access to all financial records related to the property. This transparency allows potential investors to make well-informed decisions based on accurate financial data.
Overall, this Wilmington duplex for sale is a one-of-a-kind opportunity that should not be overlooked. With its rare legalized boarding houses setup, potential for high rental income, and various usage options, it presents a unique investment proposition. The property’s well-maintained condition and recent upgrades further add to its appeal. Don’t miss out on the chance to own this exceptional piece of real estate in a thriving market.