$1,399,000

118 4th Street

Wilmington NC, 28401

Description

This beautiful Historic property is located right in the heart of Historic Downtown Wilmington. This property is rich with history dating back to 1890. The current owners transformed a Historic Bed and Breakfast into one of the most contemporary accommodation in downtown Wilmington, while still showcasing the unique historical character of the property. This 4,546 square foot property has a transferable four guest room Bed and Breakfast permit. This property comes fully furnished. This grand location also has a private access accessory unit that can serve as a long-term rental. The six master suites enable the innkeeper to provide a quick turnaround to accommodate their guests.The attention to detail can be seen in the beautifully landscaped gardens, beautiful new renovations and the exquisite home decor. This property enjoys Five (5) star ratings on TripAdvisor, Yelp and Google review. Every suite was uniquely designed and has its own personality. All rooms feature high ceilings, crown molding, custom-designed closets and the large original-scale windows provide wonderful natural lighting throughout the property. Guest rooms have WIFI, Smart TVs, Bluetooth speakers, aromatic oil diffusers, in-suite bathrooms and custom fabrics and comforts. The transfer of this business can be seamless as the new owner can benefit from the incredible reputation the Dreams Welcome has established. Estimated Guest Sales are forecasted at $280,000 and investment cap rate projected at 10.8. Seller will assist with transition and some seller sponsored financing is an option. This is an incredible property to add to anyone's portfolio or an incredible place to work and live.

Details

MLS#100214595
Listing TypeFor Sale
Sub-TypeResale
StatusContingent
Year1890
Days On Site37

Features

SQ Feet4,546
Story(s)1
Units1
ZoningHD-R

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Area Information

StateNC
CountyNew Hanover
CityWilmington
Zip Code28401
AreaNew Hanover
Listing VS Median (in 28401)
Price:
$1,399,000
low | high
Med:
$229,500
100% of Average
SqFt:
4,546
low | high
Med:
585
100% of Average
$ / SqFt:
$308
low | high
Med:
$392
22.521031506021% of Average
On Site:
37
low | high
Med:
67
55.223880597015% of Average
Listing Updated: 05/30/2020
MLS Number: 100214595
Listing Provided By:
Jeffrey G Hovis  of  Intracoastal Realty Corp
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