510 W St George
Property Description
Grandfathered short-term rental rights in downtown Southport -- the one thing investors can't buy anymore, and this five-unit has it. Four bright 2BR/2BA units built in 2019 plus a private cottage, set on a quarter-acre pond-front lot three blocks from the shops, restaurants, and waterfront of one of North Carolina's most beloved coastal towns. The opportunity pencils two ways: projected at $150,000 gross on all annual leases, or blend in short-term rentals on two units and the pro forma reaches $181,250 gross -- roughly a 7.2% projected cap at asking. Newer construction keeps maintenance light, tenants pay their own utilities, and Oak Island's beaches are minutes away. A walkable, water-view income property with a licensing moat around it -- the kind of Southport offering that comes along once a cycle. Pro forma projections available; buyers to verify all figures and rental permissions. Offered at $1,699,900.
Broker Details
Berkshire Hathaway HomeServices Carolina Premier Properties (910) 431-2498
MLS ID: 550008767 State License Number: 340946
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,699,900 |
| No. of Units: | 4 |
| Year Built: | 2019 |
| Lot Size: | 5,268.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $424,975 |
| Property Website | Click Here |
| Number of Bedrooms: | 10 |
| Number of Bathrooms: | 9 |
ID: 3yd-HIVEMLSNC-100590676
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