Active · Southport
510 W St George Street
Southport, NC 28461
$1,699,900
- Bedrooms
- 10
- Bathrooms
- 9
- Year built
- 2019
Listing provided courtesy of Berkshire Hathaway HomeServices Carolina Premier Properties MLS# 100590676
A closer look
About this property
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.
Interior features
- Bedrooms
- 10
- Interior
- Kitchen Island
- Appliances
- Electric Oven, Electric Cooktop, Refrigerator
- Flooring
- LVT/LVP
- Heating
- Heat Pump, Electric, Forced Air
- Cooling
- Central Air, Heat Pump
- Levels
- One
- Laundry features
- Dryer Hookup, Washer Hookup
- Laundry location
- Hookup - Dryer, Hookup - Washer
Exterior & grounds
- Lot size (acres)
- 0.25
- Lot features
- Interior Lot
- Lot dimensions
- 61x208x57x194. 59x194x54x181
- Foundation
- Slab
- Views
- Pond
- Construction
- Brick Veneer, Vinyl Siding, Wood Frame
- Roof
- Shingle
- Parking
- Shared Driveway, Gravel
- Garage spaces
- 4
- Patio & porch
- Patio, Porch
- Fencing
- None
- Waterfront
- No
- Waterfront features
- None
- Pool / spa details
- None
Community & association
- Community
- Not In Subdivision
- Homeowners association
- No
Utilities
- Utilities
- Electricity Connected, Sewer Connected, Water Connected
- Water source
- Public
Schools
- Elementary school
- Southport
- Middle school
- South Brunswick
- High school
- South Brunswick
School assignments should be independently verified with the school district.
Property information
- Property type
- Residential Income
- Property subtype
- Quadruplex
- Year built
- 2019
- New construction
- No
- MLS#
- 100590676
- County
- Brunswick
- Zoning
- SP-MF