TOP-FLOOR, turnkey investment opportunity in one of downtown Wilmington's premier riverfront condo buildings. Unit 907 is a fully furnished 1BR/1BA with 585 sq. ft., large enclosed balcony, and unobstructed Cape Fear River views. The property boasts an outstanding rental history (over $35K gross rental income in 2024) with proven demand across short-, medium-, and long-term stays. Key upgrades include a remodeled kitchen and bath plus a new HVAC installed in May 2024. Unlike many comparable units, this condo features a full kitchen, making it attractive to extended-stay tenants such as traveling professionals. HOA permits short-term rentals, a rare distinction in the Historic District, broadening income potential. Property is offered fully furnished and stocked, allowing for immediate income generation. Located on the 9th floor, residents enjoy quiet separation from downtown street activity and some of the best sunset views in Wilmington. Strong guest reviews consistently highlight comfort, views, and location. Ideal for investors seeking a proven, flexible income stream, or for buyers wanting a second home with offsetting rental revenue. Contact listing agent for showing instructions, as unit is frequently occupied.
Property Features
Bedrooms
- Bedrooms: 1
- Primary Bedroom Dimensions: 11' x 11'
- Primary Bedroom Level: Main
Other Rooms
- Total Rooms: 3
- Living Room Dimensions: 15' x 11'
- Living Room Level: Main
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
Interior Features
- High Ceilings
- Kitchen Island
- Elevator
- Ceiling Fan(s)
- Furnished
- Flooring: LVT/LVP
Appliances
- Electric Oven
- Built-In Microwave
- Washer
- Refrigerator
- Dryer
Heating and Cooling
- Heating Features: Heat Pump, Electric
- Heating: Yes
Kitchen and Dining
- Kitchen Dimensions: 8' x 7'
- Kitchen Level: Main
Exterior and Lot Features
- Patio And Porch Features: Covered
- Road Frontage Type: City Street, State Road
- Street Additional Info: 907
Garage and Parking
- Other Parking: Owner - 1st Come/1st
- Parking Features: Parking Lot, Lighted, Off Street, On Site
Home Features
- View: Marsh View, River, Water
- Security Features: Fire Sprinkler System, Smoke Detector(s)
Homeowners Association
- Association: Yes
- Association Amenities: Roof Maintenance, Elevator(s), Flood Insurance, Maint - Comm Areas, Maint - Grounds, Maintenance Structure, Management, Master Insure, Pest Control, Sewer, Sidewalk, Termite Bond, Trash, Water
- Association Fee: 4800
- Association Fee Frequency: Annually
- Calculated Total Monthly Association Fees: 400
- Association Name: Water Street Center Association
- Association Phone: 9106209436
- Pets Allowed: Pets Allowed
School Information
- Elementary School: Snipes
- High School: New Hanover
- High School District: New Hanover
- Middle School: Williston
- School District: New Hanover
Multi-Unit Info
Rental Info
- Lease Term: Short Term Lease
Other Property Info
- Annual Tax Amount: 2444
- Source Listing Status: Active
- County: New Hanover
- Directions: Starting at the intersection of Chestnut Street and Front Street, head west on Chestnut and turn left on Water St.
- Tax Year: 2025
- Source Property Type: Residential
- Property Subtype: condo
- Source Neighborhood: Water Street Center Condo
- Parcel Number: R04720-007-023-103
- Property Location: Mainland
- Subdivision: Water Street Center Condo
- Zoning: CBD
- Property Subtype: Condominium
Building and Construction
- Total Square Feet Living: 585
- Year Built: 2000
- Building Area Total: 585
- Construction Materials: Concrete, Brick, Brick Veneer
- Foundation Details: Slab
- Levels: 4th Floor or Higher Unit
- Property Age: 25
- Roof: Flat
- Levels or Stories: 1
- Structure Type: Wood Frame
- Total Area Sqft: 585
- Elevator: Yes
Utilities
- Sewer: Municipal Sewer
- Sewer Connected
- Water Connected
- Water Source: Municipal Water
