Shell Island Resort Condos for sale in Wrightsville Beach, NC
This is a summary of the active Shell Island Resort condos for sale in Wrightsville Beach NC nearby Wilmington NC real estate. It should be noted this is a concrete or steel building–one of about 15 in the area–and they are much more hurricane friendly than stick built condos. Something to keep in mind. Some people are more comfortable with concrete and steel no doubt.
Generally this condotel with about 100 units gross 39,000 in rent each year. The management fee is 36% and the HOA fee is around 5500. Subtract out taxes and a once every 5 year Inlet Assessment and you net around $13,000/year in pure profit. So if you put enough down (or cash) you cover your expenses and have a wonderful vacation spot each year.
i’ve had several people buy 2nd units here a year after buying their first. In other words the buyers are quite satisfied with their investment $$$. They have appreciated a lot in the past few years where units that used to sell for 240 are now selling for 280,000. Past several 9th floor units have sold for 290,000-300,000. However they used to sell for 375,000 so there is upside left everyone.
I’ve sold 6 of these–all on the buyer side–past 2 years so I’m top buyer agent in the community. Listing agents come to me first….
Wrightsville beach condos is the nicest beach in the region in my opinion–very wide with clear water and a gradual plane so it’s very kid friendly 🙂 I would know with 8 kiddos. Holy smokes!
Shell Island Condo Real Estate Listings
|Price Range:||$269,000 to $325,000||Price Average:||$294,380|
|Size Range:||586 to 590 Sq. Ft.||Size Average:||587 Sq. Ft.|