The Riggings Condominium for sale Kure Beach NC
Details on The Riggings Condo Kure Beach
2023 update — owner told me that he grossed $42,000 in 2022.
The riggings condominium in Kure Beach North Carolina is amazing. It is found at the end or south end of Kure Beach. Therefore when you reside there it says if you have the entire Beach to yourself into having your own Island Getaway. Reviews that the riggings condominium in Curie are amazing. The condo sits very close to the water which to some is a negative but too many others including renters it is a positive. That being said if your unit is in the second row it’s it’s about 60 ft back from the ocean so it’s not a big deal. Some lenders will differentiate between the front row such as the end and pee buildings versus the second row with the H and I tiers.  I would feel comfortable owning on any of the tiers. The condominium is also unique in that it owns 2 Acres of property across the street. So theoretically if a category 5 hurricane wiped out their buildings they could rebuild across the street just fine with their insurance money. I do not know of any other condominium in southeast North Carolina that has extra anchors to work with at their disposal. That’s pretty classic. Now the bottom line on these as of 2022 is that they’re worth about $310,000 for example. And what is remarkable or telling or a selling point is that they can gross $35,000 a year which makes the numbers exceptional in today’s vacation rental Oceanfront Beach Market in North Carolina including Kure Beach. for some time now most of the homes for sale have only been offering a 6 or 7% of sales price rental income Revenue projection for results. But these are right at 10% and I love them even though they do have some erosion drama with them. You can find the rest of North Carolina Oceanfronts here.
