132 Telephone Rd, Wilmington, NC 28403

Property Description

** First offer to purchase has been submitted to court today, January 26 2024. Upset bid period day one is tomorrow 1/27/2024. Price: $400,000; EMD $4000; DD expiration 2/23/2024: Closing 3/6/2024 ** Includes 130 Telephone Road. A fantastic location in the heart of Wilmington. Conveniently located off the Rogersville Road, close to the shopping centers of Mayfaire and Lumina Station as well as UNCW and beautiful Wrightsville beach. Great investment opportunity. Property has two dwellings that are grandfathered in. Stick built home is a charming cottage built in 1936. Manufactured home was added to property in 2005 with metal roof installed in 2020. Manufactured home is 1300sf, three bedrooms, two baths dwelling. For more information see the attached floor plan. Manufactured home has non-functional heating. Electricity and water have been shut off in the stick build home. There is a non-functional above-ground oil-tank attached to the stick-built home. Additionally, there is a workshop with a bathroom and a kitchenette and two sheds on the property. Part of the Telephone Rd up to the property has no Road maintenance agreement. There is no HOA. The sale of this property requires court approval. Please see all the attached documentation. The applicable General Statute is NCGS 35A, Subchapter III, Article 14, Section 1301 et seq; the statute for the sale of a Ward's Property. It requires a Special Proceeding to have a private sale approved. An approved sale is subject to the 10-day upset bid period; all upsets are also subject to 10-day upset bid periods. All offers need to include the addendum attached in MLS document section.