705 Canal Drive $1,300,000

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    705 Canal Drive Carolina Beach, NC 28428

    Closed
    SOLD 10/1/2020

    $1,300,000

    • 6 Beds
    • 4 Baths
    • 2,670 sq. ft.
    • Residential
    • MLS# 100230877
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    Property Details

    ICWW front multifamily with adjacent vacant lot located a close to public beach access. Residence includes TWO separate 3-bed 2-bath units (2670 sqft combined), plus an additional boathouse with full bath and kitchenette; boathouse and both units are separately metered. Duplex units provide expanded options for owner occupancy, long and short-term rental income; boathouse offers a studio for visiting owners when duplex units are occupied. Currently: upper unit is rented weekly, lower unit is rented monthly and boathouse is used by visiting owner and guests. The residence water structures including three slips, deck, gazebo and boathouse are all authorized installations under grandfathered status, extreme duty concrete bulkhead and piling reinforcements are in place to preserve future rights. The lot has 2 slips and rare privately owned boat ramp with full concrete approach + good water depth, ramp was reinforced with substantial poured concrete just before legal restrictions. For commercial fishermen & dive enthusiast, boathouse is equipped with 3-phase electric suitable for commercial grade equipment & high demand vessels. Proactive updates including roof replacement, new windows, damage resistant tile and concrete floors, etc; the boathouse roof & structural elements have been recently updated to the extent allowed by grandfathered status (<50%). With many of the core systems updated, the new owners can concentrate on interior & decor preferences. 707 Canal has more dry land area than many lots on Canal, a rare benefit. Residence & vacant lot parcels are zoned R-1 that permits single family and two family structures. The properties combine to offer a truly unique opportunity for owner occupancy, income and future development.

    • General Features
      • City Limits Yes
      • County New Hanover
      • Hoa No
      • Cobra Zone No
      • Lot Acres 0.36
      • New Construction No
      • Full Bathrooms 4
      • Half Bathrooms 0
      • Bedrooms 6
      • Square feet 2,670
      • Stipulation of Sale None
      • Subdivision Other
      • Waterfront Yes
      • Waterview Yes
      • Year Built 1970
    • Building Features
      • Flooring Concrete, Tile
      • Foundation Pilings, Slab
      • Interior Features None
      • Porch Balcony Deck Covered, Deck, Porch
      • Construction Wood Frame
      • Construction Type Stick Built
      • Cooling System Central
      • Exterior Features None
      • Exterior Finish Brick Veneer, Composition
      • Fireplace None
    • Property Features
      • Fencing Partial
      • Lot Water Features Boat Dock, Boat Ramp, Boat Slip, Bulkhead, Canal Front, Canal View, ICW Front, ICW View, Sailboat Accessible, Sound Front, Sound Side, Water Depth 4+
      • Road Type Frontage Paved,Public (City/Cty/St)
    • Schools
      • Elementary School Carolina Beach
      • Middle School Murray
      • High School Ashley

    Neighborhood

    28428 (Carolina Beach) Demographics

    44 Median Age
    1,267 Population Density (per sq. mile)
    50% College Educated
    $61,660 Estimated Median Income
    1,513 Estimated Total Home Owners
    1,196 Estimated Total Renters
    56% / 44% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    6,517 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $394,000 Median Sales Price
    39 Homes Sold
    56 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source New Value: $0 -100%
        10/1/2020 3:00:00 AM Sold Source New Value: $1,300,000
        8/20/2020 9:35:46 PM Status Changed Source New Value: Pending with Showings
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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.