Pelican Watch Condos for Sale Carolina Beach oceanfront foreclosure

Pelican Watch condos for sale is one of the most impressive oceanfront condominiums in the region.  I remember doing due diligence on it before and finding over $1,000,000 in their reserve account. It's been run largely without special assessments and they rent for top dollar having 2 swimming pools.  Back around 2015 the building received extensive renovations and updates to balconies, etc. The building is so impressive.  The challenge is that a few years ago the 2/2 units were selling for $300,000 and now they are worth $350,000.... Scratch that! That is very old market data.  In the 2023 year the 2 bedroom units you now have $550,000; the main page for Carolina Beach condos is here. 

In 2021 following the Miami condo disaster with deteriorated concrete an inspection found a sound structure...but the stairs were deemed corroded and rentals were cancelled costing owners $10,000s of lost revenue. In addition there were $30,000 assessments on owners so it was brutal.  

2024 update on Pelican Watch

In 2022 there was roof assessment for new roof for the building.  The point being that now is ideal time to buy into the building 2024 as previous owners have paid up $$$ to get building current!  the 3BRs are going in the mid-600s but some have closed in low 700s. Hard to come by rental income numbers -- usually 20K/room is what potential is with competent property manager. But those are hard to find unfortunately.  

Pelican Watch update 2019

These units have had the biggest appreciation of all the carolina beach oceanfronts perhaps. The 2/2s with 1150 square feet are now in the 400s.  My clients who bought the past few years and blown away in a good way. 2 recent Pelican Watch condos

Active Pelican Watch Condos

Pelican Watch April 24, 2024
10
Listed
145
Avg. DOM
$573.30
Avg. $ / Sq.Ft.
$645,000
Med. List Price
10 Properties
Sold
Address Withheld Carolina Beach,  NC 28428
$620,000
Neighborhood: Pelican Watch
3
Beds
2
Baths
1,190
Sq.Ft.
1984
Year Built
3/28/24
Sold On
100371150
MLS
$750,000
Neighborhood: Pelican Watch
3
Beds
2
Baths
1,151
Sq.Ft.
1984
Year Built
29
Days on Site
100433399
MLS
Sold
1403 S Lake Park Blvd Carolina Beach,  NC 28428
$625,000
Neighborhood: Pelican Watch
3
Beds
2
Baths
1,136
Sq.Ft.
1984
Year Built
1/30/24
Sold On
100403372
MLS
Sold
1403 Lake Park Blvd S Carolina Beach,  NC 28428
$665,000
Neighborhood: Pelican Watch
3
Beds
2
Baths
1,145
Sq.Ft.
1984
Year Built
12/15/23
Sold On
100401372
MLS
Pending
1403 Lake Park Blvd S Carolina Beach,  NC 28428
$665,000
Neighborhood: Pelican Watch
3
Beds
2
Baths
1,138
Sq.Ft.
1984
Year Built
267
Days on Site
100397669
MLS
Sold
1403 Lake Park Blvd S Carolina Beach,  NC 28428
$715,000
Neighborhood: Pelican Watch
3
Beds
2
Baths
1,135
Sq.Ft.
1984
Year Built
7/27/23
Sold On
100391350
MLS
Sold
1403 S Lake Park Blvd Carolina Beach,  NC 28428
$679,000
Neighborhood: Pelican Watch
3
Beds
2
Baths
1,152
Sq.Ft.
1984
Year Built
7/18/23
Sold On
100348781
MLS
Sold
1403 S Lake Park Blvd Carolina Beach,  NC 28428
$490,000
Neighborhood: Pelican Watch
2
Beds
2
Baths
1,026
Sq.Ft.
1984
Year Built
8/16/22
Sold On
100329810
MLS
Sold
1403 S Lake Park Blvd S Carolina Beach,  NC 28428
$620,000
Neighborhood: Pelican Watch
2
Beds
2
Baths
995
Sq.Ft.
1984
Year Built
3/1/22
Sold On
100309603
MLS
Sold
1403 S Lake Park Blvd Carolina Beach,  NC 28428
$525,000
Neighborhood: Pelican Watch
2
Beds
2
Baths
1,000
Sq.Ft.
1984
Year Built
1/28/22
Sold On
100305954
MLS