407 Maides Avenue, Wilmington, NC 28405
Local realty services provided by:Better Homes and Gardens Real Estate Elliott Coastal Living
407 Maides Avenue,Wilmington, NC 28405
$3,200,000
- 35 Beds
- 19 Baths
- 13,104 sq. ft.
- Multi-family
- Active
Listed by: loretta hinson
Office: real broker llc.
MLS#:100540410
Source:NC_CCAR
Price summary
- Price:$3,200,000
- Price per sq. ft.:$244.2
About this home
Unlock a rare opportunity to own a well-performing multifamily property on a single parcel in a highly sought-after Wilmington neighborhood, currently cash flowing over $20,000 per month with three vacancies being filled that will push rents closer to $25,000, and with plenty of room to increase rents further. Amazing investment opportunity on this home with income potential for years. Each property has recently had up to $30,000 worth of updates that have brought it up to today's market standards. Step inside to discover modern finishes, refreshed interiors, and thoughtful upgrades that enhance comfort and appeal to long-term tenants. With strong rental demand in the area, this property offers consistent cash flow and room for appreciation. Whether you're expanding your portfolio or entering the market for the first time, this turnkey home stands ready to perform. Featuring a diverse mix of units from duplexes to quadplexes, the property has undergone significant renovations—over half completed—positioning its current value between $3.8M and $3.9M, with an appraised ''as repaired'' value of $4.5M and a recent ''as is'' appraisal of $3.2M at purchase. For developers, drafted plans to replace existing structures with new construction townhomes estimate a post-build value of around $10M with only about $3M in construction costs, presenting massive upside. This is a standout multifamily investment offering immediate income, undeniable value-add potential, and long-term redevelopment opportunity in one of the region's most promising markets.
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Home facts
- Year built:1986
- Listing ID #:100540410
- Added:1 day(s) ago
- Updated:November 26, 2025 at 02:50 AM
Rooms and interior
- Bedrooms:35
- Total bathrooms:19
- Full bathrooms:19
- Living area:13,104 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Electric, Heat Pump, Heating
Structure and exterior
- Roof:Architectural Shingle
- Year built:1986
- Building area:13,104 sq. ft.
- Lot area:2.4 Acres
Schools
- High school:New Hanover
- Middle school:Holly Shelter
- Elementary school:Other
Finances and disclosures
- Price:$3,200,000
- Price per sq. ft.:$244.2
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