$3,200,000

407 Maides Avenue, Wilmington, NC 28405

  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon —— sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 14 days ago

Property Description

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.

Listing Status:
Active
Date Added:
November 26, 2025 at 06:00AM
Listing Office:
REAL BROKER LLC : 919-348-2585
Listing Agent:
IRONWOOD REALTY GROUP POWERED BY REAL BROKER LLC : 910-227-4339
MLS ID:
LP753894
  • A/C:
  • Heating:
  • Originating MLS: Triangle MLS
  • County: New Hanover
  • Zoning: R04909010027000
  • Water: Other
  • Sewer: Other
  • Source: Triangle MLS

This listing courtesy of IRONWOOD REALTY GROUP POWERED BY REAL BROKER LLC, REAL BROKER LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

R

Rachel Freeman School of Engineering

2601 Princess Place Dr, Wilmington, NC, 28405

Grades KG-5

0.66 miles away

C

Career Readiness Academy at Mosley Plc

3702 Princess Place Dr, Wilmington, NC, 28405

Grades 6-12

0.12 miles away

C

Career Readiness Academy at Mosley Plc

3702 Princess Place Dr, Wilmington, NC, 28405

Grades 6-12

0.12 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.