407 Maides Avenue, Wilmington, NC 28405
Local realty services provided by:CENTURY 21 Total Real Estate Solutions
407 Maides Avenue,Wilmington, NC 28405
$2,800,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Pending
Listed by: ironwood realty group powered by real broker llc., loretta hinson
Office: real broker llc.
MLS#:LP753894
Source:RD
Price summary
- Price:$2,800,000
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....
Contact an agent
Home facts
- Listing ID #:LP753894
- Added:154 day(s) ago
- Updated:April 30, 2026 at 07:30 AM
Schools
- High school:New Hanover County Schools
- Middle school:New Hanover County Schools
Finances and disclosures
- Price:$2,800,000
New listings near 407 Maides Avenue
- New
$429,000Active3 beds 2 baths1,771 sq. ft.4900 Merlot Court, Wilmington, NC 28409
MLS# 100560677Listed by: BERKSHIRE HATHAWAY HOMESERVICES CAROLINA PREMIER PROPERTIES - New
$3,250,000Active4 beds 4 baths4,420 sq. ft.1132 S Seabreeze Road, Wilmington, NC 28409
MLS# 100570458Listed by: KELLER WILLIAMS INNOVATE-WILMINGTON - New
$2,250,000Active3 beds 4 baths2,390 sq. ft.1128 S Seabreeze Road, Wilmington, NC 28409
MLS# 100570451Listed by: KELLER WILLIAMS INNOVATE-WILMINGTON - New
$975,000Active3 beds 3 baths3,388 sq. ft.140 Spring Creek Lane, Wilmington, NC 28411
MLS# 100570429Listed by: MASONBORO REALTY, INC. - New
$1,175,000Active4 beds 3 baths3,050 sq. ft.117 Chimney Lane, Wilmington, NC 28409
MLS# 100570431Listed by: REAL BROKER LLC - New
$650,000Active4 beds 3 baths2,489 sq. ft.602 Southerland Farm Drive, Wilmington, NC 28411
MLS# 100570386Listed by: RE/MAX ESSENTIAL - New
$1,200,000Active4 beds 4 baths3,297 sq. ft.5913 Hunters Mill Lane, Wilmington, NC 28409
MLS# 100570394Listed by: NEST REALTY - Open Sun, 2 to 4pmNew
$995,000Active4 beds 3 baths3,284 sq. ft.5600 Lands End Court, Wilmington, NC 28409
MLS# 100570407Listed by: INTRACOASTAL REALTY CORPORATION - New
$130,000Active0.1 Acres1221 S 8th Street, Wilmington, NC 28401
MLS# 100570418Listed by: DANA BLANKS REAL ESTATE INC. - New
$130,000Active0.11 Acres1223 S 8th Street, Wilmington, NC 28401
MLS# 100570419Listed by: DANA BLANKS REAL ESTATE INC.