Wilmington, NC 28405,407 Maides Avenue
Wilmington, NC 28405,407 Maides Avenue
Wilmington, NC 28405,407 Maides Avenue
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Listed by REAL BROKER LLC
$2,800,000
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Price Dropped by $300K

407 Maides Avenue Wilmington, NC 28405

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Epique Realty

Epique Realty

+1(512) 387-0722

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

MLS Listing ID LP753894

Source Triangle MLS

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.

Location

State NC

County New Hanover

Exterior

View Y/N Yes

Private Pool No

Building

Sewer Other

Water Other

Schools

Middle Schools New Hanover County Schools

High Schools New Hanover County Schools

Others

Senior Community No

Tax ID R04909010027000

Doorify MLS / Triangle MLS

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES
Elementary Schools 19
  • 5

    Douglass Academy

    Public | KG - 2

  • 5

    Winter Park Model Elementary School

    Public | KG - 5

  • 5

    College Park Elementary School

    Public | KG - 5

  • 4

    Sunset Park Elementary School

    Public | KG - 5

  • 3

    Edwin a Alderman Elementary School

    Public | KG - 5

  • 2

    Gregory School of Math, Science, and Tec

    Public | KG - 5

  • 2

    R Freeman School of Engineering

    Public | PK - 5

  • 1

    A H Snipes Academy of Arts/Des

    Public | PK - 5

  • 1

    Forest Hills Global Elementary School

    Public | PK - 5

  • 0

    St Mary Catholic School

    Private | PK - 8

  • 0

    Lake Forest Academy

    Public | KG - 8

  • 0

    Calvary Christian School

    Private | PK - 8

  • 0

    Peace Rose Montessori School

    Private | PK - 2

  • 0

    Wilmington Seventy-Day Adventist School

    Private | KG - 7

  • 0

    Hill School of Wilmington

    Private | 1 - 8

  • 0

    Wesley Memorial Child Education Center

    Private | KG - TKG

  • 0

    The Children's Schoolhouse of Wilmington

    Private | PK - TKG

  • 0

    Point Institute

    Private | 5 - 12

  • 0

    Wilmington Christian Academy

    Private | 1 - 12

Middle Schools 5
  • 5

    Roland-Grise Middle School

    Public | 6 - 8

  • 1

    D.C. Virgo Preparatory Academy

    Public | 6 - 7

  • 1

    Williston Middle School

    Public | 6 - 8

  • 0

    Pathways Middle and High School

    Private | 6 - 12

  • 0

    Lakeside

    Public | 6 - 12

High Schools 4
  • 8

    John T Hoggard High School

    Public | 9 - 12

  • 8

    Isaac M Bear High School

    Public | 9 - 12

  • 4

    New Hanover High School

    Public | 9 - 12

  • 0

    Mary Sidberry Mosley Plc

    Public | 9 - 12

School and business data provided by Attom Data.

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Epique Realty

Epique Realty

Company | License ID: DRE01797917

+1(512) 387-0722

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407 Maides Avenue