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    407 Maides Ave Wilmington, NC 28405

    For Sale
    $3,200,000

    MULTI_FAMILY - Wilmington, NC

    Days on Market:
    13
    Last Refresh:
    Dec 8 at 4:06 am

    Property Features for 407 Maides Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    R04909-010-027-000

    Building Details

    Number of units
    19

    REAL BROKER LLC (910) 338-9410

    Listing agent IRONWOOD REALTY GROUP POWERED BY REAL BROKER LLC (919) 348-2585 License #.

    Listing date Nov 26, 2025

    MLS# 753894 Listing URL

    Copyright © 2025 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Investment in Wilmington, NC

    This multifamily property in a Wilmington neighborhood presents an investment opportunity with potential for increased rents. The property is currently cash flowing over $20,000 per month, with three vacancies being filled that will push rents closer to $25,000. The property features a mix of units, from duplexes to quadplexes. Significant renovations have been completed on over half of the property. The current value is estimated 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. Each property has recently had up to $30,000 worth of updates. For developers, drafted plans to replace existing structures with new construction townhomes estimate a post-build value of around $10M with about $3M in construction costs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Foolproof Roofing & Repairs ... Roofing Contractor Jimenez Landscaping and Roofing ... Contractor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.902197
    Latitude
    34.245125

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property with income and redevelopment potential in Wilmington.
    Where is this apartment building located?
    The property is located at 407 Maides Ave Wilmington, NC.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: - Significant cash flow potential: Currently cash flowing over $20,000 per month, with potential to reach $25,000 as vacancies are filled.; - Value-add opportunity: Property value is estimated between $3.8M and $3.9M, with an appraised ''as repaired'' value of $4.5M.; - Recent renovations: Up to $30,000 in recent updates per property to meet current market standards.
    (919) 348-2585
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    407 Maides Ave Wilmington, NC 28405
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    Wilmington, NC 28405
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    407 Maides Ave Wilmington, NC 28405
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