Wilmington, NC 28401 407 Red Cross Street
$695,000
2 more
Presented By: Jeffrey G Hovis with Intracoastal Realty Corp.
Beds • 6
Baths • 4
SQFT • 3,301
Home Details
This four-unit income-producing property is ideally located in the Historic Mixed-Use District of downtown Wilmington, just blocks from the Riverwalk and within close proximity to shopping, dining, entertainment, and local businesses.
The fully leased building features a desirable unit mix of two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, providing steady rental income. With strong occupancy already in place, this property presents an excellent investment opportunity.
There is significant upside potential for increased returns through strategic upgrades and improvements, making it an ideal option for investors looking to add value in a prime downtown location.
Presented By: Jeffrey G Hovis with Intracoastal Realty Corp.
Interior Features for 407 Red Cross Street
Bedrooms
Total Bedrooms6
Bathrooms
Total Baths4
Other Interior Features
SmokingYNNo
Air Conditioning Y/NYes
Attic FeaturesNo Access
BasementNone
Basement (Y/N)No
Fireplace Y/NNo
FlooringLVT/LVP, Tile, Wood
Furnished Y/NUnfurnished
Heating Y/NYes
Interior AmenitiesNone
Laundry FeaturesDryer Hookup, Washer Hookup
Total Stories2
Water HeaterElectric
General for 407 Red Cross Street
AccessibilityNone
AppliancesElectric Oven, Refrigerator
Association AmenitiesNone
Attached Garage No
Carport Spaces0.0
Carport Y/NNo
CityWilmington
Construction MaterialsWood Siding, Wood Frame
CoolingCentral Air
CountyNew Hanover
DirectionsGo north on N 3rd Street, turn right on to Red Cross. Once you cross over N 4th Street the property is on the left. Park on the street.
Elementary SchoolSnipes
Garage Y/NNo
Green Building Verification TypeNone
Gross Income50995.0
HOANo
HeatingElectric, Forced Air
High SchoolNew Hanover
Home Warranty Y/NNo
In City Limits? (Y/N)Yes
IslandOrMainlandMainland
Land Lease Y/NNo
Lease Considered Y/NNo
Legal DescriptionPt Lots 4/5 Blk 235 Wilmington
LevelsTwo
Lot Size Square Feet5227.0
Lot Size UnitsAcres
Middle/Junior High SchoolWilliston
New ConstructionNo
Number Of Units Total4
Operating Expense10935.0
Parcel NumberR04813-028-018-000
Patio/Porch FeaturesPorch, Rear Porch
PossessionClose Of Escrow, Subject To Tenant Rights, At Closing
Property Attached Y/NNo
Property SubtypeQuadruplex
Property TypeResidential Income
RoofShingle
Standard StatusActive
StatusActive
Structure TypeWood Frame
Subdivision NameHistoric District
Tax Assessed Value220500
Tax Year2025
Taxes$1,298
UtilitiesElectricity Connected, Sewer Connected, Water Connected
ViewSee Remarks
Waterfront FeaturesNone
Year Built1920
ZoningHD-MU
Exterior for 407 Red Cross Street
Building Area Total3301.0
Crops Included Y/NNo
Exterior AmenitiesNone
Exterior FinishWood Siding
FencingPartial, Wood
Foundation DetailsCrawl Space
Frontage TypeSee Remarks
Horse Y/NNo
Lot Dimensions54 x 95 x 48 x 99
Lot Size Acres0.12
Lot Size Area0.12
Parking FeaturesOn Street
Road Frontage TypeCity Street, State Road, Paved
Road Surface TypePaved
SpaNo
Total Parking0.0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Schools
High School
New Hanover High School
Middle School
Williston Middle School
Elementary School
Snipes Elementary School
