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.
For sale
$695,000
407 Red Cross Street, Wilmington, NC 28401
6beds
4baths
3,301sqft
Quadruplex
Built in 1920
-- sqft lot
$663,600 Zestimate®
$211/sqft
$-- HOA
What's special
- 104 days |
- 457 |
- 27 |
Zillow last checked:
Listing updated:
Listed by:
Jeffrey G Hovis 910-512-2205,
Intracoastal Realty Corporation,
Sky Grainger 910-833-2546,
Intracoastal Realty Corporation
Source: Hive MLS,MLS#: 100563459
Originating MLS: Cape Fear Realtors MLS, Inc.
Originating MLS: Cape Fear Realtors MLS, Inc.Loading...
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
Heating
- Electric, Forced Air
Cooling
- Central Air
Appliances
- Included: Electric Oven, Refrigerator
- Laundry: Dryer Hookup, Washer Hookup, Hookup - Dryer
Features
- None
- Flooring: LVT/LVP, Tile, Wood
- Basement: None
- Attic: No Access
Interior area
- Total structure area: 3,301
- Total interior livable area: 3,301 sqft
Property
Parking
- Parking features: On Street
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Patio & porch: Porch, Rear Porch
- Exterior features: None
- Fencing: Partial,Wood
- Has view: Yes
- View description: See Remarks
- Waterfront features: None
- Frontage type: See Remarks
Lot
- Size: 5,227 Square Feet
- Dimensions: 54 x 95 x 48 x 99
Details
- Parcel number: R04813028018000
- Zoning: HD-MU
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Materials
- Wood Siding, Wood Frame
- Foundation: Crawl Space
- Roof: Shingle
Condition
- New construction: No
- Year built: 1920
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Sewer Connected, Water Connected
Green energy
- Green verification: None
Community & HOA
Community
- Subdivision: Historic District
HOA
- Has HOA: No
- Amenities included: None
Location
- Region: Wilmington
Financial & listing details
- Price per square foot: $211/sqft
- Tax assessed value: $220,500
- Annual tax amount: $1,297
- Date on market: 3/30/2026
- Cumulative days on market: 104 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
- Electric utility on property: Yes
- Road surface type: Paved
Estimated market value
$663,600
$630,000 - $697,000
$1,898/mo
Price history
| Date | Event | Price |
|---|---|---|
| 3/30/2026 | Listed for sale | $695,000+426.5%$211/sqft |
Source:  Hive MLS #100563459 Report a problem | ||
| 3/22/2017 | Listing removed | $775 |
Source: Zillow Rental Manager Report a problem | ||
| 3/20/2017 | Listed for rent | $775 |
Source: Zillow Rental Manager Report a problem | ||
| 1/14/2015 | Sold | $132,000$40/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,298 -29.6% | $220,500 +4% |
| 2024 | $1,844 +3% | $212,000 |
| 2023 | $1,791 -0.6% | $212,000 |
| 2022 | $1,802 -0.7% | $212,000 |
| 2021 | $1,814 +28.3% | $212,000 +58% |
| 2020 | $1,414 | $134,200 |
| 2019 | $1,414 | $134,200 |
| 2018 | $1,414 | $134,200 +0.4% |
| 2017 | $1,414 -12.1% | $133,700 -7.9% |
| 2016 | $1,608 +4.6% | $145,100 |
| 2015 | $1,537 +4.4% | $145,100 |
| 2014 | $1,471 | $145,100 |
| 2013 | -- | $145,100 |
| 2012 | -- | $145,100 -37.5% |
| 2011 | -- | $231,991 |
| 2010 | -- | $231,991 |
| 2009 | -- | -- |
| 2008 | -- | -- |
| 2007 | -- | -- |
| 2005 | -- | $126,870 |
| 2004 | -- | $126,870 |
| 2003 | -- | $126,870 |
| 2002 | -- | $126,870 |
| 2001 | -- | $126,870 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Northside
Nearby schools
GreatSchools rating
- 5/10Annie H Snipes ElementaryGrades: K-5Distance: 1.4 mi
- 6/10Williston MiddleGrades: 6-8Distance: 0.9 mi
- 3/10New Hanover HighGrades: 9-12Distance: 0.8 mi
Schools provided by the listing agent
- Elementary: Snipes
- Middle: Williston
- High: New Hanover
Source: Hive MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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A local lender can help you make sure your offer is ready when you are.
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- North Carolina
- New Hanover County
- Wilmington
- 28401
- Northside
- 407 Red Cross Street
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