407 Maides Ave, Wilmington, NC

MULTI-FAMILY RESIDENTIAL PROPERTY

Wilmington, NC

This is a US Federal Bankruptcy Auction of a large 2.5+/- acre property that includes (10) separate buildings including single-family buildings, duplex buildings, and quad-plex buildings with (19) total residential units in the East Wilmington Park area. Also included in this property are some open areas that are not currently being utilized. This property is a single parcel that has buildings fronting on Maides Avenue and Henry Street along with additional frontage on Princes Place Drive.

Approximately 50% of the units are currently rented with the remaining units being vacant. Most of the vacant units have either been renovated or are partially renovated. The most recent rental report shows (8) units currently rented with an average monthly rent of approximately $1,400.00 per unit with a low of $1,200.00 per month and a high of $1,750.00 per month.

MORE INFORMATION WILL BE ADDED OVER THE NEXT FEW DAYS, PLEASE FOLLOW FOR UPDATES

This property includes the following addresses

406 Henry Street - SF home - Rented

410 Henry Street - SF home - Vacant

414 Henry Street - SF home - Vacant

418 Henry Street - SF home - Rented

426 Henry Street - SF home - Rented

430 A Henry Street - Duplex Unit - Rented

430 B Henry Street - Duplex Unit - Vacant

434 A Henry Street - Duplex Unit - Rented

434 B Henry Street - Duplex Unit - Vacant

438 A Henry Street - Duplex Unit - Vacant

438 B Henry Street - Duplex Unit - Rented

407 A Maides Avenue - Quadplex Unit - Vacant

407 B Maides Avenue - Quadplex Unit - Vacant

407 C Maides Avenue - Quadplex Unit - Rented

407 D Maides Avenue - Quadplex Unit - Rented

415 A Maides Avenue - Quadplex Unit - Vacant

415 B Maides Avenue - Quadplex Unit - Vacant

415 C Maides Avenue - Quadplex Unit - Vacant

415 D Maides Avenue - Quadplex Unit 0 Vacant

*Occupancy as reported on last rental information.

TAX CARDS INCLUDING DATA ON THIS PARCEL AND ALL BUILDINGS ARE ATTACHED BELOW FOR VIEWING OR DOWNLOAD BY "CLICKING" THE RED "MAPS & BROCHURES" BUTTON.

* This auction will be held "LIVE ON LOCATION ONLY" at the property on Wednesday, August 19, 2026 at 10:00am. There is no online bidding available for this auction. 

* There will be "NO UPSET BID RAISE PERIOD" meaning that the high bid at the close of the auction by the auctioneer will be the last and final bid and cannot be raised at a later date or time at the Courthouse.

* The property is being sold under Court order as being "FREE & CLEAR OF ALL KNOWN LIENS" meaning clear title will be delivered to the Buyer at closing.

* Real Estate Ad Valorem taxes will be "PRORATED" as of the day of closing. The Seller will pay all 2025 and prior year taxes and the Seller and Buyer will split 2026 taxes based on the closing date.

* The property is being sold "AS IS" with no Buyer contengencies as to the condition of the property. All "DUE DILLIGENCE" on the part of the Buyer should be performed prior to bidding.

* There is "NO SET MINIMUM OPENING BID AMOUNT". The final bid amount is subject only to Court confirmation and can not be raised or upset after auction day.

* A "DEPOSIT" in the amount of 10% of the Buyer's bid amount will be required at the time of auction. This can be made by cash, personal or comapny check, wire transfer, or other means that have been pre-approved by the auction company. This 10% deposit is a portion of the selling price and is not an additional fee.

* There is "NO BUYER'S PREMIUM" or Buyer's fee charged in this auction. The bid amount represents the selling price.

* "CLOSING" is expected within (45) days from the confirmation of the sale by the Court.

* The "CONFIRMATION" period is a time between the actual auction date and when the Court signs the executed order confirming the sale. This usually takes 2-4 weeks allowing time for all the Bankruptcy Trustee to compile, file, and present all of the sale documentation to the Court for review and approval. Once the Order has been signed, you will be notified of the confirmation and your (45) days to close on the property will begin.

* If you have any questions, please contact Country Boys Auction & Realty, Inc. Auctioneers/Brokers

Mike Gurkins (252) 916-1005 - mgurkins@countryboysauction.com

Dewey Dunn (252) 916-1002 - ddunn@countryboysauction.com