416 N 5th Ave, Wilmington, NC 28401

Property Description

This fully rebuilt downtown residence captures the timeless character of Wilmington's historic district while offering modern finishes and flexible living arrangements. Constructed to historical guidelines and approved by Wilmington's Historical Society, the home blends curb appeal with durability and style — making it truly plaque-worthy. Currently configured as two residences, the property offers both lifestyle and income potential. The first-floor unit is already operating as a short-term rental, while the upper level is leased to a long-term tenant for consistent cash flow. If both units were converted to short-term rentals, projected income is estimated at $80,000-$90,000 annually — making this an exceptional opportunity for investors. The home can also serve as a multi-generational retreat or easily be converted into a single-family residence by reopening the original interior doorway. Inside, each residence is thoughtfully finished with quartz countertops, stainless steel appliances, farmhouse sinks, engineered French oak flooring, and designer tile bathrooms. Primary suites feature custom walk-in closets and spa-style showers. High ceilings, wide baseboards, and craftsman-style details add warmth and sophistication throughout. Just steps from the Riverwalk, dining, and cultural attractions, this property represents a rare opportunity: a historically recognized home with turnkey rental income and flexible options for the future.