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Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Trolley Square
MLS Listing ID DENC2112384
Year Built 1900
Annual Tax Amount $14,953
Tax Year 2025
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 148.50 x 91.50
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
presents a rare opportunity to acquire a stabilized 8-unit multifamily asset along with a buildable lot in the heart of Wilmington's
highly desirable Trolley Square neighborhood. Two separate parcels, a lot approved for 4-6 units and an apartment building
Uniquely renovated and designed, with individually metered utilities, providing operational efficiency
and tenant autonomy. Current ownership has invested in comprehensive improvements over the past five years, including
both cosmetic upgrades and essential system enhancements across all units. These capital improvements have elevated
the asset's marketability while significantly reducing near-term maintenance exposure. The property is cash-flow positive
with strong in-place income and additional upside potential through future rent growth in a supply-constrained, high-demand
submarket. The adjacent buildable lot offers capacity for 4–6 new two-bedroom units, presenting a valuable expansion or
development opportunity. Financials, rent roll, and development schematics available upon request.
Location
State DE
County New Castle
Area Wilmington (30906)
Zoning 26R-2A
Interior
Hot Water Electric
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 8.0
Water Access N
Accessibility None
Total Parking Spaces 8
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Red Clay Consolidated
Others
Tax ID 26-020.20-183
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Financing Cash,Conventional,Exchange
Special Listing Condition Standard
Nearby Locations
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