$ 850,000
-
$850,000
Price -
10
Bed -
0
Bath -
5,535
SqFt
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About the Listing COMPASS3 - 3192826,3164406
Exceptional opportunity to acquire a 6-unit multifamily asset with 5 garages in a highly desirable Wilmington submarket known for strong and consistent rental demand. The property offers an attractive unit mix of two 1-bedroom units and four 2-bedroom units, along with a common laundry area, creating multiple income streams and broad tenant appeal. The asset is currently generating $88,740 in annual rental income at a 6.77% cap rate, with significant upside through strategic rent increases and operational improvements. Based on current market comparables, there is an estimated $22,860 in annual rental upside, supporting a projected stabilized income of $111,600 and a 9.04% cap rate. Ideally situated with convenient access to I-95, downtown Wilmington, major employers, and local amenities, the property benefits from strong tenant demand and consistent leasing activity. This offering presents a compelling investment for both new and experienced investors seeking stable in-place cash flow with clear value-add potential. With its solid unit mix, additional income from garages and laundry, and proven rental growth in the area, this asset is well-positioned for both immediate returns and long-term appreciation.
Listing Highlights
Status
Active
Days on Site
2
Property Type
Multi-Family
MLS ®
DENC2099208
Year Built
1921
Total Square Footage
5,535
Lot/Acreage
0.14
Interior Details
- Bedrooms: 10
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Baseboard - Electric
- Fireplaces:
- Floor: Wood
- Above Ground Sq Ft: 5535
- Below Ground Sq Ft: n/a
- Basement: Full
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Lot Dimensions: 51.00 x 118.00
- Zoning: 26R-3
- Roof: Flat
- Others:
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $6,098
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
131 W 18th St Wilmington, DE 19802
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