$ 1,250,000
-
$1,250,000
Price -
0
Bed -
0
Bath -
6,513
SqFt
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About the Listing COMPASS3 - 3192826
Exceptional opportunity to acquire an 8-unit multifamily property (with potential for a 9th unit subject to zoning) in a highly desirable downtown Wilmington location known for strong and consistent rental demand. The property offers an attractive and diverse unit mix of four 1-bedroom, three 2-bedroom, and two 3-bedroom units across 6,513 square feet. This well-balanced layout, combined with the opportunity to add a ninth unit, creates strong tenant appeal and multiple avenues for income growth. The asset has significant value-add upside through leasing the 9th unit, implementing RUBS (80% recapture assumed), and contesting the current property tax assessment of $1,478,500. Ideally situated near ChristianaCare Wilmington Hospital, with excellent accessibility via I-95, public transportation, and proximity to employment hubs, downtown amenities, and Rodney Square, the property benefits from robust tenant demand and consistent leasing activity in this established neighborhood. This offering presents a compelling investment for both new and experienced investors seeking stable in-place cash flow with clear, achievable value-add potential. With its diverse unit mix, strong location fundamentals, and multiple levers for income and expense optimization, 1300 N French Street is well-positioned for immediate returns and long-term appreciation in the Wilmington market.
Listing Highlights
Status
Active
Days on Site
17
Property Type
Commercial Sale
MLS ®
DENC2104334
Year Built
1920
Total Square Footage
6,513
Lot/Acreage
0.12
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central A/C
- Heating: Heat Pump - Electric BackUp
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Lot Dimensions: 16.00 x 300
- Zoning: 26C-3
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Off Site,Parking Lot,On Street
Financial Details
- Tax Amount: $27,990
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
1300 N French St Wilmington, DE 19801
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