$215,000
$195,000
10.3%For more information regarding the value of a property, please contact us for a free consultation.
1,307 Sqft Lot
SOLD DATE : 05/02/2022
Key Details
Sold Price $215,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Subdivision Wilm #23
MLS Listing ID DENC2019906
Sold Date 05/02/22
Style Unit/Flat
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $497
Tax Year 2021
Lot Size 1,307 Sqft
Acres 0.03
Lot Dimensions 20.00 x 75.00
Property Description
INVESTOR ALERT! This rare triplex in Wilmington, Delaware just hit the market. With a cap rate of 11%, this could be yours to start building your portfolio. Unit A is a one bedroom, one bathroom apartment that is vacant but could be rented for $795 per month. Unit B is a huge two bedroom, one bathroom apartment. The current tenants are paying $795 per month but the potential rent is easily $900. Unit C is a commercial space being used as a barber shop, and the monthly rent is $550. Both tenants would love to stay in the property. There is also a garage on the side of the property that is included in the sale, and could easily be rented for $100 per month. Owner pays water and sewer. Tenants are responsible for gas and electric. This property won't last long. **This property is zoned Residential, but requires a non-conforming variance for the commercial space which has been grandfathered in. The variance is in place and requires a renewal every two years.
Location
State DE
County New Castle
Area Wilmington (30906)
Zoning 26R-3
Rooms
Basement Unfinished
Interior
Hot Water Natural Gas
Heating Radiant
Cooling Window Unit(s)
Fireplace N
Heat Source Natural Gas
Exterior
Parking Features Garage - Side Entry
Garage Spaces 1.0
Water Access N
Accessibility None
Total Parking Spaces 1
Garage Y
Building
Sewer Public Sewer
Water Public
Architectural Style Unit/Flat
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Red Clay Consolidated
Others
Tax ID 26-027.30-107
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Erik Bashford • EXP Realty, LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
GET MORE INFORMATION