Property
Beds
6
Full Baths
None
1/2 Baths
None
Year Built
1935
Sq.Footage
2,800
**INVESTORS & FUTURE OWNER-OCCUPANTS—IMMEDIATE RENTAL INCOME WITH ADDITIONAL UPSIDE!** This detached Wilmington triplex offers a compelling combination of established income, substantial capital improvements, and future equity-building potential. Currently generating $4,900/month in reported rental income, the property offers the potential for positive cash flow even at the asking price under illustrative financing and expense assumptions. **An example Investment Value & Cash Flow Analysis is available in the attached MLS documents.** The building has undergone extensive improvements, including roof and siding upgrades, an attractive stone façade, added gutters, refreshed landscaping, and new mini-split supplemental heat and air. The second- and third-floor apartments are completely renovated and fully furnished, each featuring a new private deck. All three levels offer mini-split air conditioning and supplemental heating alongside natural gas radiator heat. The spacious first-floor residence features a private covered front porch and an opportunity for cosmetic improvements to further enhance value. **OWNER-OCCUPANT OPPORTUNITY:** Consider making the first floor your home while rental income from the upper levels helps offset housing expenses as you build equity in the entire property! The first-floor apartment is tenant-occupied under a lease ending March 2027; future occupancy is subject to existing lease terms, tenant rights, and lawful possession. Rental income and financial projections are subject to buyer verification. **A versatile income-producing property with major improvements already completed and additional opportunities to build long-term wealth!**
Features & Amenities
Interior
-
Total Bedrooms
6
-
Bathrooms
N/A
-
Above Grade Finished Area
2800.0
-
Cooling YN
YES
-
Cooling
Multi Units, Ductless, Electric
-
Fireplace YN
YES
-
Heating YN
YES
-
Heating
Natural Gas, Hot Water
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Stone, Stucco, Shingle Siding
-
Parking
On Street
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.11
-
Lot Size(square feet)
4,791
-
Property Type
Residential Income
-
Property Sub Type
Triplex
-
Architectural Style
Colonial
Price
-
Sales Price
$595,000
-
Tax Amount
$4,261
-
Zoning
Approved variance for multi-family
-
Sq. Footage
2,800
-
Price/SqFt
$212
HOA
-
Association
N/A
-
Total Monthly Fees
true
School District
-
Elementary School
CARRCROFT
-
Middle School
SPRINGER
-
High School
BRANDYWINE
Property Features
-
Stories
3
-
New Construction
NO
-
Foundation Details
Block
-
Sewer
Public Sewer
-
Tax Lot
166
-
Water Source
Public
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Location
County
NEW CASTLE
Elementary School
CARRCROFT
Middle School
SPRINGER
High School
BRANDYWINE
Listing Courtesy of Kevin Hobbs, Coldwell Banker Realty
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Principal Broker, Owner
Christy Issler
Call Christy today to schedule a private showing.
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