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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.
| DAYS ON MARKET | 0 | LAST UPDATED | 3/19/2026 |
|---|---|---|---|
| YEAR BUILT | 1921 | COMMUNITY | Wilmington (30906) |
| COUNTY | NEW CASTLE | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | RED CLAY CONSOLIDATED |
|---|
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| APPLIANCES | Electric Water Heater |
| AREA | Wilmington (30906) |
| CONSTRUCTION | Brick |
| HEAT | Baseboard, Electric |
| LOT | 6098 sq ft |
| LOT DIMENSIONS | 51.00 x 118.00 |
| PARKING | On Street |
| SEWER | Public Sewer |
| TAXES | 6098 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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