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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.
| DAYS ON MARKET | 0 | LAST UPDATED | 6/3/2026 |
|---|---|---|---|
| TRACT | NONE AVAILABLE | YEAR BUILT | 1920 |
| COMMUNITY | Wilmington (30906) | COUNTY | NEW CASTLE |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| School District | CHRISTINA |
|---|
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | Wilmington (30906) |
| CONSTRUCTION | Brick |
| HEAT | Electric, Heat Pump |
| LOT | 5227 sq ft |
| LOT DIMENSIONS | 16.00 x 300 |
| PARKING | On Street, Off Site, Parking Lot |
| SEWER | Public Sewer |
| SUBDIVISION | NONE AVAILABLE |
| TAXES | 27990 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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