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Prime Investment Opportunity: 1 S. Washington St., Milford Seize the chance to own a high-performing asset in the absolute heart of the City of Milford. This well-maintained apartment building combines the stability of long-term cash flow with the exciting potential for immediate value-add, making it a standout addition to any portfolio. Investment Highlights "¢ Unbeatable Location: Situated at the center of the city, this property offers tenants unparalleled walkability and convenience, ensuring historically low vacancy rates and high demand. "¢ Significant Capex Savings: The current owners have been proactive with upgrades, including recent window replacements in most units"”a major capital expense already largely addressed for the next owner. "¢ Operational Efficiency: Managing costs is a breeze with separately metered itilities, shifting utility responsibility to the tenants and protecting your bottom line. "¢ Premium Amenities: Unlike many downtown properties, this building features a private parking lot and on-site laundry facilities, two of the most sought-after features for quality long-term tenants. "¢ Immediate Upside: Currently positioned just under market rates to attract a premium tenant base, there is a built-in opportunity for the new owner to increase rents and instantly boost the Cap Rate. This is a "turn-key" operation with the heavy lifting already done. Between the recent physical improvements and the strategic pricing structure, 1 S. Washington St. is primed for a seamless transition and long-term appreciation.
| DAYS ON MARKET | 0 | LAST UPDATED | 5/14/2026 |
|---|---|---|---|
| YEAR BUILT | 1900 | COMMUNITY | Cedar Creek Hundred (31004) |
| COUNTY | SUSSEX | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | MILFORD |
|---|
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | Cedar Creek Hundred (31004) |
| HEAT | Electric, Heat Pump |
| LOT | 8712 sq ft |
| LOT DIMENSIONS | 68.00 x 130.00 |
| PARKING | Parking Lot |
| SEWER | Public Sewer |
| TAXES | 1472 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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