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305 W 18th St
Wilmington, DE 19802
18th Street Apartments · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Desirable Location: Directly across from Brandywine Park and the Washington Memorial Bridge, within walking distance of Downtown Wilmington
- Recent Capital Improvements: Unit renovations, new roof, and new water heaters in 2020
- Rental Upside: Current rents average ~9% below market, presenting strong income growth potential
- Attractive Unit Mix: Eight total units - (2) three-bedroom, (1) two-bedroom, and (5) one-bedroom apartments
- Turn-Key Investment: Well-maintained property requiring minimal immediate capital expenditures
- Strong Residential Corridor: Located in one of Wilmington’s most sought-after neighborhoods with easy access to major employers, schools, and transit
Property Facts
| No. Units | 8 | Lot Size | 0.22 AC |
| Property Type | Multifamily | Building Size | 6,300 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1914 |
| Building Class | C | ||
| Zoning | R5C, Wilmington City - residential zoning district | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 6,300 SF |
| No. Stories | 3 |
| Year Built | 1914 |
| Zoning | R5C, Wilmington City - residential zoning district |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $1,150 | 650 |
| 2+1 | 1 | $1,330 | 850 |
| 3+1.5 | 2 | $1,700 | 1,100 |
Property Taxes
| Parcel Number | 26-021.40-006 | Improvements Assessment | $461,200 |
| Land Assessment | $129,000 | Total Assessment | $590,200 |
Property Taxes
Parcel Number
26-021.40-006
Land Assessment
$129,000
Improvements Assessment
$461,200
Total Assessment
$590,200
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