131 W 18th Street, Wilmington, DE 19802

USD 850,000

For Sale MLS: DENC2099186

Primary image of 131 W 18th Street, Wilmington, DE 19802

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Property Details

Neighborhood

None

Basement

None

Property Type

None

Description

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.

PROPERTY DETAILS: Square Feet: 5535

INTERIOR FEATURES: • Flooring: Wood • Cooling: None • Heating: Electric Heating, Baseboard • Plumbing: Electric Water Heater

EXTERIOR FEATURES: • Parking: On Street. • Exterior: Brick • Roof: Flat • Lot Dimensions: 51.00 x 118.00 • Zoning: 26R-3

LISTING AGENT: Agent: Mark Stape | Office: Compass | Phone: 3022029855 | Email: [email protected]

LISTING INFORMATION: MLS#: DENC2099186 | Status: FOR SALE

Location

Address

131 W 18th Street

City

Wilmington

Features and Finishes

Interior Features:

• Flooring: Wood

• Cooling: None

• Heating: Electric Heating, Baseboard

• Plumbing: Electric Water Heater

Exterior Features:

• Parking: On Street.

• Exterior: Brick

• Roof: Flat

• Lot Dimensions: 51.00 x 118.00

• Zoning: 26R-3

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