131 W 18TH ST Wilmington, DE 19802
6,098 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID DENC2099186
Year Built 1921
Annual Tax Amount $9,161
Tax Year 2025
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 51.00 x 118.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
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.
Location
State DE
County New Castle
Area Wilmington (30906)
Zoning 26R-3
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Flooring Wood
Heat Source Electric
Exterior
Water Access N
Roof Type Flat
Accessibility None
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Red Clay Consolidated
Others
Tax ID 26-021.40-111
Ownership Fee Simple
Acceptable Financing Conventional, Cash, Other
Listing Terms Conventional, Cash, Other
Financing Conventional,Cash,Other
Special Listing Condition Standard
