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Key Details
Sold Price $1,250,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 5,200 sqft
Price per Sqft $240
MLS Listing ID DENC2023300
Sold Date 10/14/22
Style Victorian
Abv Grd Liv Area 5,200
Originating Board BRIGHT
Year Built 1878
Annual Tax Amount $14,242
Tax Year 2021
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 59.70 x 123.00
Property Description
Welcome to the Spruance House! This is a rare opportunity to own a mixed use building in the heart of Trolley Square. This property features professional office space on the ground level, plus 5 apartments above. This Second Empire Victorian home was built in 1878 by William Corbit Spruance, a Delaware State Supreme Court Justice. The Spruance House is a Nationally Registered Historic Property eligible for State and Federal Historic Tax Credits, as well as State and Federal Grants. The first floor is currently occupied by Design Collaborative, Inc. who have been tenants in this location for over 30 years. There are 3 1-bedroom apartments on the second floor and 2 studio apartments on the third floor, one of which has a loft. Including the parking lot, this property currently generates over $113,000 income annually. Because of current market conditions and the exquisite nature of this property, it is likely that the final sales price will exceed the current listing price - please advise your clients accordingly.
Location
State DE
County New Castle
Area Wilmington (30906)
Zoning 26R5-C
Rooms
Basement Outside Entrance, Shelving, Unfinished
Interior
Hot Water Electric
Heating Hot Water
Cooling Central A/C, Ceiling Fan(s), Window Unit(s), Multi Units
Fireplaces Number 3
Fireplace Y
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
Architectural Style Victorian
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Red Clay Consolidated
Others
Tax ID 26-020.40-109
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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