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Key Details
Sold Price $345,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Subdivision Colonial Heights
MLS Listing ID DENC2006006
Sold Date 10/06/21
Style Other
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $2,345
Tax Year 2021
Lot Size 10,454 Sqft
Acres 0.24
Lot Dimensions 94.00 x 110.00
Property Description
Are you looking for a turn-key investment property that produces an immediate return on investment? If so, come see this 4-unit apartment building with long terms tenants in place. Rarely available in the County, this quadruplex has renewable rental permits in place for all units through 5/1/23 and features 3 one-bedroom apartments, 1 efficiency unit, and 2 detached 2-car garages. Each unit has a separate, private entrance and separate meters for electricity and gas within their units. The efficiency unit (11a) has electric baseboard heat and pays for their own heat. The owner pays for heat (in Units 9a, 9b, and 11b), hot water, water/sewer, trash, electric in the basement & garages, property taxes and insurance. Please see income and expense sheet for additional information. The house boiler was replaced in 2018 and all electric panels were replaced in 2005. The property comes with a coin-operating washer and dryer in the basement that are currently used by all tenants producing additional income. There is also a secured storage space in the basement that is currently used by the owner. The large, detached garages could also be rented for additional income. Three tenants have occupied their units for more than 5 years, of which 2 receive subsidized housing payments from New Castle County (Please see income and expense sheet for additional details). The 4th tenant has been in place for 2 years and would like to stay (Interior pictures are of Unit 9a before it was rented). If you are looking for a solid investment property with good rental history, you dont want to miss this one!
Location
State DE
County New Castle
Area Elsmere/Newport/Pike Creek (30903)
Zoning NC5
Rooms
Basement Partial, Rear Entrance, Walkout Stairs
Interior
Hot Water Natural Gas
Heating Baseboard - Electric, Radiator
Cooling Window Unit(s)
Equipment Dryer, Refrigerator, Stove, Washer, Water Heater
Appliance Dryer, Refrigerator, Stove, Washer, Water Heater
Heat Source Natural Gas, Electric
Exterior
Exterior Feature Enclosed, Porch(es), Deck(s)
Parking Features Garage - Rear Entry
Garage Spaces 4.0
Water Access N
Accessibility None
Porch Enclosed, Porch(es), Deck(s)
Total Parking Spaces 4
Garage Y
Building
Lot Description Front Yard, Rear Yard
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Red Clay Consolidated
Others
Tax ID 07-036.10-199
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
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Bought with Shane M Pezick • RE/MAX Associates-Wilmington