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Key Details
Sold Price $1,075,000
Property Type Other Types
Sub Type Manufactured
Listing Status Sold
Purchase Type For Sale
Square Footage 4,600 sqft
Price per Sqft $233
Subdivision None Available
MLS Listing ID DENC317346
Sold Date 03/29/19
HOA Y/N N
Originating Board BRIGHT
Year Built 1940
Annual Tax Amount $2,503
Tax Year 2018
Lot Size 1.870 Acres
Acres 1.87
Lot Dimensions 199.4x424.40
Property Description
Prepare to be wowed by this amazing investment opportunity! This package features an apartment building with 8 apartments and 1 office, 28 mobile homes, and 1 commercial upholstery shop, all conveniently located on one tidy parcel of part commercial and part residential real estate in a central location in Newport. Even more impressive is the fact that there is a 100% OCCUPANCY RATE in all units! Filled with mostly long-term tenants, this is as low maintenance and high yield as any investment you will find! The apartment building has a NEW 2 inch water line, Newer siding, Newer boiler for the hot water radiator heating - inspected every 2 years , Updated electric, and Replacement windows! All apartments are efficiencies, with heat and A/C included in the rent, each ground floor unit has a private entrance, and the building is equipped with fire alarms that are routinely inspected and an emergency exit. The ground floor office can be kept as a management hub, or changed into a larger apartment unit to increase rental capacity. The 28 mobile homes are located on a paved lot with a small, fenced yard allocated to each home. All mobile homes are 1 bedroom, 1 bathroom, with 100 amp electrical service, electric hot water heaters ,new hot air electric heaters and are connected to 3 water meters with potential for each to have its own water meter. Many of the mobile homes have updated interiors and new roofs and all have new hot air electric heaters. The commercial shop is self-maintained and the current tenant is responsible for all utilities. The lot itself boasts plenty of parking, commercial vehicle parking that can be repurposed into more tenant parking or space for another mobile home, 3 storage sheds, and a common dumpster for trash. Located in walking distance to the bus stop and restaurants, and close to all major routes including 141, 95, 495, and 295, this incredible investment won t be on the market for long!
Location
State DE
County New Castle
Area Elsmere/Newport/Pike Creek (30903)
Zoning CN & NC5
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Wall Unit
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Red Clay Consolidated
Others
Tax ID 0704710192
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Jeffrey Stape • Patterson-Schwartz-Brandywine