MLS® ID: DENC482982

103 W 40TH STREET

WILMINGTON, Delaware, 19802

$192,000 Pending
  • 2125 SQFT
FOR SALE: 103 W. 40TH STREET, WILMINGTON, DE 19802. This purpose built rental duplex is clean, loaded, well performing and truly TURNKEY. Fully occupied with great tenants and two 12 month leases in place. Building and apartments are in nice condition. Each apartment has two good size bedrooms, separate basements, two separate entrances per unit, nice hardwood floors, updated kitchens, spacious living rooms, dining rooms and separate interior access rear-loaded garages for extra income. New in-unit washers and dryers. All appliances are in good condition. New boiler installed for upstairs apartment (less than 3years ago). Both boilers converted to gas (less than 3 years ago). New central A/C in each unit (installed less than 3 years ago). Roof was recently inspected and coated in 2018. All utilities are separately metered and billed directly to tenants for more consistent ROI to landlord. Landlord pays only sewer and cold water use. Municipal trash collection included in city property taxes. PRESENT INCOME: Upper unit $875 / month (garage use not included. Garage rent can bring additional potential income). Lower unit $995 per month (garage use included). GROSS SCHEDULED INCOME = $22,440 EXPENSES TOTAL: $5277.74 . NOI: $17,163 . 8.9% CAP RATE. Step up now. THIS ONE WON'T LAST! Buyer must already be pre-approved for financing. Opportunity favors the prepared. Property qualifies for FHA and VA financing if buyer would like to occupy one unit.
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Listing courtesy of Concord Realty Group

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    19802
  • Office name
    Concord Realty Group
  • SQFT
    2125
  • Bedrooms
    0
  • Property type
    Multi-Family
  • Zoning type
    26R-2
  • School district
    BRANDYWINE
  • Year built
    1952
  • Lot size
    0.08
  • Sewer
    Public Sewer
  • Heating
    Radiator,Hot Water
  • Agent name
    Yasmin Bowman
  • Purchase Type
    Active
  • Price Range
    $100k-$200k
  • Square Feet Range
    2000-2500 sq ft.
  • Year Built Range
    1989 (and earlier)
  • Office ID
    CNCRDRG
  • Agent ID
    3173666

Location

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