Address
1302 Lancaster Avenue, Wilmington, DE
Price
$ 495,000
Property Attributes
- MLS#DENC2060742
- TypeMulti-Family
- CountyNEW CASTLE
- CityWilmington
- AreaWilmington
- NeighborhoodWilm #22
- Zip19805
- Style
- Year Built1919
- Taxes$ 2181
- Price$ 495,000
- Bedrooms4
- Full Bathrooms0
- Half Bathrooms0
- Lot Size1,742 SqFt
Data Source:
Bright MLS
Property Description
Welcome to the ultimate turnkey investment opportunity! This fully renovated property boasts a thriving rental income stream, with all units currently occupied at market rate. As you enter, a spacious common hallway invites you to explore three expansive stories of beautifully updated units. Each residence features a stunning kitchen renovation, complete with granite countertops, water-efficient toilets, new flooring, modern vanities and tub surrounds. Additional upgrades include garbage disposals, new appliances, and numerous other thoughtful touches. The main floor unit, currently rented for $1,125/month, offers a spacious living area, oversized kitchen and dining combination, two generously sized bedrooms, and a full bathroom. Enjoy rear yard and basement access, with the added convenience of a partially finished basement and crawl space. The second floor features a cozy studio apartment (currently rented for $1,000/month) and a 1BR apartment (currently rented for $1,075/month), both perfect for tenants seeking comfort and convenience. The third-floor unit, currently rented for $1,154/month, boasts a unique layout with a kitchen entrance leading to a spacious living area, bedroom, and full bathroom. This property offers the ultimate in peace of mind, with all gas meters and lines eliminated, and individual electric and water meters for each unit. New owners can enjoy positive cash flow from day one, making this an unbeatable opportunity to dive into real estate ownership. Don't miss out on this exceptional investment chance!
| Price History | |
|---|---|
| 5/3/2024 | Listed $495,000 |
General Features
| Sewer | Public Sewer,No Septic System |
|---|---|
| Heating | Other |
| Cooling | Window Unit(s) |
| Possession | 0-30 Days CD,31-60 Days CD,61-90 Days CD |
| Roof | Flat,Cool/White |
| Zoning | 26R-3 |
| Pool Y/N | No Pool |
| Architectural Style | Other |
| Construction Materials | Brick |
| Year Built | 1919 |
| Electric | 150 Amps |
| Property SubType | Quadruplex |
| Tax Year | 2022 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Accessibility | None |
| County | NEW CASTLE |
| New Construction | No |
| Property Type | Multi-Family |
| Subdivision Name | WILM #22 |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | see map |
| ModificationTimestamp | 2024-05-03T17:37:31 |
| City | WILMINGTON |
| Buyer Agent Compensation | 2.5 |
| Disclosures | Agent has Financial Interest,Owner RE Licensee |
| Total Units | 4 |
| MLS Area | Wilmington (30906) |
| Lot Size Square Feet | 1742.00 |
| Tax Assessed Value | 40300.0 |
| Waterfront Y/N | No |
| Street Name | LANCASTER |
| Tax Annual Amount | 2181.0 |
| Home Warranty Y/N | No |
| Two Bedroom | 1 |
| Structure Type | Interior Row/Townhouse |
| Single Room Units Count | 1 |
| One Bedroom Units Count | 2 |
| Price Per Sq Ft | 183.33 |
| Acceptable Financing | Cash,Conventional,FHA,VA |
| Historic Y/N | No |
| Vacation Rental Y/N | No |
| Total SQFT | 2700 |
| Days on Market | 1 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Legal Subdivision | WILMINGTON |
| Tax Lot | 033 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Basement | Other |
| Flooring | Wood |
| Hot Water | Electric |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | AVENUE |
| Central Air Y/N | No |
| LivingAreaSource | Assessor |
Exterior Features
| Water Source | Public |
|---|---|
| Type of Parking | None |
| Foundation Details | Crawl Space |
| Spa | No |
| Water View Y/N | No |
| Lot Dimensions | 20.00 x 90.50 |
| Lot Size Acres | 0.04 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 4000.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 19805
Price
Taxes
Visits
Year Built
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