Discover a rare and high-yield investment opportunity with this versatile multi-structure property situated on a single parcel in Wilmington's Cleland Heights. This unique setup features two distinct buildings, offering a great mix of four move-in ready renovations and significant value-add potential. The first structure is a two-story building housing two… Read More fully updated upper-level apartments and a large driveway offering plenty of off-street parking. These two-bedroom units feature top-to-bottom improvements, including durable LVP flooring, modern grey cabinetry, and bright white bathrooms, all supported by new 2023 HVAC systems and private in-unit laundry. Below them, a large lower-level space with existing bath presents a prime opportunity to build out a fifth unit (3-bed), a professional office, or functional garage bays. The second structure is a classic Cape Cod divided into a spacious two-bedroom unit on the main level and a three-bedroom unit on the 2nd floor. The upper unit features a private mudroom entrance, original solid hardwoods, and a kitchen with dark cabinetry, while the large lower unit has a fully renovated kitchen and an updated bathroom with marble tile surrounds. This unit can function as a 3-bed if desired by the tenants. Both Cape Cod units include their own laundry and fresh paint throughout. Further adding to the value, the Cape Cod building includes a full basement with separate gas boilers and separately metered electric, offering excellent storage or the potential for a sixth unit conversion. Whether you are looking for a solid house-hacking setup or a high-performing addition to your rental portfolio, this property delivers updated finishes and plenty of room to grow your equity in one package. Read Less
Courtesy of Daniel Shainsky, Coldwell Banker Realty 302-234-1888
Listing Snapshot
Days Online
17
Last Updated
Property Type
Single Family Residential
Square Ft.
4,650
Lot Size
0.21 Acres
Year Built
1940
MLS Number
DENC2095232
Additional Details
Basement
Full, Outside Entrance
Building
Built in 1940, Built in 2023 (effective), Living area: 4650, 3 stories, Construction Materials: Brick
Cooling
Central A/C
Accessibility Features
None
Expenses
Insurance: $5,225
Fireplaces
1 fireplace
Floors
Hardwood, Luxury Vinyl Plank
Foundation
Brick/Mortar
Garage
2 spaces
Heating
Forced Air
Income
Apartment Rentals
Lot
0.21 acres, Dimensions: 66.60 x 123.50
Owner Pays
Taxes - Real Estate, Insurance
Parking
Concrete Driveway
Property
Excellent, Very Good, Other structures: Above Grade, Below Grade
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