131 W 18th Street, Wilmington, DE 19802
- $825,000
- 5,535
- SqFt
- Sold Price
- $825,000
- List Price
- $850,000
- Closing Date
- Jul 31, 2026
- Days on Market
- 47
- Status
- CLOSED
- MLS#
- DENC2099208
- Living Area
- 5,535
- Lot Size (Acres)
- 0.14
- Style
- Colonial
- Year Built
- 1921
- County
- New Castle
- School District
- Red Clay Consolidated
Property Description
Exceptional opportunity to acquire a 6-unit multifamily asset with 5 garages in a highly desirable Wilmington submarket known for strong and consistent rental demand. The property offers an attractive unit mix of two 1-bedroom units and four 2-bedroom units, along with a common laundry area, creating multiple income streams and broad tenant appeal. The asset is currently generating $88,740 in annual rental income at a 6.77% cap rate, with significant upside through strategic rent increases and operational improvements. Based on current market comparables, there is an estimated $22,860 in annual rental upside, supporting a projected stabilized income of $111,600 and a 9.04% cap rate. Ideally situated with convenient access to I-95, downtown Wilmington, major employers, and local amenities, the property benefits from strong tenant demand and consistent leasing activity. This offering presents a compelling investment for both new and experienced investors seeking stable in-place cash flow with clear value-add potential. With its solid unit mix, additional income from garages and laundry, and proven rental growth in the area, this asset is well-positioned for both immediate returns and long-term appreciation.
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Additional Information
- Area
- Wilmington (30906)
- Taxes
- $9161.11
- School District
- Red Clay Consolidated
- Flooring
- Wood
- Heating
- Baseboard - Electric
- Heating Fuel
- Electric
- Cooling
- None
- Roof
- Flat
- Water
- Public
- Sewer
- Public Sewer
- Basement
- Yes
Mortgage Calculator
Listing courtesy of Compass. Contact:
Selling Office: .