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    1716 Chestnut Street

    WILMINGTON, DE 19805
    • $390,000
    • STATUS: Active
    • ON SITE: 36 days
    • ID#: DENC511776
    Price Reduced
    UPDATED: 74 min ago
    $390,000
    • 0
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,025
      SQFT
    • $129
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1940
    County:

    School Ratings & Info

    School District:

    Description

    Excellent opportunity to purchase this fully occupied and performing four unit, all stone building located in the quaint and quiet Bayard Square neighborhood in the City of Wilmington. Two units accessed on the main level from separate entrances, and two units accessed through a shared, side entrance with separate front doors at the top of the steps on the second floor. First unit is a large one bedroom which has been nicely renovated. Second main floor unit is a one bedroom which has some updates and features a nice tiled bathroom. Third unit on the upper floor is extra large with three bedrooms, hardwood flooring and a tile bathroom. Fourth unit on the upper floor is a one bedroom with a cozy tiled bathroom. Large basement accessed from the rear of building with it's own dedicated exterior entrance is home to storage, washer/dryer, all four electrical panels, gas fired hot water heater and gas fired boiler for the radiant heat the building utilizes. Fenced in rear, grassy yard perfect for social distanced gatherings and other out door activities. Off street parking exists for one car on a concrete pad out front. The building is fully occupied with fresh tenants that are all on 12 month leases with plenty of time left before expiration. Landlord pays for heat, hot water, and water as well as exterior maintenance. This property has on recored with the City of Wilmington a Legal, Non-Conforming Use Variance to allow its operation as a four unit building as it is currently structured. This has been recently acquired by the owner and all supporting documents will be made available as such and transferable to the new owner. This variance was acquired first, then renovations were performed to the building, and then it was filled with tenants. Rare offering for a multi-family property with all proper documentation and fully performing. Add this to your existing portfolio, 1031 Exchange into this offering or simply start your investment career with the purchase of this property!

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Barrows and Associates | Ocean Atlantic Sotheby's International Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-12-02T09:52:05.303.
    www.barrowsandassociates.com/homes/111367842
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    1716 Chestnut Street WILMINGTON, DE 19805

    • Price: $390,000
    • Status: Active
    • Updated: 74 min ago
    • ID#: DENC511776
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.1
    Acres
    3,025
    SQFT
    $129
    $/SQFT
    1940
    Built
    Neighborhood:
    Wilm #25
    County:
    New Castle
    Area:
    Wilmington (30906)
    School District:
    Christina
    Property Description
    Excellent opportunity to purchase this fully occupied and performing four unit, all stone building located in the quaint and quiet Bayard Square neighborhood in the City of Wilmington. Two units accessed on the main level from separate entrances, and two units accessed through a shared, side entrance with separate front doors at the top of the steps on the second floor. First unit is a large one bedroom which has been nicely renovated. Second main floor unit is a one bedroom which has some updates and features a nice tiled bathroom. Third unit on the upper floor is extra large with three bedrooms, hardwood flooring and a tile bathroom. Fourth unit on the upper floor is a one bedroom with a cozy tiled bathroom. Large basement accessed from the rear of building with it's own dedicated exterior entrance is home to storage, washer/dryer, all four electrical panels, gas fired hot water heater and gas fired boiler for the radiant heat the building utilizes. Fenced in rear, grassy yard perfect for social distanced gatherings and other out door activities. Off street parking exists for one car on a concrete pad out front. The building is fully occupied with fresh tenants that are all on 12 month leases with plenty of time left before expiration. Landlord pays for heat, hot water, and water as well as exterior maintenance. This property has on recored with the City of Wilmington a Legal, Non-Conforming Use Variance to allow its operation as a four unit building as it is currently structured. This has been recently acquired by the owner and all supporting documents will be made available as such and transferable to the new owner. This variance was acquired first, then renovations were performed to the building, and then it was filled with tenants. Rare offering for a multi-family property with all proper documentation and fully performing. Add this to your existing portfolio, 1031 Exchange into this offering or simply start your investment career with the purchase of this property!
    Exterior Features

    Architectural Style Colonial Construction Materials Stone Exterior Features SidewalksStreet Lights Garage YN No Other Structures Above GradeBelow Grade Parking Features Concrete Driveway Parking Types DrivewayOff StreetOn Street Pool No Pool Property Condition Good Riparian Rights YN No Roof PitchedShingle Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Above Grade Fin SQFT 3025 Basement Full Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling None Exclusions Tenant Personal Property Fireplace YN No Fireplaces Total 0 Flooring CarpetHardwoodLaminatedVinyl Heating Hot Water Heating YN Yes Inclusions As Shown Single Room Units 0 Spa YN No Three Bedroom Units 1 Two Bedroom Units 0 Walls Ceilings Dry WallPlaster Walls

    Property Features

    Acceptable Financing CashConventional Accessibility Features None Assessment Year 2020 Association YN No Central Air YN No Cooling Fuel None Cross Street S. Dupont St. Electric 200+ Amp Service Existing Lease Type Yearly Foundation Details BlockBrick/MortarStone Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Navigable Water YN N New Construction YN No Number Of Units Leased 4 Number Of Units Total 4 Original MLSNumber 304367314002 Owner Pays GasHeatInsuranceSewerSnow RemovalTaxes - Real EstateWater Ownership Interest Fee Simple Possession Immediate Property Sub Type Quadruplex Rent Control YN No Sale Type Standard Sewer Public Sewer Structure Design Type Detached Tax Annual Amount 5017.00 Tax Assessment Amount 96100.00 Tax Lot 228 Total Actual Rent 39900.00 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 MileCommuter Rail Station 1 To 5 Miles Vacation Rental YN No Water Source Public Zoning 26R-2

    Listing courtesy of Alliance Realty.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Barrows and Associates | Ocean Atlantic Sotheby's International Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-12-02T09:52:05.303.
     
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    Barrows and Associates | Ocean Atlantic Sotheby's International Realty
    18949 Coastal Highway Suite 304
    Rehoboth Beach DE, 19971