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| Description |
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Exceptional opportunity to acquire an 8-unit multifamily property (with potential for a 9th unit subject to zoning) in a highly desirable downtown Wilmington location known for strong and consistent rental demand The property offers an attractive and diverse unit mix of four 1-bedroom, three 2-bedroom, and two 3-bedroom units across 6,513 square feet. This well-balanced layout, combined with the opportunity to add a ninth unit, creates strong tenant appeal and multiple avenues for income growth. The asset has significant value-add upside through leasing the 9th unit, implementing RUBS (80% recapture assumed), and contesting the current property tax assessment of $1,478,500. Ideally situated near ChristianaCare Wilmington Hospital, with excellent accessibility via I-95, public transportation, and proximity to employment hubs, downtown amenities, and Rodney Square, the property benefits from robust tenant demand and consistent leasing activity in this established neighborhood. This offering presents a compelling investment for both new and experienced investors seeking stable in-place cash flow with clear, achievable value-add potential. With its diverse unit mix, strong location fundamentals, and multiple levers for income and expense optimization, 1300 N French Street is well-positioned for immediate returns and long-term appreciation in the Wilmington market.
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| Room Sizes |
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| Location |
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| Details |
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Architectural Type - Colonial
Basement - Partial, Stone
Exterior Features - Brick
Cooling - Central A/C, Electric
Heating - Heat Pump - Electric BackUp, Electric
Hot Water - Electric
Sewer - Public Sewer
Water - Public
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