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Multifamily

818 South Broom St.

818 S Broom St, Wilmington, DE 19805

Listing Price: $1,450,000

Cap Rate
6.48%
Number of Units
14
Occupancy
95.0%
Price/Unit
$103,571
Price/Gross SF
$183.20
Gross SF
7,915

Investment Overview

Marcus & Millichap is pleased to offer for sale to qualified investors the fee simple interest in 818 South Broom Street. 818 South Broom Street is located in the Hedgeville neighborhood, which is in proximity to downtown Wilmington. 818 South Broom Street is fully leased, and the unit mix is comprised of 12 one-bedroom units and 2 two-bedroom units. There are new electric meters for all units, new carpet in common areas, and 6 of the 14 units have been recently updated. This asset is conveniently located close to all of the amenities of Hedgeville and downtown Wilmington, including stores, restaurants, banks, and local schools. The unit in the front portion of the building has been converted from an office to a two-bedroom apartment. All units have access to off-street parking located to the left of the building, and coin-operated laundry located in the basement of the building. This property also features two storage facilities: One in the basement and one behind the building. The later is currently leased by an individual who plans to stay long-term.

Investment Highlights

  • Convenient Location, Proximity to Downtown Wilmington
  • New Electric Meters in All Units and Select Units Completely Renovated
  • Strong Tenant Base
  • Off-Street Parking and Coin-Operated Laundry Available

Exclusively Listed By

Broker of Record

  • Ridge MacLaren

    Senior Vice President Investments

    (215) 531-7019

    License(s) DE: RB-0002461

    Delaware

Listing Price: $1,450,000

Cap Rate
6.48%
Number of Units
14
Occupancy
95.0%
Price/Unit
$103,571
Price/Gross SF
$183.20
Gross SF
7,915

Investment Highlights

  • Convenient Location, Proximity to Downtown Wilmington
  • New Electric Meters in All Units and Select Units Completely Renovated
  • Strong Tenant Base
  • Off-Street Parking and Coin-Operated Laundry Available

Investment Overview

Marcus & Millichap is pleased to offer for sale to qualified investors the fee simple interest in 818 South Broom Street. 818 South Broom Street is located in the Hedgeville neighborhood, which is in proximity to downtown Wilmington. 818 South Broom Street is fully leased, and the unit mix is comprised of 12 one-bedroom units and 2 two-bedroom units. There are new electric meters for all units, new carpet in common areas, and 6 of the 14 units have been recently updated. This asset is conveniently located close to all of the amenities of Hedgeville and downtown Wilmington, including stores, restaurants, banks, and local schools. The unit in the front portion of the building has been converted from an office to a two-bedroom apartment. All units have access to off-street parking located to the left of the building, and coin-operated laundry located in the basement of the building. This property also features two storage facilities: One in the basement and one behind the building. The later is currently leased by an individual who plans to stay long-term.

Exclusively Listed By

Broker of Record

  • Ridge MacLaren

    Senior Vice President Investments

    (215) 531-7019

    License(s): DE: RB-0002461

    Delaware

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