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1716 CHESTNUT ST Wilmington, DE 19805
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Key Details
Sold Price $332,500
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 3,025 sqft
Price per Sqft $109
Subdivision Wilm #25
MLS Listing ID DENC511776
Sold Date 04/30/21
Style Colonial
HOA Y/N N
Abv Grd Liv Area 3,025
Originating Board BRIGHT
Year Built 1940
Annual Tax Amount $5,017
Tax Year 2020
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 42.00 x 100.00
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!
Location
State DE
County New Castle
Area Wilmington (30906)
Zoning 26R-2
Rooms
Basement Full
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling None
Flooring Carpet, Hardwood, Laminated, Vinyl
Fireplace N
Heat Source Natural Gas
Exterior
Garage Spaces 1.0
Water Access N
Roof Type Pitched,Shingle
Accessibility None
Total Parking Spaces 1
Garage N
Building
Foundation Block, Brick/Mortar, Stone
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade, Below Grade
Structure Type Dry Wall,Plaster Walls
New Construction N
Schools
School District Christina
Others
Tax ID 26-033.20-228
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Nikolina Novakovic • Century 21 Gold Key Realty