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Milford,DE 19963
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,600 sqft
Price per Sqft $142
MLS Listing ID DEKT2034600
Year Built 1961
Annual Tax Amount $2,241
Tax Year 2022
Lot Size 2.100 Acres
Property Description
Investment Property with Multi-Unit Potential
Seize this rare opportunity to own a 3.9-acre property with two parcels. The first is a 1.8-acre vacant lot with easement access for a neighboring lot. The second parcel spans 2.1 acres and features three buildings with eight efficiency apartments.
Each 550 sq. ft. unit includes 2 bedrooms, 1 bathroom, kitchen/dining combo, living room , and baseboard heating. Recent updates include LVP flooring in kitchens/living rooms, carpet in bedrooms, and full upgrades to Building 1, including new windows and a roof.
The property is equipped with three septic systems, one shared well with a pump house, and concrete foundations. All units are leased until August 1, 2025. Additional $20/month paid by each tenant for trash service. An on-site mobile home is on land lease -home is owned by the maintenance man, who will come with the property and ensures smooth operations.
Whether you're expanding your portfolio or seeking a high-potential rental investment, this property delivers immediate income and future possibilities. Pictures show interior of unit 2.
Location
State DE
County Kent
Area Milford (30805)
Zoning AC
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Flooring Vinyl,Carpet,Luxury Vinyl Plank
Exterior
Garage Spaces 15.0
Water Access N
Roof Type Shingle
Building
Lot Description Partly Wooded,Private
Foundation Concrete Perimeter
Sewer Gravity Sept Fld
Water Community,Well-Shared
New Construction N
Schools
School District Milford
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard