26 S State St - Apartments FOR SALE


Dover, DE 19901
$1,200,000 USD
302-678-4326
26 S State St, Dover, DE for Sale
$1,200,000 USD
Apartments - FOR SALE
1/4
null | 10.1% Cap Rate

26 S State St
Dover, DE 19901


OVERVIEW

Turnkey 9-unit multifamily investment in Dover, surrounded by historic character and ongoing area revitalization. Stabilized asset producing approximately $11,700 per month (4-1-26) in rental income, plus additional income from on-site central washer and dryer facilities. Tenants pay their own gas heat and electric. Owner pays water, sewer, trash, and central hot water. Property has seen numerous recent improvements including updated windows, interior upgrades, select new kitchens, and recently installed flooring in most units. Hallways have been refreshed with new flooring and paint. Capital improvements include a new fire escape and some newer heating systems. Strong in-place income with additional ancillary revenue and continued upside through future unit improvements and long-term rental demand in the Dover market. Ideal for investors seeking a stabilized asset with proven cash flow.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$241 USD /SF

# OF UNITS

9

PRICE/UNIT

$133,333

CAP RATE

10.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

RG0

APN/PARCEL ID

2-05-07705-04-2300-000

ASK ABOUT THIS PROPERTY

Steve SchmidtRE/MAX HorizonsMore Info
302-678-4326

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Steve SchmidtRE/MAX HorizonsMore Info
302-678-4326

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.