$400,000
$415,000
3.6%For more information regarding the value of a property, please contact us for a free consultation.
1,875 SqFt
SOLD DATE : 06/21/2024
Key Details
Sold Price $400,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,875 sqft
Price per Sqft $213
Subdivision Holly Oak
MLS Listing ID DENC2061328
Sold Date 06/21/24
Style Colonial
Abv Grd Liv Area 1,875
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $1,698
Tax Year 2022
Lot Size 10,454 Sqft
Acres 0.24
Lot Dimensions 100.00 x 140.00
Property Description
Welcome to Holly Oak Terrace, an idyllic community in North Wilmington where history meets modern convenience. Nestled less than a quarter-mile from the Delaware River, this fully detached tri-plex presents a unique opportunity to own a home already generating revenue as well as two vacant move-in ready units. With recent updates, including recent plumbing improvements, this isn't a listing you'll want to miss.
This charming property stands out with its extra-large lot, providing ample off-street parking for all occupants.
Comprising three well-maintained units, each with two bedrooms, this tri-plex boasts a thoughtful layout. The common area entrance grants access to the main floor unit, while a staircase leads to the second floor, offering formal access to units two and three. Unit one enjoys a private entrance through the spacious east-facing porch.
The second-floor unit has recently undergone a refreshing update, making it move-in ready for you or a prime opportunity to place a tenant and generate cash flow. Meanwhile, the third-floor unit offers a unique layout, with interior access and a private exterior entrance via wooden steps from the yard.
The utilities are efficiently managed with electric hot water and baseboard heating, leaving the owner responsible for water/sewer, common area electricity, trash removal, and the maintenance associated with landscaping and snow removal.
This property is an excellent entry point for those beginning their real estate investment journey with this property being well maintained by its current owner. For seasoned investors, it adds a valuable asset to a flourishing portfolio. Alternatively, for a primary resident, living in one unit while letting the other two generate cash flow is an enticing proposition.
Opportunities like this in such a sought-after location are rare, so seize the chance to own a piece of Holly Oak Terrace. Whether you're starting your real estate journey or expanding your portfolio, this tri-plex is a gem waiting for its next chapter. Don't hesitate—schedule a viewing today!
Location
State DE
County New Castle
Area Brandywine (30901)
Zoning NC6.5
Rooms
Basement Partial
Interior
Hot Water Electric
Heating Hot Water
Cooling None
Flooring Carpet, Vinyl
Fireplace N
Heat Source Electric
Exterior
Exterior Feature Porch(es)
Garage Spaces 4.0
Water Access N
Roof Type Pitched,Shingle
Accessibility None
Porch Porch(es)
Total Parking Spaces 4
Garage N
Building
Foundation 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 Brandywine
Others
Tax ID 06-116.00-099
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, FHA 203(k)
Listing Terms Cash, Conventional, FHA 203(k)
Financing Cash,Conventional,FHA 203(k)
Special Listing Condition Standard
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Bought with Aaron Reginald Thomas Jr. • English Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
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