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2116 N Washington Street

WILMINGTON, DE 19802
  • $175,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: DENC2000221
UPDATED: 55 min ago
$175,000
  • 0
    BEDS
  • 0.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,375
    SQFT
  • $74
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1921
County:

School Ratings & Info

School District:

Description

Excellent opportunity between Brandywine Village and The Triangle for the aspiring property owner to take this large, single detached triplex that has fallen on hard times and transform this into a money generating venture. A fire has damaged the second floor front unit, but it appears to be mostly smoke damage to existing walls. Of the three units, this one will need the most significant repairs to be probably more than just cosmetics. As for the remaining two units, they are in solid condition, especially the main floor unit, which is mostly in need of a thorough cleaning. Second floor rear unit has some water damage from a leaking roof in the kitchen. The rest of it is mostly intact. Basement is home to righteous mechanical systems which appear to be in excellent condition. Separate electrical panels and meters for each unit, separate gas meters, hot water tanks and boilers for each unit. Seller would pay water/sewer and common area/exterior electric, which is also separate. Windows for the front of the building are present and accounted for in this space as well, so just need to install them. First floor unit is a large three bedroom with secondary entrance from the kitchen into side alley. Second floor rear is a one bedroom unit with secondary egress to the rear yard from kitchen. Second floor front unit is a one bedroom with secondary egress from the kitchen into side alley. This could be reconfigured during your renovation and possibly laid out to maybe sneak a second bedroom in. Overall, building is actually in fairly solid condition and with what appears to be tight mechanicals and fire escapes, it lends itself best as a multi-family. Due to vacancy, this building has lost it's non-conforming use variance, and is no longer recognized as a legal multi-family in the eyes of the local municipality. Buyer would be accepting this situation and would deal with it post settlement. Another option would be to gut this structure and return it to a stunning single family dwelling, with over 2300 sq ft and an expansive layout, this could be an unbelievable single family fit out. Property being sold in "AS IS" condition and there will be NO contingencies accepted regarding zoning/use of the property. Agent was able to traverse the entire physical structure with no hint of floor instability, but Listing Agent weighs 150 pounds soaking wet, so proceed with caution and common sense. Excellent Fall project to return to use in late Winter, early Spring and be on your way to enjoying possibly $2,500-3,000+ in gross monthly income. Home owners are invited, but need cash or hard money same as investors. No traditional financing will be accepted on this property, and due to condition and zoning, probably won't qualify anyway. Don't be shy, but be open, honest and realistic with your resources. This is worth the time and energy if you've got the ability to focus and be organized through the process.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Allison Stine Team with Northrop Realty a Long and Foster Company. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-26T12:52:58.347.
www.allisonstineteam.com/homes/122279334
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2116 N Washington Street WILMINGTON, DE 19802

  • Price: $175,000
  • Status: Active
  • Updated: 55 min ago
  • ID#: DENC2000221
0
Beds
0
Baths
0
½ Baths
0.05
Acres
2,375
SQFT
$74
$/SQFT
1921
Built
Neighborhood:
Wilmington (30906)
County:
New Castle
Area:
Wilmington (30906)
School District:
Red Clay Consolidated
Property Description
Excellent opportunity between Brandywine Village and The Triangle for the aspiring property owner to take this large, single detached triplex that has fallen on hard times and transform this into a money generating venture. A fire has damaged the second floor front unit, but it appears to be mostly smoke damage to existing walls. Of the three units, this one will need the most significant repairs to be probably more than just cosmetics. As for the remaining two units, they are in solid condition, especially the main floor unit, which is mostly in need of a thorough cleaning. Second floor rear unit has some water damage from a leaking roof in the kitchen. The rest of it is mostly intact. Basement is home to righteous mechanical systems which appear to be in excellent condition. Separate electrical panels and meters for each unit, separate gas meters, hot water tanks and boilers for each unit. Seller would pay water/sewer and common area/exterior electric, which is also separate. Windows for the front of the building are present and accounted for in this space as well, so just need to install them. First floor unit is a large three bedroom with secondary entrance from the kitchen into side alley. Second floor rear is a one bedroom unit with secondary egress to the rear yard from kitchen. Second floor front unit is a one bedroom with secondary egress from the kitchen into side alley. This could be reconfigured during your renovation and possibly laid out to maybe sneak a second bedroom in. Overall, building is actually in fairly solid condition and with what appears to be tight mechanicals and fire escapes, it lends itself best as a multi-family. Due to vacancy, this building has lost it's non-conforming use variance, and is no longer recognized as a legal multi-family in the eyes of the local municipality. Buyer would be accepting this situation and would deal with it post settlement. Another option would be to gut this structure and return it to a stunning single family dwelling, with over 2300 sq ft and an expansive layout, this could be an unbelievable single family fit out. Property being sold in "AS IS" condition and there will be NO contingencies accepted regarding zoning/use of the property. Agent was able to traverse the entire physical structure with no hint of floor instability, but Listing Agent weighs 150 pounds soaking wet, so proceed with caution and common sense. Excellent Fall project to return to use in late Winter, early Spring and be on your way to enjoying possibly $2,500-3,000+ in gross monthly income. Home owners are invited, but need cash or hard money same as investors. No traditional financing will be accepted on this property, and due to condition and zoning, probably won't qualify anyway. Don't be shy, but be open, honest and realistic with your resources. This is worth the time and energy if you've got the ability to focus and be organized through the process.
Exterior Features

Architectural Style Other Construction Materials Brick Exterior Features Fire EscapeExterior LightingSidewalksStreet Lights Garage YN No Other Structures Above GradeBelow Grade Parking Types On Street Pool No Pool Property Condition Below Average Riparian Rights YN No Roof Flat Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 2375 Basement Outside EntranceUnfinished Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling None Exclusions N/A Fireplace YN No Fireplaces Total 0 Flooring WoodFully CarpetedVinylTile/Brick Heating Hot Water Heating YN Yes Inclusions As Shown Security Features Intercom Single Room Units 0 Spa YN No Three Bedroom Units 1 Two Bedroom Units 0 Units Furnished None Walls Ceilings Dry WallPlaster Walls

Property Features

Acceptable Financing CashPrivate Accessibility Features None Assessment Year 2021 Central Air YN No Cooling Fuel Electric Cross Street 22ND Electric 200+ Amp ServiceCircuit Breakers Existing Lease Type None Foundation Details Stone Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Navigable Water YN N New Construction YN No Number Of Units Leased 0 Number Of Units Total 2 Number Of Units Vacant 3 Original MLSNumber 800766915817 Owner Pays ElectricityInsuranceSewerTaxes - Real EstateWater Ownership Interest Fee Simple Possession Immediate Property Sub Type Triplex Rent Control YN No Sale Type Standard Sewer Public Sewer Structure Design Type Twin/Semi-Detached Tax Annual Amount 1373.50 Tax Assessment Amount 50500.00 Tax Lot 411 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 MileCommuter Rail Station 1 To 5 Miles Vacation Rental YN No Water Source Public Zoning 26R-2

Listing courtesy of Pantano Real Estate Inc.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Allison Stine Team with Northrop Realty a Long and Foster Company. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-26T12:52:58.347.
 
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The Allison Stine Team with Northrop Realty a Long and Foster Company
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Bethany Beach DE, 19930