158-Unit Multifamily Portfolio Multi-Family FOR SALE


Wilmington, DE - Browntown
$14,200,000 USD
215-454-2852
, Wilmington, DE for Sale
$14,200,000 USD
Multi-Family - FOR SALE
1/13
null | 8.2% Cap Rate

158-Unit Multifamily Portfolio
Wilmington, DE
Browntown


HIGHLIGHTS

  • Strong Occupancy: Historically and Currently 90% Occupancy or Better
  • Rental Upside: Opportunity to Increase In-Place Rents Up to 10% with Minimal Improvements
  • Desired Unit Mix: Studio, 1-, 2-, and 3-Bedroom Floor Plans
  • Excellent Location: Minutes to Business District, Riverfront, and ShopRite Anchored Christiana Crossing
  • Proximity to Public Transit & Highways: Wilmington Train Station (SEPTA and Amtrak Routes); Interstates 95 and 495

OVERVIEW

GREA (Global Real Estate Advisors) exclusively presents the opportunity to acquire the fee simple interest in a 158-unit multifamily portfolio in Wilmington, Delaware. Most properties are within walking distance of Wilmington’s Central Business District, and all locations offer easy access to public transportation and Interstate 95. Properties within the Portfolio are situated around Downtown Wilmington and are ±40 minutes from Center City Philadelphia, ±75 minutes from Baltimore, and 2 hours from New York City and Washington D.C. The Portfolio comprises 23 parcels, most situated within a couple blocks of one another, with 156 apartment units and 2 commercial units. The properties are 90% occupied and have historically run at 90% or better given the excellent location and attractive unit layouts. The Portfolio boasts an attractive unit mix with studio, 1-, 2-, and 3-bedroom apartments. Upside Potential - The Portfolio offers potential buyers an excellent opportunity to increase rents with minimal work to be done to the apartments. The Market Rent Surveys (pages 16-21) support up to a 10% rental increase “as is”. The 158-Unit Multifamily Portfolio presents potential buyers with the opportunity to have an immediate presence in the heart of Downtown Wilmington with exceptional upside potential.

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215-454-2852

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215-454-2852

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