11 S Ford Ave Wilmington, DE 19805

Are you looking for a turn-key investment property that produces an immediate return on investment? If so, come see this 4-unit apartment building with long terms tenants in place. Rarely available in the County, this quadruplex has renewable rental permits in place for all units through 5/1/23 and features 3 one-bedroom apartments, 1 efficiency unit, and 2 detached 2-car garages. Each unit has a separate, private entrance and separate meters for electricity and gas within their units. The efficiency unit (11a) has electric baseboard heat and pays for their own heat. The owner pays for heat (in Units 9a, 9b, and 11b), hot water, water/sewer, trash, electric in the basement & garages, property taxes and insurance. Please see income and expense sheet for additional information. The house boiler was replaced in 2018 and all electric panels were replaced in 2005. The property comes with a coin-operating washer and dryer in the basement that are currently used by all tenants – producing additional income. There is also a secured storage space in the basement that is currently used by the owner. The large, detached garages could also be rented for additional income. Three tenants have occupied their units for more than 5 years, of which 2 receive subsidized housing payments from New Castle County (Please see income and expense sheet for additional details). The 4th tenant has been in place for 2 years and would like to stay (Interior pictures are of Unit 9a before it was rented). If you are looking for a solid investment property with good rental history, you don’t want to miss this one!