This 5-unit apartment building presents a rare investment opportunity within walking distance of the University of Delaware's main campus. The scarcity of available properties in this prime location enhances its appeal. Four out of the five units are currently rented below market rates, providing potential for increased income. Each unit is equipped with essential amenities including a living room, kitchen, full bathroom, and a bedroom. The tenants are responsible for separate electric bills, except for unit #5 while the owner covers the costs of heat and hot water. The property holds significant development potential, especially given the recent trend of tearing down houses on the block to make way for high-end, multi-bedroom student rentals. The strategic location and evolving landscape make this property a promising investment. Showings are scheduled for Saturday, 02/24/2024, between 1 and 3, respecting the current tenants' preferences to minimize disturbance. Interested parties should seize this opportunity to explore the property and its potential.
