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800-441-8118

105 E HOLLY OAK RD, WILMINGTON

MLS #DENC510256
Listing Image Placeholder

$ 295,000

  • Description

    Welcome to Holly Oak Terrace in North Wilmington! A quaint and quiet community of mostly single detached structures sitting on spacious parcels perched above the Delaware River. This fully detached three unit building has been owned and operated by family over the last 20+ years and they are now reluctantly offering it for a new owner. I say reluctantly because it has been an excellent performing asset that has provided a generous amount of cash flow and other benefits over the years that are associated with real estate ownership. Extra large lot provides ample off street parking for occupants. Open and airy front porch looking East provides a cozy space to relax after a long days efforts on the job. Three, two bedroom units are spread out inside the structure. Common area entrance provides access to the main floor unit and a set of stairs that lead to the second floor which provide formal access to units two and three. Unit one has a porch out back which affords it a private entrance. Second floor unit has been freshly updated, remodeled and is currently vacant, just waiting for the next owner to source a tenant or potentially move in, and continue to rent the other two units out for cash flow. Third floor unit has access inside and then a set of stairs in the apartment that leads to the third floor with a majority of the living space. This unit also has a private exterior access thanks to a set of wooden steps from the yard up. Utilities are electric hot water, electric base board heat so the only thing paid for by the owner is water/sewer, common area electric, trash removal and other maintenance associated with grass/snow , ECT. The current occupants have been in place for many, many years and the current rents are well below market. These tenants are on month to month status currently and options for the next owner are unlimited. Excellent opportunity to start your real estate investing career with this building which has received new vinyl siding, features an updated roof, many new windows and otherwise has been properly maintained by careful, hands on owner. Or add this to your flourishing portfolio if you're a seasoned operator. This could also be purchased by an end user whom could live in one unit and let the cash flow from the other two subsidize expenses and operation of the building. Very rare do multi-family offerings arise in this location so don't hesitate!
    Listed By: 
    Alliance Realty
  • Property Details

    Property Type:

    Style: 
    Colonial
    Lot Size ( W x L ): 
    100.00 x 140.00
    Lot Sq. Feet: 
    10,454
    Year Built: 
    1920
    County Tax: 
    $398.00
    City Tax: 
    $0.00
    School District: 
    BRANDYWINE
  • Exterior Features
    Foundation: 
    Stone
    Construction Type: 
    Frame
    Roofing: 
    Shingle

    Exterior Features:

    Sewer: 
    Public Sewer
    Water: 
    Public
  • Interior Features
    Heating System: 
    Hot Water
    Cooling System: 
    None
    Primary Flooring: 
    Vinyl
    Basement: 
    Partial

Map

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