1400 & 1408 Delaware Ave

Highlights:

• Days on Market: 9
• Heating: 90% Forced Air, Baseboard - Hot Water

Description:

Investment Opportunity – Monument Square Apartments | Trolley Square, Wilmington, DE
Monument Square Apartments presents a rare opportunity to acquire a stabilized 8-unit multifamily asset along with a buildable lot in the heart of Wilmington’s highly desirable Trolley Square neighborhood. The offering consists of two adjoining, three-story brick buildings situated on separate parcels—each apartment uniquely designed, with individually metered utilities, providing operational efficiency and tenant autonomy. Current ownership has invested in comprehensive improvements over the past five years, including both cosmetic upgrades and essential system enhancements across all units. These capital improvements have elevated the asset’s marketability while significantly reducing near-term maintenance exposure. The property is cash-flow positive with strong in-place income and additional upside potential through future rent growth in a supply-constrained, high-demand submarket. The adjacent buildable lot offers capacity for 4–6 new two-bedroom units, presenting a valuable expansion or development opportunity. For scale-focused investors, the asset may be acquired in conjunction with two neighboring buildings totaling an additional 21 units, enabling immediate portfolio growth in one of Wilmington’s most sought-after rental corridors. Financials, rent roll, and development schematics available upon request

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Listing ID: 804305637318