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    816 W 8Th St Wilmington, DE 19801

    Under Contract
    For Sale
    $569,000

    MULTI_FAMILY - Other - WILMINGTON, DE

    Property size:
    3,175 SF
    Lot size:
    0.07 Acres
    Days on Market:
    31
    Last Refresh:
    Dec 5 at 10:06 pm

    Property Features for 816 W 8Th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Parking
    4
    Parking features
    Driveway
    Size
    3,175 SF
    Lot size
    0.07 Acres

    Utilities

    Heating system
    Electric (Heating), Baseboard

    Building Details

    Year built
    1920
    Number of units
    4
    Building materials
    Brick
    Architectural style
    Other

    Realty Mark Concord (302) 477-0400 [email protected]

    Listing agent Manuel M Alvarado (302) 740-3684 License #RS-0014549

    Listing date Nov 5, 2025

    MLS# DENC2090758 Listing URL

    Copyright © 2025 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wilmington Turnkey Apartment Building

    This is a turnkey, income-producing apartment building located in Wilmington. The property features five units: two 2-bedroom units and three 1-bedroom units. Currently, four units are occupied, with one pending a new tenant, providing immediate cash flow. The rents are currently below market value, presenting an opportunity for increased returns through rent adjustments. Most leases are month-to-month with long-term tenants. The property includes a partially finished basement that offers potential for an owner's office or additional storage. The property is being sold as-is and is in good overall condition. The building is suitable for investors seeking strong rental demand and long-term growth potential. The property size is 3175 square feet and the lot size is 0.07 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.55766
    Latitude
    39.74657

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    FAQs

    What type of property is this?
    Apartment building - Turnkey 5-unit apartment building in Wilmington with income potential.
    Where is this apartment building located?
    The property is located at 816 W 8Th St Wilmington, DE.
    What is the asking price?
    The asking price for this property is $569,000.
    What are key features of this property?
    This property features: - Turnkey 5-unit apartment building providing immediate cash flow with 4 of 5 units currently occupied.; - Opportunity for increased returns through rent adjustments, as rents are currently below market.; - Desirable unit mix: **two spacious 2-bedroom units** and three 1-bedroom units.
    (302) 740-3684
    Request Owner's contact information
    816 W 8Th St Wilmington, DE 19801
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    Wilmington, DE 19801
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    816 W 8Th St Wilmington, DE 19801
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