Corner Mixed-Use Triplex with
837 W 4TH Street Wilmington, DE 19801
837 W 4TH Street, Wilmington, DE, 19801
$375,000
For Sale
$375,000
MULTI_FAMILY - Colonial - WILMINGTON, DE
Property Size2,268 SF
Lot Size0.02 Acres
Price / SF$165.34
Days on Market139
Property Features for 837 W 4TH Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Dining Room, Basement
- Parking features
- On Street
- Interior features
- Bathroom - Tub Shower, Built-Ins, Ceiling Fan(s), Dining Area
- Appliances
- Cooktop, Microwave, Refrigerator
- Standard status
- Active
- Size
- 2,268 SF
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5980
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1983
- Number of units
- 3
- Building materials
- Brick, Masonry
- Architectural style
- Colonial
Listing agency
Keller Williams Realty Wilmington
(302) 299-1100
Listed by
Kenneth Van Every · License #RS0022242
(302) 529-1857
Added: Mar 5 Updated: Jul 13 at 10:50AM Checked: Jul 22 at 8:06PM
MLS# DENC2097812
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This corner mixed-use triplex includes an operating salon on the first floor and two 2-bedroom apartment units on the second and third floors. The salon features a highly visible entrance with signage facing 4th Street and Adam Street, a waiting area, main salon work area, a wash area with two stations, a short hall to an additional studio space with chair and lighting, and a half bathroom for client use. Each apartment is accessed via a side/common stair configuration, with separate entrances tied to the Adam Street side and a common stairway serving the upper units. Apartment interiors include updated bathroom(s) and kitchens with counter space, compact refrigerators, and cabinetry, with bedrooms positioned front to back and closet space in each unit.
The building has undergone replacements in recent years, including water heaters, electrical panels, windows, and many interior finishes. Basement utilities are separated by unit, including four electrical panels, three hot water heaters, and three gas furnaces, with storage available in the basement.
All units are currently tenant-occupied under existing arrangements, and a 48-hour notice is required for showings due to tenants in place.
The building has undergone replacements in recent years, including water heaters, electrical panels, windows, and many interior finishes. Basement utilities are separated by unit, including four electrical panels, three hot water heaters, and three gas furnaces, with storage available in the basement.
All units are currently tenant-occupied under existing arrangements, and a 48-hour notice is required for showings due to tenants in place.
Key Highlights
- Mixed‑use property with salon operating on a 5‑year lease at $1,600/month plus two 2‑bedroom apartments
- Total current gross rents are $4,000/month: salon $1,600/month, and two apartments at $1,200/month each
- 1983 colonial brick/masonry building; forced‑air heat; on‑street parking
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.7k | $16.20 |
| − Vacancy | −$2.4k | −$1.05 |
| EGI | $34.4k | $15.15 |
| − OpEx | −$10.3k | −$4.54 |
| NOI | $24.0k | $10.60 |
2,268 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$343.5K
$300.6K – $400.8K
NOI $24,047 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$306.9K
$268.5K – $358.0K
NOI $21,482 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$542.5K
$474.7K – $632.9K
NOI $37,974 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Joyce's Hair Care ...
Hair Salon
Premier Hair Studios ...
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Tenant-occupied corner triplex with a street-facing salon on the first floor and two 2-bedroom apartments above.
Where is this triplex located?
The property is located at 837 W 4TH Street Wilmington, DE.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Mixed‑use property with salon operating on a 5‑year lease at $1,600/month plus two 2‑bedroom apartments; Total current gross rents are $4,000/month: salon $1,600/month, and two apartments at $1,200/month each; 1983 colonial brick/masonry building; forced‑air heat; on‑street parking
