Nine-Unit Apartment
100110038 W 8TH STREET Wilmington, DE 19806
For Sale
$950,000
Nine-unit multifamily property consists of two structures with separate entrances and a shared access basement.
Property Size4,350 SF
Price / SF$218.39
Days on Market101
Property Features for 100110038 W 8TH STREET
General Information
- Standard status
- Active
- Size
- 4,350 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1889
Listing Agency:
Pantano Real Estate Inc
(302) 740-5524
Listed By:
Joseph P Hurley · License #RS-0018346
(302) 740-5524
Source:
Xome
Added: Apr 16
Changed: Jul 24
Last Checked: Jul 25 at 2:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pantano Real Estate Inc
Investment Insights
Based on property information with market context.
This nine-unit apartment building is comprised of two separate structures with independent entrances and a common access basement. The property is arranged with four units in one structure and five units in the other. Each structure has separate systems, supporting straightforward day-to-day operation and ownership management.
The building is located on the west side of Wilmington with convenient access to highways and nearby employment and neighborhood destinations, including Trolley Square, Union Street, and the downtown Central Business District. A small amount of off-street parking is available to support tenants and management.
The mix of units offers a blend of modern and functional living spaces within a compact, two-building configuration designed for efficient building operations.
The building is located on the west side of Wilmington with convenient access to highways and nearby employment and neighborhood destinations, including Trolley Square, Union Street, and the downtown Central Business District. A small amount of off-street parking is available to support tenants and management.
The mix of units offers a blend of modern and functional living spaces within a compact, two-building configuration designed for efficient building operations.
Key Highlights
- 9‑unit multifamily property made up of two structures with separate entrances
- Unit mix: 1001 has 4 units and 1003 has 5 units
- Shared access basement with common entry for the two structures
Financial Insights For Apartment 5plus
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 | $79.9k | $18.36 |
| − Vacancy | −$5.0k | −$1.14 |
| EGI | $74.9k | $17.22 |
| − OpEx | −$33.7k | −$7.75 |
| NOI | $41.2k | $9.47 |
4,350 SF · lease $18.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$588.6K
$515.0K – $686.7K
NOI $41,203 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$910.4K – $1.21M
NOI $72,834 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Nine-unit multifamily property consists of two structures with separate entrances and a shared access basement.
Where is this apartment building located?
The property is located at 100110038 W 8TH STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 9‑unit multifamily property made up of two structures with separate entrances; Unit mix: 1001 has 4 units and 1003 has 5 units; Shared access basement with common entry for the two structures
