Renovated Four-Unit Multifamily
113 S CHURCH STREET Milford, DE 19963
New
For Sale
$950,000
Renovated four-unit building with new roof, separate utilities, individual HVAC, and fire sprinkler system.
Property Size4,400 SF
Price / SF$215.91
Days on Market7
Property Features for 113 S CHURCH STREET
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Apartment
Building Details
Year Built
1965
Listing Agency:
Compass
(302) 505-0935
Listed By:
Deja Johnson · License #0037685
(302) 505-0935
Source:
Cummingsrealtors
Added: Jul 23
Changed: Jul 27
Last Checked: Jul 29 at 5:01AM
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 Compass
Investment Insights
Based on property information with market context.
This four-unit multifamily property features one 3-bedroom, 1-bath unit and three 2-bedroom, 1-bath units. Extensive renovations have been completed, including a brand-new roof, five new 200-amp electrical services, individually metered water and electric for each unit, separate high-efficiency HVAC systems, all-new plumbing throughout, and a professionally installed fire sprinkler system with a monitored alarm.
The property is described as being just moments from Route 1, with convenient access to shopping, dining, healthcare, schools, and Delaware’s beach destinations.
The offering also notes a potential path to expand rental inventory by constructing an additional multifamily building on the existing parcel, subject to buyer due diligence and all required zoning and municipal approvals. Buyer should conduct due diligence regarding the square footage of each unit.
The property is described as being just moments from Route 1, with convenient access to shopping, dining, healthcare, schools, and Delaware’s beach destinations.
The offering also notes a potential path to expand rental inventory by constructing an additional multifamily building on the existing parcel, subject to buyer due diligence and all required zoning and municipal approvals. Buyer should conduct due diligence regarding the square footage of each unit.
Key Highlights
- Four‑unit multifamily building built in 1965 with 1 x 3‑bedroom/1‑bath unit and 3 x 2‑bedroom/1‑bath units.
- Extensive renovations completed, including a brand‑new roof and all‑new plumbing throughout.
- Utilities are separately metered for each unit with individually metered water and electric.
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 | $71.3k | $16.20 |
| − Vacancy | −$4.6k | −$1.05 |
| EGI | $66.6k | $15.15 |
| − OpEx | −$20.0k | −$4.54 |
| NOI | $46.7k | $10.60 |
4,400 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$666.5K
$583.2K – $777.6K
NOI $46,653 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$617.5K
$540.3K – $720.4K
NOI $43,222 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,638 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated four-unit building with new roof, separate utilities, individual HVAC, and fire sprinkler system.
Where is this quadplex located?
The property is located at 113 S CHURCH STREET Milford, 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: Four‑unit multifamily building built in 1965 with 1 x 3‑bedroom/1‑bath unit and 3 x 2‑bedroom/1‑bath units.; Extensive renovations completed, including a brand‑new roof and all‑new plumbing throughout.; Utilities are separately metered for each unit with individually metered water and electric.
