Multi-Family Investment
116 W 30th Street Wilmington, DE 19802
116 W 30th Street, Wilmington, DE, 19802
$699,000
For Sale
$699,000
Seven-unit multifamily building with one 1-bedroom and six studio units, with portions renovated with modern finishes.
Property Size4,500 SF
Price / SF$155.33
Days on Market91
Property Features for 116 W 30th Street
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1960
Listing agency
EXP Realty, LLC
(302) 983-6553
Listed by
Heather Sinclair
(302) 983-6553
Source
Xome
Added: Apr 23 Updated: Jul 21 at 7:29PM Checked: Jul 22 at 3:52AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained seven-unit multifamily property includes one 1-bedroom unit and six studio units. Public remarks indicate three of the units have been fully renovated with modern finishes, including stainless steel appliances, LVP flooring, and granite countertops. The remaining units are described as having potential for future improvements to increase cash flow.
The property is located near downtown Wilmington, with convenient access to shopping, dining, and transportation routes. Long-term tenants are referenced, along with a low vacancy rate.
As an income-oriented residential building, it offers a mix of studio and one-bedroom layouts within a single 7-unit structure.
The property is located near downtown Wilmington, with convenient access to shopping, dining, and transportation routes. Long-term tenants are referenced, along with a low vacancy rate.
As an income-oriented residential building, it offers a mix of studio and one-bedroom layouts within a single 7-unit structure.
Key Highlights
- Seven‑unit multifamily building with 1 one‑bedroom unit and six studio units
- Three units fully renovated with stainless steel appliances, luxury LVP flooring, and granite countertops
- Year built 1960 with shingle roof
Local 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 | $82.6k | $18.36 |
| − Vacancy | −$5.1k | −$1.14 |
| EGI | $77.5k | $17.22 |
| − OpEx | −$34.9k | −$7.75 |
| NOI | $42.6k | $9.47 |
4,500 SF · lease $18.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$608.9K
$532.8K – $710.4K
NOI $42,624 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$941.8K – $1.26M
NOI $75,345 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Seven-unit multifamily building with one 1-bedroom and six studio units, with portions renovated with modern finishes.
Where is this apartment building located?
The property is located at 116 W 30th Street Wilmington, DE.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Seven‑unit multifamily building with 1 one‑bedroom unit and six studio units; Three units fully renovated with stainless steel appliances, luxury LVP flooring, and granite countertops; Year built 1960 with shingle roof
