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Stabilized 5-Unit Investment Opportunity

118 W DIVISION St, Dover, DE 19901

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For Sale

$599,000

Downtown Dover investment property with immediate cash flow.

Type:Commercial

HighLights

Fully stabilized 5‑unit property with immediate, reliable cash flow.
Rents at allowable maximum levels, ensuring strong income performance.
Four of five units recently refreshed/updated, minimizing near‑term capital needs.
Tenants pay their own utilities, keeping operating expenses low.
Located in Downtown Dover revitalization area with long‑term growth potential.
Zoned C‑1A, allowing flexible mixed‑use possibilities.

We can help!

Listing Contact

Steven B. Schmidt

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For Sale

$599,000

Downtown Dover investment property with immediate cash flow.

Type:Commercial

Added:: Apr 24, 2026
Days on Market:: 53
Last Refresh:: Apr 24 at 4:30 pm

Property Features for 118 W DIVISION St

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 1900

We can help!

Listing Contact

Steven B. Schmidt

Listing agent Steven B. Schmidt License #RB-0031118

Listing office REMAX Horizons, Inc

Listing date Apr 24, 2026

Source Elliman

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 REMAX Horizons, Inc

HighLights

Fully stabilized 5‑unit property with immediate, reliable cash flow.
Rents at allowable maximum levels, ensuring strong income performance.
Four of five units recently refreshed/updated, minimizing near‑term capital needs.
Tenants pay their own utilities, keeping operating expenses low.
Located in Downtown Dover revitalization area with long‑term growth potential.
Zoned C‑1A, allowing flexible mixed‑use possibilities.

Overview

This is a fully stabilized 5-unit investment opportunity located in Downtown Dover. All units have been recently leased within the past two months, providing immediate and reliable cash flow. Four of the five units have been refreshed or updated, reducing near-term capital needs for a new owner. Rents are supported and currently at allowable maximum levels, offering strong and consistent income performance. Tenants are responsible for their own utilities, which helps to keep operating expenses low. The property is located within the Downtown Dover revitalization area, which features ongoing investment, redevelopment, and long-term growth potential nearby. The property is zoned C-1A, allowing for flexible mixed-use possibilities including office or small commercial applications. This is a turnkey, stabilized rental with strong cap rate potential and minimal vacancy risk. The bike score is 67, indicating it is bikeable. The transit score is 29, indicating some transit is available. The walk score is 0, indicating it is somewhat walkable.

Location Intelligence

Current Use by Public Records

Conscious cleaners Dover ... General Contractor

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Location Insight

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Local Demand

City: Dover
County: Kent
State: Delaware
Longitude: -75.5276827
Latitude: 39.1610748

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For sale
Apartment buildings
DE
Dover
19901
118 W DIVISION St

What type of property is this?

Apartment building - Downtown Dover investment property with immediate cash flow.

Where is this apartment building located?

The property is located at 118 W DIVISION St Dover, DE.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: Fully stabilized 5‑unit property with immediate, reliable cash flow.; Rents at allowable maximum levels, ensuring strong income performance.; **Four of five units recently refreshed/updated, minimizing near‑term capital needs.**

118 W DIVISION St, Dover, DE 19901

Downtown Dover investment property with immediate cash flow.

Property Features for 118 W DIVISION St

General Information

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Medical Office Parcel with Tenant

Historic Building in Downtown Dover

Turnkey Multifamily Investment Property

Second-Floor Office Condo

Retail Development Site with Access

Two-Unit Office Condominium

Commercial Property on DuPont Highway

Pizza Hut-Anchored Retail Center

Medical Office Condo with Flexible Layout

Versatile Commercial Property with Remodeled Home

Retail/Flex Property on Route 13

Dover Commercial Properties For Sale

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