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Turnkey Multifamily Investment Property

26 S STATE St, Dover, DE 19901

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For Sale

$1,200,000

Nine-unit multifamily property in Dover with strong in-place income.

Type:Investment

HighLights

Turnkey 9‑unit multifamily investment property
Stabilized asset producing approximately $11,700 per month in rental income, plus additional income from on‑site laundry
Tenants pay their own gas heat and electric
Numerous recent improvements including updated windows, interior upgrades, select new kitchens, and new flooring in most units
Strong in‑place income with continued upside through future unit improvements
Located in Dover, surrounded by historic character and ongoing area revitalization

We can help!

Contact an agent

Steven B. Schmidt

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For Sale

$1,200,000

Nine-unit multifamily property in Dover with strong in-place income.

Type:Investment

Added:: Apr 24, 2026
Days on Market:: 65
Last Refresh:: Apr 24 at 4:30 pm

Property Features for 26 S STATE St

General Information

Standard status: Active
Property subtype: Investment

Building Details

Year Built: 1900

We can help!

Contact an agent

Steven B. Schmidt

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

Turnkey 9‑unit multifamily investment property
Stabilized asset producing approximately $11,700 per month in rental income, plus additional income from on‑site laundry
Tenants pay their own gas heat and electric
Numerous recent improvements including updated windows, interior upgrades, select new kitchens, and new flooring in most units
Strong in‑place income with continued upside through future unit improvements
Located in Dover, surrounded by historic character and ongoing area revitalization

Overview

This is a turnkey nine-unit multifamily investment property located in Dover. The property is situated in an area characterized by historic charm and ongoing revitalization. As of April 1, 2026, the stabilized asset generates approximately $11,700 per month in rental income, with additional revenue from on-site central washer and dryer facilities. Tenants are responsible for their individual gas heat and electric expenses, while the owner covers the costs of water, sewer, trash, and central hot water. The property has undergone several recent improvements, including updated windows, interior upgrades, select new kitchens, and newly installed flooring in most units. Hallways have been refreshed with new flooring and paint. Capital improvements include a new fire escape and some newer heating systems. The property presents a strong in-place income stream, with potential for additional ancillary revenue and future upside through continued unit improvements and sustained rental demand in the Dover market. It is suitable for investors seeking a stabilized asset with proven cash flow. The property has a bike score of 56, indicating it is bikeable, a walk score of 79, indicating it is very walkable, and a transit score of 42, indicating some transit options are available.

Location Intelligence

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Local Demand

City: Dover
County: Kent
State: Delaware
Longitude: -75.5258165
Latitude: 39.1608228

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For sale
Apartment buildings
DE
Dover
19901
26 S STATE St

What type of property is this?

Apartment building - Nine-unit multifamily property in Dover with strong in-place income.

Where is this apartment building located?

The property is located at 26 S STATE St Dover, DE.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: Turnkey 9‑unit multifamily investment property; Stabilized asset producing approximately $11,700 per month in rental income, plus additional income from on‑site laundry; Tenants pay their own gas heat and electric