Brick Quadplex With Off-Street
For Sale
$415,000
326 6th Avenue, Wilmington, DE 19805
Solid brick quadplex with four units, three off-street parking spaces, and a large basement with potential for added laundry income.
Property Size1,850 SF
Price / SF$224.32
Days on Market21
Property Features for 326 6th Avenue
General Information
Standard status
Active
Size
1,850 SF
Total Parking Spaces
3
Property subtype
Multi-Family / Fee Simple
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Wilmington
(201) 741-8110
Listed By:
Kelly Diaz · License #RS0036820
(201) 741-8110
Source:
Compass
Added: Jul 18
Changed: Jul 21
Last Checked: Jul 28 at 2:28PM
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 Keller Williams Realty Wilmington
Investment Insights
Based on property information with market context.
This solid brick quadplex offers four rental units: three one-bedroom apartments and one efficiency. Three units are currently rented, and the remaining vacant unit provides flexibility for an owner-occupant or a new tenant. Tenants pay their own utilities, while the owner is responsible for water and sewer. Several units have been updated, and the property also includes three off-street parking spaces.
Located in city limits in New Castle County near the Riverfront, the property is in the Christina School District. A large basement adds additional potential for coin-operated laundry facilities, creating another possible income stream.
The listing agent must be present for all showings, and a minimum of 48 hours’ notice is required.
Located in city limits in New Castle County near the Riverfront, the property is in the Christina School District. A large basement adds additional potential for coin-operated laundry facilities, creating another possible income stream.
The listing agent must be present for all showings, and a minimum of 48 hours’ notice is required.
Key Highlights
- Solid brick quadplex with 4 units: three 1‑bedroom apartments and one efficiency
- Three units currently rented and one vacant unit for flexible use or adding a new tenant
- Tenants pay their own utilities; owner pays water and sewer
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,615
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$392,300
$392.3K
Cap Rate 7%
$280,214
$280.2K
Cap Rate 9%
$217,944
$217.9K
Market Conditions
NOI Build-Up for 1,850 SF
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.
Gross rent
$30.0K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$28.0K $15.15/SF
− OpEx
−$8.4K −$4.54/SF
NOI
$19.6K $10.60/SF
Area
New Castle County, DE
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$392,300
Cap Rate 7%
$280,214
Cap Rate 9%
$217,944
Alternative Uses
Best Use
Multifamily LT 5
$280.2K
$245.2K – $326.9K
NOI $19,615 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$250.3K
$219.0K – $292.1K
NOI $17,523 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$442.5K
$387.2K – $516.3K
NOI $30,975 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 19805, DE
39,985
Population
17,281
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
7,270
Density / Sq Mi
$56,708
Median Household Income
$38,043
Median Earnings
$1,203
Median Rent
$220,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Solid brick quadplex with four units, three off-street parking spaces, and a large basement with potential for added laundry income.
Where is this quadplex located?
The property is located at 326 6th Avenue Wilmington, DE.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Solid brick quadplex with 4 units: three 1‑bedroom apartments and one efficiency; Three units currently rented and one vacant unit for flexible use or adding a new tenant; Tenants pay their own utilities; owner pays water and sewer
