Three-Unit Residential
For Sale
$350,000
600 W 5TH ST, Wilmington, DE 19801
Triplex with three 2-bedroom units, each separately served by gas hot water and electric utilities.
Property Size2,775 SF
Price / SF$126.13
Days on Market104
Property Features for 600 W 5TH ST
General Information
Standard status
Active
Size
2,775 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Listing Agency:
Home Realty
(302) 266-7544
Listed By:
Michael Hunter · License #RB-0002727
(302) 690-4144
Source:
Sandrasellstheshore
Added: Jul 12
Changed: Oct 10
Last Checked: Oct 23 at 6:48AM
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 Home Realty
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Investment Insights
Based on property information with market context.
This three-unit residential income property includes three 2-bedroom units, each with 1 bathroom. The building provides separate gas hot water and electric services for each unit, supporting convenient independent utility management.
The property is described as being within walking distance to Downtown Wilmington, the business district, and the Wilmington Riverfront.
Offered for sale as a triplex, the layout is suited for either an investor-focused acquisition or owner-occupancy with additional rental income from the remaining units.
The property is described as being within walking distance to Downtown Wilmington, the business district, and the Wilmington Riverfront.
Offered for sale as a triplex, the layout is suited for either an investor-focused acquisition or owner-occupancy with additional rental income from the remaining units.
Key Highlights
- Triplex built in 1890 with three 2‑bedroom units
- Each unit has separate gas hot water and electric services
- 3 units total, each separately served by gas hot water and electric utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,423
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,460
$588.5K
Cap Rate 7%
$420,329
$420.3K
Cap Rate 9%
$326,922
$326.9K
Market Conditions
NOI Build-Up for 2,775 SF
Gross rent
$45.0K $16.20/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$42.0K $15.15/SF
− OpEx
−$12.6K −$4.54/SF
NOI
$29.4K $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 Rate 5%
$588,460
Cap Rate 7%
$420,329
Cap Rate 9%
$326,922
Alternative Uses
Best Use
Multifamily LT 5
$420.3K
$367.8K – $490.4K
NOI $29,423 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$375.5K
$328.6K – $438.1K
NOI $26,285 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$663.8K
$580.8K – $774.4K
NOI $46,463 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,701
Businesses Nearby
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Business Placement
Demographics for 19801, DE
16,219
Population
9,390
Households
1.7
Avg Household Size
34
Median Age
26%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
3,686
Density / Sq Mi
$44,505
Median Household Income
$36,684
Median Earnings
$1,126
Median Rent
$196,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three 2-bedroom units, each separately served by gas hot water and electric utilities.
Where is this triplex located?
The property is located at 600 W 5TH ST Wilmington, DE.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Triplex built in 1890 with three 2‑bedroom units; Each unit has separate gas hot water and electric services; 3 units total, each separately served by gas hot water and electric utilities
