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    837 W 4TH Street, Wilmington, DE 19801

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    For Sale
    $380,000

    MULTI_FAMILY - Colonial - WILMINGTON, DE

    Property size:
    2,268 SF
    Lot size:
    0.02 Acres
    Price / SF:
    $167/SF
    Added:
    Mar 5, 2026
    Days on Market:
    99
    Last Refresh:
    Jun 12 at 9:06 am

    Property Features for 837 W 4TH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement, Dining Room
    Parking features
    On Street
    Interior features
    Bathroom - Tub Shower, Built-Ins, Ceiling Fan(s), Dining Area
    Appliances
    Cooktop, Microwave, Refrigerator
    Standard status
    Active
    Size
    2,268 SF
    Lot size
    0.02 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5980

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1983
    Number of units
    3
    Building materials
    Brick, Masonry
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Kenneth Van Every

    Listing agent Kenneth Van Every License #RS0022242

    Listing office Keller Williams Realty Wilmington 200 Bellevue Parkway unit: 415, Willmington, DE

    Listing date Mar 5, 2026

    MLS# DENC2097812 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use property in Wilmington with a first‑floor salon plus two 2‑bedroom apartments on the 2nd and 3rd floors
    • Total rents are approximately $4,000/month: 2nd‑floor unit $1,200/mo (tenant pays electric and gas) and 3rd‑floor unit estimated $1,200/mo
    • Corner location with a highly visible entrance and signage facing 4th Street and Adam Street
    • Salon‑ready interior includes waiting area, main salon space, wash area with two stations, and a separate studio space
    • Many major systems reportedly replaced: water heaters, electrical panels, windows, and many interior finishes
    • Basement has separate utilities for the units, including four electrical panels, three hot water heaters, and three gas furnaces plus extra storage

    Overview

    This mixed-use corner property includes a first-floor space previously operated as a salon, plus two apartments on the second and third floors. The salon level features a highly visible entrance with signage and a client waiting area, with the main salon toward the back and room for multiple stylists. A dedicated wash area includes two stations, and a short hall leads to an additional studio space with chair and lighting already in place. The first floor also includes a client half bathroom. The second- and third-floor apartments are accessed through a side entrance on Adams Street, with a common stairway leading to each unit’s private entry. Each apartment includes two bedrooms, updated bathrooms, and a kitchen with ample cabinetry and counter space.

    Recent updates include replaced water heaters, electrical panels, windows, and many interior finishes. The basement provides separate utilities for the units, including four electrical panels, three hot water heaters, and three gas furnaces, along with additional storage.

    The building is fully rented, with a tenant in place on the second floor paying $1,200 per month and covering electric and gas. The third-floor unit has been refreshed with new flooring and paint, and its rent is estimated at $1,200 per month. The first-floor commercial space has historically supported salon use, and the corner frontage on 4th Street and Adam Street provides an identifiable street presence. Convenient access to the City of Wilmington’s Center City amenities is supported by walkability to dining, shopping, transportation, and the train station. 48 hours’ notice is required for showings due to tenants in place.

    Local Financial Insights For Multifamily LT 5

    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 $36.7k $16.20
    − Vacancy −$2.4k −$1.05
    EGI $34.4k $15.15
    − OpEx −$10.3k −$4.54
    NOI $24.0k $10.60
    2,268 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $343.5K
    $300.6K – $400.8K (±1% cap)
    NOI $24,047 @ 7.0% cap · market cap 6.33%
    Second Best
    Retail
    $313.7K
    $274.5K – $366.0K (±1% cap)
    NOI $21,957 @ 7.0% cap · market cap 5.78%
    Theoretical Best
    Office A
    $542.5K
    $474.7K – $632.9K (±1% cap)
    NOI $37,974 @ 7.0% cap · market cap 9.99%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Joyce's Hair Care ... Hair Salon Premier Hair Studios ... Hair Salon

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.55945
    Latitude
    39.74396

    FAQs

    What type of property is this?
    Triplex - Corner mixed-use building with salon-ready first floor and two 2-bedroom apartments, fully tenant-occupied.
    Where is this triplex located?
    The property is located at 837 W 4TH Street Wilmington, DE.
    What is the asking price?
    The asking price for this property is $380,000.
    What are key features of this property?
    This property features: Mixed‑use property in Wilmington with a first‑floor salon plus two 2‑bedroom apartments on the 2nd and 3rd floors; Total rents are approximately $4,000/month: 2nd‑floor unit $1,200/mo (tenant pays electric and gas) and 3rd‑floor unit estimated $1,200/mo; Corner location with a highly visible entrance and signage facing 4th Street and Adam Street
    More about this property
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