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    105 E Holly Oak Road

    WILMINGTON, DE 19809
    • $295,000
    • STATUS: Active
    • ON SITE: 59 days
    • ID#: DENC510256
    $295,000
    • 0
      BEDS
    • 0.24
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,875
      SQFT
    • $157
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1920
    County:

    School Ratings & Info

    School District:

    Description

    Welcome to Holly Oak Terrace in North Wilmington! A quaint and quiet community of mostly single detached structures sitting on spacious parcels perched above the Delaware River. This fully detached three unit building has been owned and operated by family over the last 20+ years and they are now reluctantly offering it for a new owner. I say reluctantly because it has been an excellent performing asset that has provided a generous amount of cash flow and other benefits over the years that are associated with real estate ownership. Extra large lot provides ample off street parking for occupants. Open and airy front porch looking East provides a cozy space to relax after a long days efforts on the job. Three, two bedroom units are spread out inside the structure. Common area entrance provides access to the main floor unit and a set of stairs that lead to the second floor which provide formal access to units two and three. Unit one has a porch out back which affords it a private entrance. Second floor unit has been freshly updated, remodeled and is currently vacant, just waiting for the next owner to source a tenant or potentially move in, and continue to rent the other two units out for cash flow. Third floor unit has access inside and then a set of stairs in the apartment that leads to the third floor with a majority of the living space. This unit also has a private exterior access thanks to a set of wooden steps from the yard up. Utilities are electric hot water, electric base board heat so the only thing paid for by the owner is water/sewer, common area electric, trash removal and other maintenance associated with grass/snow , ECT. The current occupants have been in place for many, many years and the current rents are well below market. These tenants are on month to month status currently and options for the next owner are unlimited. Excellent opportunity to start your real estate investing career with this building which has received new vinyl siding, features an updated roof, many new windows and otherwise has been properly maintained by careful, hands on owner. Or add this to your flourishing portfolio if you're a seasoned operator. This could also be purchased by an end user whom could live in one unit and let the cash flow from the other two subsidize expenses and operation of the building. Very rare do multi-family offerings arise in this location so don't hesitate!

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or CoastLine Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-11-29T23:50:14.117.
    www.coastline-realty.com/homes/110595299
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    105 E Holly Oak Road WILMINGTON, DE 19809

    • Price: $295,000
    • Status: Active
    • ID#: DENC510256
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.24
    Acres
    1,875
    SQFT
    $157
    $/SQFT
    1920
    Built
    Neighborhood:
    Brandywine (30901)
    County:
    New Castle
    Area:
    Brandywine (30901)
    School District:
    Brandywine
    Property Description
    Welcome to Holly Oak Terrace in North Wilmington! A quaint and quiet community of mostly single detached structures sitting on spacious parcels perched above the Delaware River. This fully detached three unit building has been owned and operated by family over the last 20+ years and they are now reluctantly offering it for a new owner. I say reluctantly because it has been an excellent performing asset that has provided a generous amount of cash flow and other benefits over the years that are associated with real estate ownership. Extra large lot provides ample off street parking for occupants. Open and airy front porch looking East provides a cozy space to relax after a long days efforts on the job. Three, two bedroom units are spread out inside the structure. Common area entrance provides access to the main floor unit and a set of stairs that lead to the second floor which provide formal access to units two and three. Unit one has a porch out back which affords it a private entrance. Second floor unit has been freshly updated, remodeled and is currently vacant, just waiting for the next owner to source a tenant or potentially move in, and continue to rent the other two units out for cash flow. Third floor unit has access inside and then a set of stairs in the apartment that leads to the third floor with a majority of the living space. This unit also has a private exterior access thanks to a set of wooden steps from the yard up. Utilities are electric hot water, electric base board heat so the only thing paid for by the owner is water/sewer, common area electric, trash removal and other maintenance associated with grass/snow , ECT. The current occupants have been in place for many, many years and the current rents are well below market. These tenants are on month to month status currently and options for the next owner are unlimited. Excellent opportunity to start your real estate investing career with this building which has received new vinyl siding, features an updated roof, many new windows and otherwise has been properly maintained by careful, hands on owner. Or add this to your flourishing portfolio if you're a seasoned operator. This could also be purchased by an end user whom could live in one unit and let the cash flow from the other two subsidize expenses and operation of the building. Very rare do multi-family offerings arise in this location so don't hesitate!
    Exterior Features

    Architectural Style Colonial Construction Materials Frame Exterior Features Exterior LightingStreet Lights Garage YN No Other Structures Above GradeBelow Grade Parking Features Dirt Driveway Parking Types Off Street Pool No Pool Property Condition Good Riparian Rights YN No Roof PitchedShingle Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Above Grade Fin SQFT 1875 Basement Partial Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling None Exclusions Tenant Personal Property Fireplace YN No Fireplaces Total 0 Flooring CarpetVinyl Heating Hot Water Heating YN Yes Inclusions As Shown Single Room Units 0 Spa YN No Three Bedroom Units 0 Two Bedroom Units 3 Units Furnished None Walls Ceilings Dry WallPlaster Walls

    Property Features

    Acceptable Financing CashConventionalFha 203(K) Accessibility Features None Assessment Year 2020 Association YN No Central Air YN No Cooling Fuel None Cross Street Cherry St. Existing Lease Type Month To Month Foundation Details Stone Heating Fuel Electric Historic YN No Hot Water Electric Navigable Water YN N New Construction YN No Number Of Units Leased 2 Number Of Units Total 3 Number Of Units Vacant 1 Original MLSNumber 304324194282 Owner Pays ElectricityInsuranceLawn/Shrub CareSewerSnow RemovalTaxes - Real EstateWaterTrash Collection Ownership Interest Fee Simple Possession Immediate Property Sub Type Triplex Rent Control YN No Sale Type Standard Sewer Public Sewer Structure Design Type Detached Tax Annual Amount 1698.00 Tax Assessment Amount 48000.00 Tax Lot 099 Total Actual Rent 21600.00 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 MileCommuter Rail Station Less Than 1 Mile Vacation Rental YN No Water Source Public Year Built Effective 2020 Zoning Nc6.5

    Listing courtesy of Alliance Realty.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or CoastLine Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-11-29T23:50:14.117.
     
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    Dover DE, 19904