26 S State St, Dover, DE 19901
- $1,200,000
- List Price
- $1,200,000
- Days on Market
- 172
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- DEKT2044538
- Lot Size (Acres)
- 0.17
- Year Built
- 1900
- County
- Kent
- School District
- Capital
Property Description
Turnkey 9-unit multifamily investment in Dover, surrounded by historic character and ongoing area revitalization. Stabilized asset producing approximately $11,700 per month (4-1-26) in rental income, plus additional income from on-site central washer and dryer facilities. Tenants pay their own gas heat and electric. Owner pays water, sewer, trash, and central hot water. Property has seen numerous recent improvements including updated windows, interior upgrades, select new kitchens, and recently 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. Strong in-place income with additional ancillary revenue and continued upside through future unit improvements and long-term rental demand in the Dover market. Ideal for investors seeking a stabilized asset with proven cash flow.
Additional Information
- Area
- Capital (30802)
- Taxes
- $4757
- Stories
- 3
- School District
- Capital
- Flooring
- Hardwood, Luxury Vinyl Tile
- Heating
- 90% Forced Air
- Heating Fuel
- Natural Gas
- Cooling
- None
- Utilities
- Natural Gas Available
- Water
- Public
- Sewer
- Public Sewer
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Listing courtesy of RE/MAX Horizons. Contact: (302) 678-4300