$599,000

118 W DIVISION ST, Dover, DE 19901

  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1900
  • Property Lot Size Icon3,049sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Fully stabilized 5-unit investment opportunity in the heart of Downtown Dover. All units recently leased within the past two months, providing immediate, reliable cash flow. Four of the five units have been refreshed/updated, reducing near-term capital needs for a new owner. Rents supported and currently at allowable maximum levels, offering strong and consistent income performance. Tenants pay their own utilities, keeping operating expenses low. Property is located within the Downtown Dover revitalization area with ongoing investment, redevelopment, and long-term growth potential nearby. Zoned C-1A, allowing flexible mixed-use possibilities including office, or small commercial applications Turnkey, stabilized rental with strong cap rate potential and minimal vacancy risk.

Listing Status:
Pending
Date Added:
February 27, 2026
Data Last Updated:
April 2, 2026 at 3:20PM
Listing Office:
RE/MAX Horizons : 3026784300
Listing Agent:
Steven B. Schmidt : 3026784326
MLS ID:
DEKT2044594
  • Flooring: Fully carpetedVinyl
  • A/C: None
  • Heating: Baseboard - ElectricOil
  • Disability Feature: None
  • Roofing: Pitched
  • General: Vinyl SidingCrawl Space
  • Originating MLS: BRIGHT_MAIN
  • School District: CAPITAL
  • County: KENT-DE
  • Zoning: C1AED-05-07705-03-6000-000
  • Utilities: Circuit breakers
  • Water: Public
  • Sewer: Public Sewer
  • Source: BRIGHT_MAIN

This listing courtesy of Steven B. Schmidt , RE/MAX Horizons

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

B

Booker T. Washington Elementary School

901 Forest St, Dover, DE, 19904

Grades KG-4

0.61 miles away

C

Central Middle School

211 Delaware Ave, Dover, DE, 19901

Grades 7-8

0.34 miles away

K

Kent County Secondary Ilc

631 Ridgely St Ste 19, Dover, DE, 19904

Grades 6-12

0.62 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.