131 W 18TH ST, Wilmington, DE 19802

Property Description

Exceptional opportunity to acquire a 6-unit multifamily asset with 5 garages in a highly desirable Wilmington submarket known for strong and consistent rental demand. The property offers an attractive unit mix of two 1-bedroom units and four 2-bedroom units, along with a common laundry area, creating multiple income streams and broad tenant appeal. The asset is currently generating $88,740 in annual rental income at a 6.77% cap rate, with significant upside through strategic rent increases and operational improvements. Based on current market comparables, there is an estimated $22,860 in annual rental upside, supporting a projected stabilized income of $111,600 and a 9.04% cap rate. Ideally situated with convenient access to I-95, downtown Wilmington, major employers, and local amenities, the property benefits from strong tenant demand and consistent leasing activity. This offering presents a compelling investment for both new and experienced investors seeking stable in-place cash flow with clear value-add potential. With its solid unit mix, additional income from garages and laundry, and proven rental growth in the area, this asset is well-positioned for both immediate returns and long-term appreciation.

Listing Status:

Active

Data Last Updated:

April 2, 2026 at 7:17AM

Listing Office:

Compass : 3022029855

Listing Agent:

Mark Stape : 3022029855

MLS ID:

DENC2099186

Interior

• Flooring: Wood
• A/C: None
• Heating: Baseboard - ElectricElectric
• Disability Feature: None

Construction

• Roofing: Flat
• General: BrickStone

Location

• Originating MLS: BRIGHT_MAIN
• School District: RED CLAY CONSOLIDATED
• County: NEW CASTLE-DE

Lot

• Zoning: 26R-326-021.40-111

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN