1400 & 1408 DELAWARE AVE, Wilmington, DE 19806

Property Description

Investment Opportunity – Monument Square Apartments | Trolley Square, Wilmington, DE Monument Square Apartments presents a rare opportunity to acquire a stabilized 8-unit multifamily asset along with a buildable lot in the heart of Wilmington’s highly desirable Trolley Square neighborhood. The offering consists of two adjoining, three-story brick buildings situated on separate parcels—each apartment uniquely designed, with individually metered utilities, providing operational efficiency and tenant autonomy. Current ownership has invested in comprehensive improvements over the past five years, including both cosmetic upgrades and essential system enhancements across all units. These capital improvements have elevated the asset’s marketability while significantly reducing near-term maintenance exposure. The property is cash-flow positive with strong in-place income and additional upside potential through future rent growth in a supply-constrained, high-demand submarket. The adjacent buildable lot offers capacity for 4–6 new two-bedroom units, presenting a valuable expansion or development opportunity. For scale-focused investors, the asset may be acquired in conjunction with two neighboring buildings totaling an additional 21 units, enabling immediate portfolio growth in one of Wilmington’s most sought-after rental corridors. Financials, rent roll, and development schematics available upon request

Listing Status:

Active

Listing Office:

Long & Foster Real Estate, Inc. : 3023515000

Listing Agent:

Buzz Moran : 3027406529

MLS ID:

DENC2093002

Interior

• A/C: Central A/C
• Heating: 90% Forced AirBaseboard - Hot WaterNatural Gas
• Disability Feature: None

Construction

• General: BrickMasonryStone

Location

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

Lot

• Zoning: 26R-2A26-020.20-183

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN

This listing courtesy of Buzz Moran, Long & Foster Real Estate, Inc.