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1300 N French St
Wilmington, DE 19801
Asking Price
$1.25M
Cap Rate
5.48%
Asset Type
Apartment Building Multifamily
Class
Class B
What's Special
8/9 Unit Apartment with Value Add Potential <ul><li>8-Unit multifamily with potential 9th unit subject to zoning</li><li>Value add through leasing up the 9th unit and contesting the property tax assessment of $1,478,500 to reduce the tax bill.</li><li>Additional value add opportunity through RUBS implementation (80% recapture assumption).</li><li>Stabilized 6.77% cap rate</li><li>Strong Wilmington rental demand</li><li>Proximity to employment hubs</li><li>Excellent accessibility via I95 and public transportation</li><li>Downtown l
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NOI
$80,000
Cap Rate
6.40%
DSCR
1.08
Tight
Cash-on-Cash
1.54%
Monthly Payment
$6,184.318
Annual Cash Flow
$5,788.184
