Exceptional opportunity to acquire an 8-unit multifamily property (with potential for a 9th unit subject to zoning) in a highly desirable downtown Wilmington location known for strong and consistent rental demand.
The property offers an attractive and diverse unit mix of four 1-bedroom, three 2-bedroom, and two 3-bedroom units across 6,513 square feet. This well-balanced layout, combined with the opportunity to add a ninth unit, creates strong tenant appeal and multiple avenues for income growth.
The asset has significant value-add upside through leasing the 9th unit, implementing RUBS (80% recapture assumed), and contesting the current property tax assessment of $1,478,500.
Ideally situated near ChristianaCare Wilmington Hospital, with excellent accessibility via I-95, public transportation, and proximity to employment hubs, downtown amenities, and Rodney Square, the property benefits from robust tenant demand and consistent leasing activity in this established neighborhood.
This offering presents a compelling investment for both new and experienced investors seeking stable in-place cash flow with clear, achievable value-add potential. With its diverse unit mix, strong location fundamentals, and multiple levers for income and expense optimization, 1300 N French Street is well-positioned for immediate returns and long-term appreciation in the Wilmington market.