833 N Washington Street

    WILMINGTON, DE 19801
    • $425,000
    • STATUS: Active
    • ON SITE: 71 days
    • ID#: DENC316702
    Open House
    UPDATED: 129 min ago
    $425,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 4
      BATHS
    • 2
      1/2 BATHS
    Neighborhood:
    Type:
    Single-Family Home
    Built:
    1938
    County:

    School Ratings & Info

    School District:
    Open House: 3/22 10:00 AM to 12:30 PM

    Description

    Here it is a unique New York style multi-office building complex in center city Wilmington, offered with an option to purchase a separate nine space parking lot parcel (502 W. 9th St.). The property currently has five office suites which could easily be transferred into a mixed use, airbnb or just 4-5 contemporary designed apartments. The existing office use is ideal for an owner occupied office professional looking for additional income with a separate entrance to the remaining four office suites located on the four upper floor levels. This is a rare center city three story conversion with the second and third floors being a split design. There is also a fire escape added to comply with city code. The first floor office has a spacious high ceiling reception area with arched style atrium windows and occupies the entire first floor. Behind the reception area, there are seven remaining rooms; five are used for office, conference, library, and or break areas, together with two bathrooms and closet storage. The four remaining office suites which occupy the upper floors of the building have separate entrances and share a common entrance to the street. They all have separate reception areas, separate bathrooms, and separate partitioned rooms for available office space. There is also a kitchenette/conference room on the second floor that accessible to all the upper level office suites. The property is within walking distance of downtown Market St. (Dupont Play House, Grand Opera House, and Queen's World Cafe) the River Front Development and River Walk, Public Transit (train and bus stations), Wilmington's Christiana Care, cafe's, restaurants, wine bars and more! There are several public financing options with the property being situated within the inter city HUD district, borders the creative district targeted by the Wilmington Renaissance Corp, and is within one of~ Delaware's Downtown Development urban renewal districts. This is a perfect opportunity to part of Wilmington's future development, as well as being a good individual or corporate project with a potential of gross income from both properties being $6000.00+/month. Build equity with a positive capitalization rate, full appraisals in May of 2013 determined 833 N. Washington St. market value to be $545,000, and 502 W. 9th St. market value at $85,000. The parking lot parcel 502 W. 9th St. which is ideal for additional parking, being situated directly behind the rear office complex parking,~ is being offered at $130,000.

    Monthly Payment Calculator

    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-03-20T18:10:33.383.
    www.easternshorehomesolutions.com/homes/90668731

    833 N Washington Street WILMINGTON, DE 19801

    • Price: $425,000
    • Status: Active
    • Updated: 129 min ago
    • ID#: DENC316702
    0
    Beds
    4
    Baths
    2
    ½ Baths
    0.06
    Acres
    1938
    Built
    Neighborhood:
    Downtown
    County:
    New Castle
    Area:
    Wilmington (30906)
    School District:
    Christina
    Property Description
    Here it is a unique New York style multi-office building complex in center city Wilmington, offered with an option to purchase a separate nine space parking lot parcel (502 W. 9th St.). The property currently has five office suites which could easily be transferred into a mixed use, airbnb or just 4-5 contemporary designed apartments. The existing office use is ideal for an owner occupied office professional looking for additional income with a separate entrance to the remaining four office suites located on the four upper floor levels. This is a rare center city three story conversion with the second and third floors being a split design. There is also a fire escape added to comply with city code. The first floor office has a spacious high ceiling reception area with arched style atrium windows and occupies the entire first floor. Behind the reception area, there are seven remaining rooms; five are used for office, conference, library, and or break areas, together with two bathrooms and closet storage. The four remaining office suites which occupy the upper floors of the building have separate entrances and share a common entrance to the street. They all have separate reception areas, separate bathrooms, and separate partitioned rooms for available office space. There is also a kitchenette/conference room on the second floor that accessible to all the upper level office suites. The property is within walking distance of downtown Market St. (Dupont Play House, Grand Opera House, and Queen's World Cafe) the River Front Development and River Walk, Public Transit (train and bus stations), Wilmington's Christiana Care, cafe's, restaurants, wine bars and more! There are several public financing options with the property being situated within the inter city HUD district, borders the creative district targeted by the Wilmington Renaissance Corp, and is within one of~ Delaware's Downtown Development urban renewal districts. This is a perfect opportunity to part of Wilmington's future development, as well as being a good individual or corporate project with a potential of gross income from both properties being $6000.00+/month. Build equity with a positive capitalization rate, full appraisals in May of 2013 determined 833 N. Washington St. market value to be $545,000, and 502 W. 9th St. market value at $85,000. The parking lot parcel 502 W. 9th St. which is ideal for additional parking, being situated directly behind the rear office complex parking,~ is being offered at $130,000.
    Exterior Features

    Architectural Style Trinity Construction Materials Advanced FramingBlockBrick Direction Faces East Garage YN No Other Structures Above GradeBelow Grade Parking Types DrivewayOff Site Pool No Pool Riparian Rights YN No Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Above Grade Fin SQFT 0 Basement Connecting Stairway Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Central A/CZoned Fireplace YN No Flooring CarpetHardwood Heating Forced AirHot WaterSteamZonedBaseboard - Hot Water Heating YN Yes Interior Features EfficiencyBuilt-InsCarpetKitchen - EfficiencyWalk-In Closet(S)WainscottingStore/OfficeWood Floors Levels 3+ Main Level Bedrooms 0 Rooms Total 24 Walls Ceilings 9'+ Ceilings

    Property Features

    Acceptable Financing FhaWrap Accessibility Features None Association YN No Central Air YN Yes Condo YN No Cooling Fuel Electric Cross Street Washington & 9th Street Foundation Details Block Heating Fuel Natural GasOil Incorporated City Name Wilmington Lease Considered YN Yes Navigable Water YN N New Construction YN No Original MLSNumber 301273524448 Ownership Interest Fee Simple Possession Immediate Sale Type Standard Senior Community YN No Sewer Public Sewer Structure Design Type Other Tax Annual Amount 5664.0 Tax Assessment Amount 195800.0 Tax Lot 262 Vacation Rental YN No Water Source Public Year Built Effective 1990 Zoning 26C-4

    Listing courtesy of Realty Mark Associates - Newark.
    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-03-20T18:10:33.383.
     
    Long and Foster Real Estate
    107 Williamsport Circle
    Salisbury MD, 21804