Property
Wilmington, DE 19806 1401 & 1403 N Broom Street
$1,995,000
10 more
Presented By: Long & Foster Real Estate, Inc.
Beds • 9
Home Details
Investment Opportunity Monument Square Apartments presents a rare chance to acquire a stabilized 10-unit multifamily property in Wilmingtons sought-after Trolley Square neighborhood. The asset consists of two adjoining three-story brick buildings on separate parcels, with each apartment featuring its own character and separately metered utilities. Over the past five years, ownership has invested in both cosmetic updates and key system improvements across all units, enhancing tenant appeal and reducing near-term capital needs. The property is well-positioned to provide consistent cash flow with upside through future rent growth in a high-demand submarket. For scale-minded investors, this property can also be acquired with two adjacent buildings totaling 19 additional units plus a buildable lot, offering immediate portfolio expansion in one of Wilmingtons most desirable rental corridors. Full financials and package details available upon request.
Presented By: Long & Foster Real Estate, Inc.
Interior Features for 1401 & 1403 N Broom Street
Bedrooms
Three Bedroom Units Count
Other Interior Features
LivingAreaSourceEstimated
BasementFull
Basement (Y/N)Yes
Central Air Y/NYes
Fireplace Y/NNo
Furnished UnitsNone
Heating FuelNatural Gas, Oil
Heating Y/NYes
Hot WaterNatural Gas
General for 1401 & 1403 N Broom Street
Acceptable FinancingCash, Conventional, Exchange, Negotiable
AccessibilityNone
Architectural StyleColonial
Cap Rate6.20
CityWILMINGTON
Construction MaterialsBrick
Cool FuelElectric
CoolingCentral A/C, Window Unit(s)
CountyNEW CASTLE
DirectionsUSE GOOGLE MAPS OR WAZE
Garage Y/NNo
HeatingHot Water
Insurance Expense2197.00
Lease TypeYearly
Legal SubdivisionWILMINGTON
Lot Size Square Feet7840.80
Lot Size UnitsSquare Feet
MLS AreaWilmington (30906)
MaintenanceExpense5100.00
ModificationTimestamp2025-09-15T18:40:11
Net Operating Income127373.00
New ConstructionNo
Number Of Units Total1
Number of Units Leased10
One Bedroom Units Count7
Operating Expense19985.00
Other StructuresAbove Grade, Below Grade
OwnerPaysTrash Collection, Water
OwnershipFee Simple
PossessionNegotiable
Price Per Sq Ft Total AG246.45
Property SubtypeOther
Property TypeMulti-Family
School DistrictRED CLAY CONSOLIDATED
SewerPublic Sewer
Single Room Units Count2
Standard StatusActive
StatusACTIVE
Structure TypeTwin/Semi-Detached
Tax Annual Amount14139.0
Tax Assessed Value152700.0
Tax Lot188
Tax Year2024
Total Actual Rent158806.00
Total SQFT8095
Two Bedroom1
UtilitiesNatural Gas Available
Vacation Rental Y/NNo
Water Access Y/NNo
Year Built1877
Year Built SourceAssessor
Zoning26R-2A
Exterior for 1401 & 1403 N Broom Street
Foundation DetailsStone
Land Assessed Value20000.00
Land Use Code
Lot Dimensions26.00 x 150.00
Lot Size Acres0.18
Lot Size SourceEstimated
LotDimensionsSourceAssessor
Navigable Water Y/NNo
PoolNo Pool
Type of ParkingOn Street
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo
Waterfront Y/NNo
Additional Details
Price History
Jonathan Lockette
Associate
Price
$1,995,000
MLS#DENC2089420
List Date
09/15/2025
Property Type
Multi-Family
Phone
(862) 210-8344