401-403 Fourth Street

Description

Welcome to Holloway Terrace! A quaint and quiet community along the Route 9 corridor just outside the City of Wilmington proper. A mix of existing single detached and new construction structures are sprinkled throughout 11 numbered streets and three named avenues. 401-403 4th St. is a single tax parcel with a twin ranch style structure that consists of two, 2 bedroom and 1 full bathroom units. 401 has been recently renovated to include new flooring, updated kitchen, and bathroom as well as a modern paint scheme. 403 is adorned with hardwood flooring, an open living room to kitchen floor plan, and then two private bedrooms separated by a full bathroom with tile flooring and tub surround. Each unit has separate water meters, gas meters, HVAC units and hot water tanks, allowing for minimal owner and or operating expenses. Each unit has the remaining balance of a 12 month lease, which just started in March of 2023. Hot water tanks are newer and HVAC is being replaced in both units and will include AC as well! Excellent opportunity for aspiring land lord to start a cash flowing portfolio or for the experienced investor to add to an already scaled collection of properties. Rents are at market rate so nothing left to do but adjust where the tenants send their payments to!