CHARIS REALTY GROUP

Traditional

2423 N MADISON STREET

WILMINGTON, DE 19802

MLS#: DENC2112648

$375,000

Status: Active Under Contract
Listing number: DENC2112648
Listing provided by: Realty Mark Cityscape
Listing agent phone: None
Last update: 5 days ago
On site: 8 days ago
Browse Properties
Main image without alt text

Property

Beds

5

Full Baths

None

1/2 Baths

None

Year Built

1924

Sq.Footage

2,675

Rare incredible Turn-key Triplex Investment Opportunity in Historic Wilmington! Immediate Gross Annual Income is over $45K from day one! This triplex building offers two 2B1B units (both are section 8 tenants) and one 1B1B unit, each unit is spacious with 2 levels and separate entrance. All units are recently remodeled with water and scratch proof plank floors, fresh paints, updated bathrooms and kitchens. Gas and electric are separately metered and paid by the tenants, while the owner pays only for water. Property is being sold As-Is, inspections are for informational purposes only, no repairs will be made. Out of respect for the current residents, showings are limited and require advance notice. Please contact the listing agent to schedule your private tour. Limited Showing Times Only.

Features & Amenities

Interior

  • Total Bedrooms

    5

  • Bathrooms

    N/A

  • Above Grade Finished Area

    2675.0

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Central Air, Electric

  • Heating YN

    YES

  • Heating

    Natural Gas, Heat Pump

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Frame, Brick

  • Parking

    On Street

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.06

  • Lot Size(square feet)

    2,614

  • Property Type

    Residential Income

  • Property Sub Type

    Triplex

  • Architectural Style

    Traditional

Price

  • Sales Price

    $375,000

  • Tax Amount

    $3,992

  • Sq. Footage

    2,675

  • Price/SqFt

    $140

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • New Construction

    NO

  • Foundation Details

    Concrete Perimeter

  • Sewer

    Public Sewer

  • Tax Lot

    189

  • Water Source

    Public

Schedule a Showing

Showing scheduled successfully.

<
>
IN PERSON
VIA CHAT

What is 3 + 4 ?


Change time

Mortgage calculator

Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.

Your payment

Principal and Interest:

$

Property taxes:

$

HOA fees:

$

Total loan payment:

$

Total interest amount:

$

Location

County

NEW CASTLE

Elementary School

Middle School

High School

Listing Courtesy of Huajun Zhou, Realty Mark Cityscape

RealHub Information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. RealHub website owner shall not be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

Agent Margo Miller

Salesperson, Realtor

Margo Miller

Call Margo today to schedule a private showing.

(301) 524-0999

(340) 913-9339

margo@charisrealty.com


* Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request.© 2024 FMLS.
Rare incredible Turn-key Triplex Investment Opportunity in Historic Wilmington! Immediate Gross Annual Income is over $45K from day one! This triplex building offers two 2B1B units (both are section 8 tenants) and one 1B1B unit, each unit is spacious with 2 levels and separate entrance. All units are recently remodeled with water and scratch proof plank floors, fresh paints, updated bathrooms and kitchens. Gas and electric are separately metered and paid by the tenants, while the owner pays only for water. Property is being sold As-Is, inspections are for informational purposes only, no repairs will be made. Out of respect for the current residents, showings are limited and require advance notice. Please contact the listing agent to schedule your private tour. Limited Showing Times Only.

2423 N MADISON STREET

Message successfully sent.

What would you like to know?

What is 3 + 4 ?

I agree to receive email communication and understand I can unsubscribe at any time.

I agree to be contacted by Charis Realty Group - Christine Issler, Broker via call, email, and text for real estate services. To opt out, you can reply 'stop' at any time or reply 'help' for assistance. You can also click the unsubscribe link in the emails. Message and data rates may apply. Message frequency may vary. Privacy Policy

Related Properties

ALL OFFERS CONSIDERED, Motivated seller. Great Cash-flow investment opportunity. Cap rate of more than 10%. Fully rented grossing $4000/month. Your chance to own a profitable mixed-use investment property in the heart of the City of Wilmington. It's ready to go and has a strong rental history. The building offers an operating salon business in a 5 year lease at $1600/month. along with two 2-bedroom apartments each paying $1200/month. Total rents are a$4,000 per month, creating strong income for an investment property. Many major systems have been replaced in recent years, including water heaters, electrical panels, windows, and many interior finishes. The first floor salon business is highly visible entrance with signage faces 4th Street and Adam Street on this corner property. An attractive entrance leads into a comfortable waiting area for clients. Toward the back is the main salon area with room for multiple stylists to work comfortably. The lighting and layout are well suited for salon use. Further back is the wash area with two stations, spacious and well equipped. A short hall leads to an additional studio space for private styling, with chair and lighting already in place. This floor is completed by a nicely decorated half bathroom available for client use. The apartments are accessed through a side entrance on Adams Street. The common stairway leads to the second and third floor apartments, each with its own private entrance. The second-floor apartment currently has a good tenant in place who would like to stay and maintain the apartment well. Rent is $1,200 per month, and the tenant pays electric and gas. Third floor apartment is similar and has a new tenant in place, also paying 1$200/month. Upon entering the apartments, the first bedroom is on the left and offers a generous closet. Toward the front of the property is the second bedroom, also with a good closet. The apartment includes an updated bathroom, followed by the kitchen, which offers generous counter space, a compact refrigerator, and ample cabinetry. The kitchen could also function as a small eat-in space. At the front of the property is the living room, which benefits from excellent natural light from both sides due to the corner location. The third-floor apartment has a very similar layout to the second floor. The unit has just been painted, updated with new flooring, and refreshed. Estimated rent is $1,200 per month. All units are currently tenant-occupied, fully rented with great cash-flow. The basement contains separate utilities for the units, including four electrical panels (three units plus a landlord panel), three hot water heaters, and three gas furnaces, with two located in the basement and one located in a closet within the third-floor apartment. The basement also provides additional storage space. Excellent location just off Adams Street and 4th Street. The property is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and many other Center City amenities. 48 hours notice required due to tenants in place.
#DENC2097812

WILMINGTON

837 W 4TH STREET

4 Beds

None Baths

2,268 Sq.Ft.

$375,000

MLS#: DENC2097812

Come see this great investment opportunity! The building features 3 units consisting of three 2-bedroom units and 1-bathroom units. Separate gas hot water and electric services for each unit. This property is within walking distance to Downtown Wilmington, the Business District, and the Wilmington Riverfront. This property offers a great investment opportunity or the chance to owner-occupy one unit while renting out the others. The building has Three two-bedroom 1 bath units at $1,200 each. $3,600 a month total plus the garage is rented at $150 a month which is approximately $45000/yr annual rental income. The City of Wilmington Business license is current for all the rental units. The landlord does have the security deposits in Escrow. All the utilities are separate systems. The house has a central sprinkler system, hard wired smoke and carbon dioxide detectors. Don’t miss out on this opportunity!
#DENC2106736

WILMINGTON

600 W 5TH STREET

6 Beds

None Baths

2,775 Sq.Ft.

$350,000

MLS#: DENC2106736

Welcome to Trinity Vicinity in the City of Wilmington! A classical community brimming with character and charm thanks to an eclectic mix of colonial and victorian architectural style. This twin, corner building consists of three, 2 bedroom apartments with modern and functional floorplans. Main floor features two private exterior entrances, while the second and third floor units are accessed via an interior stair system with exterior fire escape to the sidewalk in case of emergency. Building was gutted out and fully rebuilt in the last 15 years +/-, meaning that the mechanical systems are all separate and functional by today's standards. Three separate HVAC systems with Central Air, three separate hot water tanks, three separate electric panels as well as one for the common area, and separate gas meters as well. Brick covered in stucco will continue to stand the test of time while needing little in the maintenance department. Brick paver sidewalk with deep granite curbs round out the exterior. Excellent location within walking distance to parks, places of worships, educational facilities, employment centers as well as the bustling nightlife on Market St. Excellent opportunity for investor to purchase and operate for cash flow while making this an integral part of an existing portfolio, or making it the cornerstone of a new one!
#DENC2094808

WILMINGTON

801 W 9TH STREET

6 Beds

None Baths

2,875 Sq.Ft.

$375,000

MLS#: DENC2094808

Prime redevelopment opportunity in a growing Wilmington corridor. This 4,701 square foot commercial building, originally constructed in 1960, offers significant upside for investors and developers seeking a value-add project. The property requires substantial renovation but presents a strong foundation for repositioning. Zoning and layout may support a residential conversion of 10+ units, with the potential for a higher unit count depending on design and approvals (buyer to verify; variance likely required). The site offers flexibility for those looking to explore ways to maximize density and overall value. Ideal for experienced investors looking to capitalize on Wilmington’s rental demand and redevelopment trends. Property is being sold strictly as-is. Bring your vision and unlock the full potential of this sizable asset.
#DENC2101236

WILMINGTON

109 STROUD STREET

None Beds

None Baths

4,701 Sq.Ft.

$450,000

MLS#: DENC2101236

Triplex for sale! Discover a prime investment opportunity in the heart of Wilmington with this charming end-of-row townhouse, built in 1890 and brimming with potential. Spanning 1,750 square feet, this property features three units and a large detached garage. making it an ideal candidate for rental income, or start your investing by living in one unit and renting out the other units. The classic brick exterior exudes timeless appeal, while the garage offers additional space for storage or potential to rent out as well. With a modest lot size of just 0.04 acres, maintenance is manageable with a cozy back yard, allowing you to focus on maximizing your returns. The property is situated in a vibrant neighborhood, ensuring strong demand from renters or future buyers. Investors will appreciate the opportunity to enhance value through strategic renovations, capitalizing on the growing real estate market in Wilmington. The absence of an HOA fee means more profit in your pocket, and on-street parking provides convenience for tenants or guests. This property is not just a house; it's a canvas for your investment vision. With the right upgrades, you can significantly increase rental rates or resale value, making it a smart addition to your portfolio. Don't miss out on this chance to secure a piece of Wilmington's real estate landscape-where history meets opportunity!
#DENC2110478

WILMINGTON

617 W 9TH STREET

3 Beds

None Baths

1,750 Sq.Ft.

$375,000

MLS#: DENC2110478

Price Adjustment, Great opportunity to own a Cape Cod in a fantastic location in the Community of Rosemont, with Two (Permitted) Rental Units, plus a Two-car Garage producing additional income as well. Well sized First floor 2 Bedroom w/1 Full Bath w/ access to a full basement with a private Laundry, current rent is for $1650.00 per month with a Long-Term Tenant. Newly renovated Second floor unit features a private entry with 2 Bedroom w/ 1 Full Bath w/ access to private laundry area, could bring in $1300-1400.00 per month. There is a Detached Two car garage with a full partition wall and electric, one unit is rented for $100.00 per month, second unit can be Rented as well. The Home is being sold in "As-Is Where-Is" Condition. Gross Rent potential is in the $3250.00 Per Month and $39,000.00 Gross yearly Income.
#DENC2105658

WILMINGTON

310 SILVERBROOK DRIVE

4 Beds

None Baths

1,425 Sq.Ft.

$399,900

MLS#: DENC2105658

Investor Opportunity - Income Producing Triplex in the Heart of Wilmington! Don't miss this rare opportunity to own a well-maintained triplex in the City of Wilmington. This income producing property is an excellent addition to any investment portfolio, with strong rental potential and a convenient central location. The first floor unit is a 1-bedroom, 1 bathroom apartment currently rented for $ 1,050/month, the second-floor unit is a 2-bedroom, 1 bathroom apartment has a new renter starting August 1 generating $ 1,100/month, and the third floor unit is a 2-bedroom, 1 bathroom apartment currently vacant but was previously rented for $ 1200/month, offering immediate upside for additional income. New roof December 2025, new boiler and updated electrical and flooring February 2025. Ideally situated just minutes from Amtrak, I-95, downtown Wilmington, shopping, restaurants and other local amenities, this property offers both convenience and strong rental appeal. Whether you're looking to expand your investment portfolio or purchase a propery with immediate cash flow and value-add potential, this triplex is an opportunity you won't want to miss. Schedule your showing today and take advantage of this competitively priced investment propery!
#DENC2105976

WILMINGTON

1220 W 4TH STREET

4 Beds

None Baths

2,275 Sq.Ft.

$339,000

MLS#: DENC2105976

Excellent investment opportunity in the heart of Wilmington! This well-maintained triplex at 902 N Madison features three spacious units, each offering 2 bedrooms and 2 full bathrooms — a highly desirable layout for today’s rental market. All units are currently occupied with long-term tenants on month-to-month leases, providing immediate rental income along with future flexibility for investors looking to maximize returns. Perfect for investors seeking to expand their portfolio, this property is ideally located just minutes from Trolley Square, Market Street, Wilmington Train Station, major highways, shopping, dining, and public transportation. Its prime location offers strong rental appeal and convenient access for commuters and city living alike. Whether you’re looking for steady cash flow, long-term appreciation, or value-add potential, this income-producing multi-family property is an opportunity you won’t want to miss!
#DENC2103428

WILMINGTON

902 N MADISON STREET

6 Beds

None Baths

4,250 Sq.Ft.

$439,900

MLS#: DENC2103428

Turnkey Duplex Investment Opportunity in Wilmington! Don't miss this excellent income-producing duplex located at 209 N. Broom Street, Wilmington, DE 19805. This well-maintained multifamily property generates $3,500 per month in rental income, making it an ideal addition to any investor's portfolio or an excellent opportunity for an owner-occupant looking to offset their mortgage. Unit 1 features 3 bedrooms and 1 full bathroom, offering a spacious and functional layout. Unit 2 boasts 4 bedrooms and 1 full bathroom, providing ample living space for larger households. Both units offer generous room sizes and strong rental appeal. Conveniently located near downtown Wilmington, major highways, public transportation, shopping, restaurants, and employment centers, this property is well-positioned for long-term rental demand. Whether you're a seasoned investor looking for solid cash flow or a buyer seeking a multifamily property with strong income potential, 209 N. Broom Street is an opportunity you won't want to miss. Set up showing with listing agent, will need 48 hours notice.
#DENC2108044

WILMINGTON

209 N BROOM STREET

3 Beds

None Baths

2,200 Sq.Ft.

$375,000

MLS#: DENC2108044

Price improvement!!! this low-maintenance investment opportunity awaits in this high-performing, three-story mixed-use building. The entire property underwent a comprehensive, top-to-bottom remodel in 2024, offering modern systems, contemporary finishes, and peace of mind regarding future capital expenditures. Fully structured for steady cash flow, the building features a high-visibility ground-floor commercial storefront and two fully occupied, updated residential units above. -The Main Floor (Commercial Space): Boasting high visibility and excellent foot traffic, this versatile retail storefront was refreshed in 2024. Complete with a desk area, high ceilings, new flooring, and a dedicated half-bath, it is an ideal turnkey space for a boutique, office, or specialty shop. -The Second Floor (Apartment 1): Remodeled in 2024 with modern flooring, updated kitchen cabinetry, stainless steel appliances, and a totally remodeled bathroom. This spacious 2-bedroom, 1-bathroom unit is currently occupied and generating $1,450/month. - The Third Floor (Apartment 2): Positioned on the top floor for maximum quiet, this second 2-bedroom, 1-bathroom unit features the same beautiful 2024 upgrades as the second floor, paired with elevated neighborhood views. It is currently occupied and generating $1,350/month. - Full, unfinished basement maintained in very good condition. All utility meters are conveniently separated by individual unit. Additionally, this expansive space is ideal for use as inventory or general storage for the ground-floor retail space.
#DENC2103046

WILMINGTON

1301 W 4TH STREET

4 Beds

None Baths

N/A

$365,000

MLS#: DENC2103046

Send a message

Message successfully sent.

Your message

What is 3 + 4 ?

Reason for contacting?

I agree to receive email communication and understand I can unsubscribe at any time.

I agree to be contacted by Charis Realty Group - Christine Issler, Broker via call, email, and text for real estate services. To opt out, you can reply 'stop' at any time or reply 'help' for assistance. You can also click the unsubscribe link in the emails. Message and data rates may apply. Message frequency may vary. Privacy Policy

Sign Out

Virtual Assistant

Would you like to take the next step with this property? We can help you schedule a showing or virtual tour, or send you more details.

Yes, I would like more information.

Thank You for Your Reply, One of Our Agents will contact you as soon as possible

No, maybe later.

Thank you, you can always contact me via email, phone number or through the contact form.

Realhub AI

Lucy - Your AI-Powered Realtor

Update Your Temporary Password

Personalize your search

Enter your email and we'll notify you immediately when new listings match what you're looking for.

or enter email address

Already have an account ? Login here

Continue your home search

I agree to receive communications and understand I can unsubscribe at any time.

I agree to be contacted by Charis Realty Group - Christine Issler, Broker via call, email, and text for real estate services. To opt out, you can reply 'stop' at any time or reply 'help' for assistance. You can also click the unsubscribe link in the emails. Message and data rates may apply. Message frequency may vary. Privacy Policy

Already have an account ? Login here

We use cookies

We use cookies primarily for analytics to enhance your experience. By accepting, you agree to our use of these cookies. You can manage your preferences or learn more about our cookies policy.

Privacy Policy Terms of Service