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Milford,DE 19963
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID DEKT2034600
Year Built 1961
Available Date 2025-01-30
Annual Tax Amount $2,365
Tax Year 2024
Lot Size 2.100 Acres
Acres 2.1
Lot Dimensions 2.10 x 0.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Discover a rare opportunity to own nine steady income streams on a sprawling 3.9-acre parcel just minutes from downtown Milford. This property includes eight (8) two-bedroom apartments and one land lease with an on-site maintenance tenant, offering turnkey stability and built-in management.
Each 550 sq. ft. apartment features 2 bedrooms, 1 bath, a kitchen/dining combo, and a cozy living room with baseboard heat. Rents range from $600–$1,000 per month, with current rates sitting well below comparable market rents — presenting immediate value-add potential for the next owner. All units are currently leased by reliable tenants with consistent rent history. Additional features also include 3 septic systems, shared well, and pump house.
Ideal for investors, 1031 exchange buyers, or portfolio builders seeking cash flow and long-term growth potential in one of Delaware's fastest-growing regions just outside Milford city limits with quick access to Rt. 1, the beaches, and Dover.
Location
State DE
County Kent
Area Milford (30805)
Zoning AC
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Flooring Vinyl,Carpet,Luxury Vinyl Plank
Heat Source Electric
Exterior
Garage Spaces 15.0
Water Access N
Roof Type Shingle
Accessibility No Stairs
Total Parking Spaces 15
Garage N
Building
Lot Description Partly Wooded,Private
Foundation Concrete Perimeter
Sewer Gravity Sept Fld
Water Community,Well-Shared
New Construction N
Schools
School District Milford
Others
Tax ID MD-00-16400-01-1100-000
Ownership Fee Simple
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard