1716 Chestnut Street Wilmington, DE
$ 370,000
Property Attributes
  • MLS#DENC511776
  • TypeContingent
  • CountyNEW CASTLE
  • CityWilmington
  • AreaWilmington
  • NeighborhoodWILM #25
  • Zip19805
  • StyleColonial
  • Year Built1940
  • Taxes5017
  • Price$ 370,000
  • Bedrooms6
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size4,356 SqFt
Listing Provided Courtesy Of:
Alliance Realty
Data Source:
Bright MLS
Property Description

Excellent opportunity to purchase this fully occupied and performing four unit, all stone building located in the quaint and quiet Bayard Square neighborhood in the City of Wilmington. Two units accessed on the main level from separate entrances, and two units accessed through a shared, side entrance with separate front doors at the top of the steps on the second floor. First unit is a large one bedroom which has been nicely renovated. Second main floor unit is a one bedroom which has some updates and features a nice tiled bathroom. Third unit on the upper floor is extra large with three bedrooms, hardwood flooring and a tile bathroom. Fourth unit on the upper floor is a one bedroom with a cozy tiled bathroom. Large basement accessed from the rear of building with it's own dedicated exterior entrance is home to storage, washer/dryer, all four electrical panels, gas fired hot water heater and gas fired boiler for the radiant heat the building utilizes. Fenced in rear, grassy yard perfect for social distanced gatherings and other out door activities. Off street parking exists for one car on a concrete pad out front. The building is fully occupied with fresh tenants that are all on 12 month leases with plenty of time left before expiration. Landlord pays for heat, hot water, and water as well as exterior maintenance. This property has on recored with the City of Wilmington a Legal, Non-Conforming Use Variance to allow its operation as a four unit building as it is currently structured. This has been recently acquired by the owner and all supporting documents will be made available as such and transferable to the new owner. This variance was acquired first, then renovations were performed to the building, and then it was filled with tenants. Rare offering for a multi-family property with all proper documentation and fully performing. Add this to your existing portfolio, 1031 Exchange into this offering or simply start your investment career with the purchase of this property!

Price History
10/27/2020 Listed $400,000
11/30/2020 3% - $390,000
1/4/2021 3% - $380,000
2/15/2021 3% - $370,000

General Features

Acceptable Financing Cash, Conventional
Accessibility None
Architectural Style Colonial
Construction Materials Stone
Cool Fuel None
Cooling None
Days on Market 166
Electric 200+ Amp Service
Exclusions Tenant Personal Property
Exterior Features Sidewalks, Street Lights
Flooring Carpet, Hardwood, Laminated, Vinyl
Garage Y/N No
Heating Hot Water
High School District CHRISTINA
Historic Y/N No
Legal Subdivision WILMINGTON
MLS Area Wilmington (30906)
New Construction No
One Bedroom Units Count 3
Other Structures Above Grade, Below Grade
Other Units Unit 1, Unit 2, Unit 4, Unit 3
Ownership Fee Simple
Parking Features Concrete Driveway
Possession Immediate
Price Per Sq Ft 122.31
Property SubType Quadruplex
Property Type Multi-Family
PropertyCondition Good
Rent Control Y/N No
Roof Pitched, Shingle
Sewer Public Sewer
Structure Type Detached
Subdivision Name WILM #25
Tax Annual Amount 5017.0
Tax Lot 228
Tax Year 2020
Total Units 4
Vacation Rental Y/N No
Water Access Y/N No
Zoning 26R-2

Interior Features

Basement Full
Basement Y/N Yes
Central Air Y/N No
Fireplace Y/N No
Heating Fuel Natural Gas
Heating Y/N Yes
Hot Water Natural Gas
Living Area 3025
Three Bedroom Units Count 1

Exterior Features

Foundation Details Block, Brick/Mortar, Stone
Inclusions As Shown
Lot Dimensions 42.00 x 100.00
Lot Size Acres 0.10
Lot Size Source Assessor
Lot Size Square Feet 4356.00
Navigable Water Y/N No
Pool Y/N No Pool
Spa No
Total Parking Spaces 1
Type of Parking Driveway, Off Street, On Street
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 19805

AVG $190K
AVG $2,007
AVG 61
Year Built
AVG 1932
AVG 73
Data Provided by Walkscore ® not using MLS data

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