DUPLEX IN SMYRNA DE, Strong cash flow potential!

Kent County, Smyrna, DE, 19977
Sold
Listed at: May 8th, 2023
Price
$140,000
ARV
$295,000
Gross Margin
$155,000
Sq. Footage
4110
Type
Multifamily
Parking
On street
Year build
1900
Lot size
acres
Bedrooms
2
Bathrooms
1.5
Half Bathrooms
0
Summary

Rare to find duplex in Smyrna DE. Great cash flow potential!! Zoned R-3. 420 has been fully renovated with central hvac and drywall. New kitchen and bathroom. 422 needs a full rehab. The electrical was updated in recent years to include the separate meters. The property sits on a quiet street across from a church. Unit 420 is occupied by a family friend of the owner at far below market value. His rent can be increased by the new owner. It is at $650/mo. Market rents support 1.5k per unit or 3k total.


Closing with Adkins Title. Non refundable EMD. Closing to take place 5/31 or sooner.

As-is sale. ALL CASH. Buyer to pay all closing costs and recording fees. Transfer taxes split 50/50.


Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Chris Cates

No reviews

Disposition manager