DE > Wilmington > Trolley Square
Wilmington, DE 19806,1400 & 1408 DELAWARE AVE
Wilmington, DE 19806,1400 & 1408 DELAWARE AVE
Wilmington, DE 19806,1400 & 1408 DELAWARE AVE
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Steven Pagan

Steven Pagan

+1(609) 631-5668
Listed by Buzz Moran • Long & Foster Real Estate, Inc.
$2,450,000
Est. payment /mo
0.25 Acres Lot
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Key Details

Property Type Multi-Family

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Subdivision Trolley Square

MLS Listing ID DENC2090070

Style Contemporary

Year Built 1900

Annual Tax Amount $14,953

Tax Year 2025

Lot Size 10,890 Sqft

Acres 0.25

Lot Dimensions 148.50 x 91.50

Property Sub-Type Detached

Source BRIGHT

Property Description

Investment Opportunity – Monument Square Apartments | Trolley Square, Wilmington, DE
Monument Square Apartments presents a rare opportunity to acquire a stabilized 8-unit multifamily asset along with a buildable lot in the heart of Wilmington's highly desirable Trolley Square neighborhood. The offering consists of two adjoining, three-story brick buildings situated on separate parcels—each apartment uniquely designed, with individually metered utilities, providing operational efficiency and tenant autonomy. Current ownership has invested in comprehensive improvements over the past five years, including both cosmetic upgrades and essential system enhancements across all units. These capital improvements have elevated the asset's marketability while significantly reducing near-term maintenance exposure. The property is cash-flow positive with strong in-place income and additional upside potential through future rent growth in a supply-constrained, high-demand submarket. The adjacent buildable lot offers capacity for 4–6 new two-bedroom units, presenting a valuable expansion or development opportunity. For scale-focused investors, the asset may be acquired in conjunction with two neighboring buildings totaling an additional 21 units, enabling immediate portfolio growth in one of Wilmington's most sought-after rental corridors. Financials, rent roll, and development schematics available upon request

Location

State DE

County New Castle

Area Wilmington (30906)

Zoning 26R-2A

Interior

Hot Water Electric

Cooling Central A/C

Fireplace N

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Foundation Stone

Sewer Public Sewer

Water Public

Architectural Style Contemporary

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Red Clay Consolidated

Others

Tax ID 26-020.20-183

Ownership Fee Simple

Special Listing Condition Standard

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Bright MLS (BMLS)
Steven Pagan

Our passion for real estate and love for New Jersey are a perfect match. We have made it our mission to help local residents sell their homes quickly and at the best possible prices, and  homebuyers in finding their perfect piece of paradise in New Jersey. 

+1(609) 631-5668

steven.pagan@thepagangroup.com

90 Tanner St, Haddonfield, NJ, 08033-2419, USA

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