28420 Delaware Av,MILLSBORO, DE 19966
MILLSBORO, DE 19966
Description
This offering presents the opportunity to acquire a cash-flowing multifamily investment property located at 28420 Delaware Avenue in Millsboro, Delaware. The property consists of approximately 3,000 square feet and generates estimated rental income of $7,250 per month ($87,000 annually). Estimated annual operating expenses are approximately $12,985, resulting in an estimated net operating income of approximately $74,015. Income and expense figures are estimates and should be independently verified by prospective purchasers. The property represents an estimated 8.0% cap rate based on the reported income and expenses, providing investors with stable in-place cash flow. The asset benefits from its location within the growing Sussex County market, where continued residential development and population growth are supporting strong rental demand. This is a compelling opportunity for investors seeking a performing multifamily asset with strong income, low expenses, and long-term upside in one of Delaware's fastest-growing regions.
Details
| MLS # | DESU2112076 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 2015 |
| Days On Site | 151 |
| Listing Provided By | SVN/Miller Commercial Real Estate | Wesley Cox |
Features
| Zoning | GR |
|---|
Interior
| Cooling | Other |
|---|---|
| Heating Yes / No | Yes |
| Heating | Other |
Exterior
| Construction Materials | Other |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 930 |
|---|
Area Information
| State | DE |
|---|---|
| County | SUSSEX DE |
| City | MILLSBORO |
| Zip Code | 19966 |
| Area | Indian River Hundred (31008) |
| School District | INDIAN RIVER |
| Listing VS Median (in 19966) | |
Price: $925,000 low | high Med: $375,000 On site: 151 low | high Med: 55 | |
Market Activity 19966
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Learn More About This Property
| State | DE |
|---|---|
| County | SUSSEX DE |
| City | MILLSBORO |
| Zip Code | 19966 |
| Area | Indian River Hundred (31008) |
| School District | INDIAN RIVER |
| Listing VS Median (in 19966) | |
Price: $925,000 low | high Med: $375,000 On site: 151 low | high Med: 55 | |
