sold > VICTORIAN APARTMENTS MILFORD DUPLEXES - 701 South DuPont Highwa
VICTORIAN APARTMENTS MILFORD DUPLEXES - 701 South DuPont Highway, Milford, Sussex Xounty, DE 19963
DuPONT HIGHWAY DUPLEX
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PROPERTY NAME
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VICTORIAN APARTMENTS MILFORD DUPLEXES
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PRICE
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$224,900 : $56,225 +/- PER UNIT
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ADDRESS
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701 SOUTH DuPONT HWY, MILFORD, SUSSEX COUNTY, DELAWARE 19963
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PROPERTY TYPE
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RESIDENTIAL MULTI – FAMILY APTS
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GROSS INCOME
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$30,800 PER YEAR * $7,695 PER UNIT
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OPERATING EXPENSES
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$8,700 PER YEAR * $2,190 PER UNIT
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NET OPERATING INCOME
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$22,100 PER YEAR * $5,525 PER UNIT
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YIELD
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10 % CAP * 7.3 GIM * 87.7 GRM
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BUILDING AREA
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3,355 +/- SQ FT BOTH BUILDINGS
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COVERAGE RATIO
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13.3 % +/-
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LAND AREA
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25,221 +/- SQ FT, 0.58 +/- ACRE
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LOT FRONTAGE
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267 +/- FEET COMBINED PARCELS
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LOT DEPTH
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235 +/- FEET
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ZONING
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R1, RESIDENTIAL, CITY OF MILFORD
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TAX MAP
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1-30-3.11-59.00 & 1-30-3.11-59.01
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DEED REFERENCE
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D3218 - 315
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SCHOOL DISTRICT
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MILFORD
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CITY TAX ASSESSMENT
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$206,900 : $51,725 +/- PER UNIT
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CITY TAX RATE
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$0.46 / $100
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CITY PROPERTY TAX
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$955 +/-
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COUNTY TAX ASSESSMENT
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$20,150 : $5,038 +/- PER UNIT
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COUNTY TAX RATE
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$4.1920 / $100
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COUNTY PROPERTY TAX
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$850 +/-
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PROPERTY DESCRIPTION : This Multi – Family Residential Investment Unit Has Two Each Two – Story Dwellings Which Have Been Converted To Apartments. Each Dwelling Has An Upper Unit And A Lower Unit. The Tenants Pay Separate Utilities. The Property Is In Two Separate Tax Parcels To Offer Further Flexibility. The Location Is Ideal At The Corner Of U S Route 113, South DuPont Hwy, And Seabury Avenue. A Future Commercial Zoning District Is Anticipated.
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ALL INFORMATION SUBMITTED SUBJECT TO ERRORS AND MODIFICATIONS. ALL INFORMATION CONTAINED HEREIN OBTAINED FROM RELIABLE SOURCES BUT NOT GUARANTEED. PROSPECTIVE PURCHASERS SHOULD VERIFY ALL INFORMATION SUBMITTED. LISTING BROKERAGE REPRESENTS SELLER.
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Phil McGinnis, CCIM, GAA, ACoM, ALC, e-PRO
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Office :
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(302) 736 - 1538
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Cell :
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(302) 270 - 0656
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Fax :
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(302) 736 - 2715
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Email:
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pjm@mcginnisrealty.com
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555 East Loockerman St. Dover, Delaware 19901 • Phone:302.736.2710 Fax: 302.736.2715
