408 N JAMES ST $1,075,000



    SOLD 3/29/2019


    Market Estimate
    • 4,600 sq.ft.
    • 1.87 Acres
    • Commercial
    • MLS# DENC317346
    Favorite Share
    Views: 9 Days On Market: 292

    Property Details

    Prepare to be wowed by this amazing investment opportunity! This package features an apartment building with 8 apartments and 1 office, 28 mobile homes, and 1 commercial upholstery shop, all conveniently located on one tidy parcel of part commercial and part residential real estate in a central location in Newport. Even more impressive is the fact that there is a 100% OCCUPANCY RATE in all units! Filled with mostly long-term tenants, this is as low maintenance and high yield as any investment you will find! The apartment building has a NEW 2 inch water line, Newer siding, Newer boiler for the hot water radiator heating - inspected every 2 years , Updated electric, and Replacement windows! All apartments are efficiencies, with heat and A/C included in the rent, each ground floor unit has a private entrance, and the building is equipped with fire alarms that are routinely inspected and an emergency exit. The ground floor office can be kept as a management hub, or changed into a larger apartment unit to increase rental capacity. The 28 mobile homes are located on a paved lot with a small, fenced yard allocated to each home. All mobile homes are 1 bedroom, 1 bathroom, with 100 amp electrical service, electric hot water heaters ,new hot air electric heaters and are connected to 3 water meters with potential for each to have its own water meter. Many of the mobile homes have updated interiors and new roofs and all have new hot air electric heaters. The commercial shop is self-maintained and the current tenant is responsible for all utilities. The lot itself boasts plenty of parking, commercial vehicle parking that can be repurposed into more tenant parking or space for another mobile home, 3 storage sheds, and a common dumpster for trash. Located in walking distance to the bus stop and restaurants, and close to all major routes including 141, 95, 495, and 295, this incredible investment won~t be on the market for long!

    • General Features
      • Condo Coop Association Y/N N
      • County NEW CASTLE
      • HOA Y/N N
      • New Construction Y/N N
      • Sale Type Standard
      • Tax Annual Amount 2503.0
      • Tax Year 2018
      • Water Access Y/N N
      • Waterfront Y/N N
      • Year Built 1940
      • Zoning CN & NC5
      • Zoning Dscrp commercial and residential
    • Building Features
      • Building Name NONE AVAILABLE
      • Building Total SqFt 4600.00
      • Business Type Apartment Building
      • Cooling Fuel None
      • Cooling Type Wall Unit
      • Electric Service Circuit Breakers
      • Garage Y/N N
      • Heating Fuel Natural Gas
      • Heating Type Hot Water
      • Sewer Septic Public Sewer
    • Property Features
      • Lot Size Acres 1.87
      • Lot Size Dimensions 199.4x424.40
    • Schools
      • School District RED CLAY CONSOLIDATED


    Market Last 30 Days

    $182,250 Median Sales Price
    14 Homes Sold
    10 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- New in Database Source
        3/29/2019 3:00:00 AM Sold Source New Value: $1,075,000

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