Details

Property Description

Don’t miss this once-in-a-lifetime opportunity to own a certified historic building, thoughtfully renovated by City Systems, a locally owned and well-respected builder that was among those that led the charge in revitalizing many neighborhoods throughout the City of Wilmington. The Delaview building, officially known as Delaview Apartments by City Systems, is an 18-unit historic brick apartment community located at 709–711 N. Broom Street in Wilmington, Delaware. Nestled in the desirable Cool Spring–Tilton Park neighborhood, this exceptional property features eighteen one-bedroom apartments that beautifully combine timeless architectural character with modern conveniences. A stunning new entry courtyard welcomes residents and visitors, creating an impressive first impression and setting the tone for the property's thoughtful renovations. Each apartment features fresh paint, refinished hardwood floors, spacious sun-filled living rooms, comfortable sun-filled bedrooms, and an eat-in kitchen equipped with a refrigerator and gas range. Historic details have been carefully preserved throughout, including original built-in china closets and pantries that add distinctive charm and character. The generously sized bathrooms feature classic subway-tiled tub / shower combinations, mosaic tile flooring, and convenient linen closets. Each apartment is equipped with individually controlled heating and air conditioning, providing year-round comfort. Residents also enjoy access to a common laundry facility located on the lower level. Tenants pay their own gas and electric utilities, which are separately metered, while ownership is responsible for water and sewer service. Additional income potential is provided by eight garage parking spaces located in the lower-level garage. A long-term lease with AT and T offers stable supplemental revenue and further strengthens the property's investment profile. A recently installed roof provides added peace of mind and reduces future capital expenditure concerns. The property also presents compelling value-add opportunities, including the potential conversion of lower-level space into an additional apartment, office, or maintenance personnel housing, creating the possibility for increased income and long-term appreciation. Conveniently located near shopping, parks, restaurants, and Interstate 95, Delaview Apartments offers residents easy access to local amenities while preserving the charm and character of a historic residential community. This professionally managed asset represents a rare opportunity to acquire a well-maintained historic multifamily property with stable income, additional revenue streams, and future upside potential.