805 E East St, Delmar, MD 21875
- $1,360,000
- List Price
- $1,360,000
- Days on Market
- 2
- Status
- ACTIVE
- MLS#
- MDWC2025404
- Lot Size (Acres)
- 3
- Year Built
- 1974
- County
- Wicomico
- School District
- Wicomico County Public Schools
Property Description
Alert Investors!!!! Come research this FULLY leased, 3 floor, 12-unit apartment building with additional acreage for additional expansion. This project has a long historical track record of proved success with projected yearly gross income of $140K. Landlord pays for water and sewer, trash, exterior electricity for exterior lighting and common areas, taxes, insurance, and lawn care/parking lot. Each unit is separately metered for electricity, which is billed to the tenants directly from Delmarva Power. Each unit contains 2 bedrooms, 1.5 baths, a full kitchen, which is equipped with a stove, refrigerator, and dishwasher. Each unit has an open floorplan which kitchens that open directly to the family rooms. While cooling is provided by electric heat pumps, heating is provided by an electric furnace (forced air). Eight (8) of the twelve (12) units have had their Heating and Air components replaced with new equipment within the last two years. The equipment to replace the other 4 units has been purchased and conveys upon sale. The building has been certified as Lead-free, and the MDE certificate can be provided. Perfect project for 1031 funds!!
Additional Information
- Area
- Wicomico Northwest (23-01)
- School District
- Wicomico County Public Schools
- Flooring
- Carpet, Laminate, Vinyl
- Heating
- Forced Air, Other
- Cooling
- Central Air
- Roof
- Asbestos Shingle
- Utilities
- Cable Available, Electric Available, Sewer Available, Water Available
- Water
- Public
- Sewer
- Public Sewer, Public Septic
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Listing courtesy of ERA Martin Associates. Contact: