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120 Wilbur St
Newark, DE 19711

$17,750,000 USD

Apartments For Sale  •  61,789 SF

Property Details

  • Property Type Apartments
  • Total Building Size 61,789 SF
  • Lot Size 2.34 AC
  • Building Class C
  • Year Built 1972
  • Zoning 18RR
20 Transit Score
60 Walk Score

Highlights

Attractive Loan Assumption: Assumable loan at a fixed 3.74% interest rate through May 1, 2031
Versatile Unit Mix: (1) Studio, (47) one-bedroom, and (24) two-bedroom units cater to diverse student preferences
Rental Upside: Potential Targeted upgrades to include modern appliances, refreshed baths, updated flooring, and enhanced common areas
Long Term Strong Occupancy: The 25-26 period marks the 14th consecutive year since the owner's acquisition has achieved 100% pre-leasing
Compelling Value-Add Opportunity: A furniture pilot program is available in 10% of the units at a rate of $100 per month
Prime Location Steps from Campus: Situated one block from the University of Delaware's main campus

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Controlled Access
  • Dishwasher
  • Microwave
  • Property Manager on Site
  • Tennis Court
  • Washer/Dryer
  • Furnished Units Available
  • Walking/Biking Trails
  • Ceiling Fans
  • Eat-in Kitchen
  • Kitchen
  • Hardwood Floors
  • Vaulted Ceiling
  • Refrigerator
  • Range
  • Carpet
  • Maintenance on site
  • Public Transportation

Public Transportation

Commuter RailDriveWalkDistance
Newark (R2 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail)) 4 min - 1.7 mi
Churchmans Crossing (R2 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail)) 13 min - 5.9 mi
AirportDriveWalkDistance
Philadelphia International 49 min - 34.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 90
Type: Surface
Included in Rent: Yes
Kenneth Wellar 215-454-2879 GREA
Kenneth Wellar 215-454-2879 GREA