3rd & Lincoln Street Apartments

Investment Overview

W 3rd & Lincoln Street presents the opportunity to acquire a well-maintained, 8-unit multifamily asset in Wilmington’s established Hilltop/Little Italy neighborhood. Constructed in 1982, the building comprises approximately 9,465 square feet on a 0.09-acre parcel and offers a mix of apartment units, on-site surface parking, and a detached garage. The building underwent an extensive renovation in 2002 under the ownership of Tim Dewson, a highly respected local builder and contractor recognized for his craftsmanship and attention to detail. The quality of his work remains evident throughout, with construction and finishes that distinguish the asset from comparable buildings of its vintage. Its highly walkable urban setting provides convenient access to Downtown Wilmington, I-95, Trolley Square, and the Riverfront, along with nearby restaurants, shopping, and public transportation. With its manageable scale, established residential location, and opportunity for upside, W 3rd & Lincoln Street offers an attractive investment for private investors and owner-operators seeking stable cash flow with potential for continued appreciation.

Investment Highlights

• 8 well-maintained units
• Fenced off-street parking/10 stalls
• 100% occupancy
• Recent capital improvements
• Value-add opportunity
• Potential for upside
• Desirable Little Italy area
• Renovated in 2002/2003 by respected builder, Tim Tewson, with emphasis on quality craftsmanship, durable construction, and attention to detail.