8 COMMONWEALTH AVE, Claymont, DE 19703 – DENC2063150

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Joseph Lam

sales@soldbyturnkey.com +1(856) 305-8329

$1,999,999

Est. payment - /mo

11,500 SqFt

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UPDATED:

11/15/2024 12:45 PM

Key Details

Property Type Multi-Family

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 11,500 sqft

Price per Sqft $173

Subdivision Overlook Colony

MLS Listing ID DENC2063150

Style Contemporary,Converted Dwelling,Traditional

Abv Grd Liv Area 8,500

Originating Board BRIGHT

Year Built 1917

Annual Tax Amount $5,600

Tax Year 2022

Lot Size 0.280 Acres

Acres 0.28

Lot Dimensions 120.00 x 100.00

Property Description

Available now! 10 - 12 units, based on how it is broken down. Once in a lifetime opportunity to own an entire building with Commercial and Residential units. Updated financials will be added. Current owner has increased rents and made numerous improvements throughout. Perfect opportunity to buy now and utilize the increased Cash Flow (and not have to worry about getting costly repairs/upgrades completed). All payments from current tenants are being converted to online payments to make it very easy for the new owner to take over the reigns. Additional Notes Below: A building with a rich history stands proudly at the entrance to Overlook Colony. With the revitalization going on in Claymont, it has seen many changes since 1917 when constructed by General Chemical Company. Initially, the two-story building with a full basement was used as the community center for Overlook Colony and was placed at the main entrance just off of Philadelphia Pike. The Colony was planned and developed by General Chemical to house their employees in what were very nice, substantial homes at the time. Besides being called the community center it was later known as Redman's Hall; a meeting place for a fraternal group. It also housed activities of the Holy Rosary Church and stores including Shinn's and later, Steins. If you walk the halls of our building you will notice a lovely plaque that was presented to the three of us by the Claymont Fire Company. It commemorates the fact that many years ago, all of the organizational meetings of the fire company were held in our building. Also, up until 1924, when the Claymont School was built on a lot donated by General Chemical, the community center provided several rooms to take care of the educational needs of the children in the Colony. In 1989, new owners purchased the building and since then have tried to keep the glory of the building's former days while completely modernizing the structure. Because of our efforts, they were presented with a New Castle County Historic Preservation Award in 2000 and were given a grant of $2,500 from General Chemical in 2002 to help beautify the front of the building. Much thought, work, and finances have been expended over the years.

Location

State DE

County New Castle

Area Brandywine (30901)

Zoning CN

Rooms

Basement Combination

Interior

Hot Water Natural Gas

Heating Other

Cooling Central A/C

Flooring Hardwood, Luxury Vinyl Plank

Fireplace N

Heat Source Natural Gas

Exterior

Water Access N

Roof Type Slate

Accessibility None

Garage N

Building

Foundation Permanent

Sewer Public Sewer

Water Public

Architectural Style Contemporary, Converted Dwelling, Traditional

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Brandywine

Others

Tax ID 06-084.00-439

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

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Listed by Matthew Lenza • Crown Homes Real Estate

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Joseph Lam

+1(856) 305-8329

Broker Associate | License ID: 0682262

Broker Associate License ID: 0682262