Jefferson Park Apartments

Jefferson Park Apartments is situated at 2600-02 and 2601 N. Jefferson Street in Downtown Wilmington. Constructed in 1964, the property comprises 46 units in a quiet residential neighborhood. 

The 2.5-story buildings feature brick exteriors on wood joist framing with pitched shingle roofs. Jefferson Park features a strong unit mix of (34) one-bedroom and (12) two-bedroom units. Tenants are responsible for the electricity, heat, and hot water, while the owner provides cold water and sewer. Additional storage space is available for tenants. 

The property is well maintained. The current owner recently replaced windows and installed a newer roof on one of the three buildings. With little to no deferred maintenance and excellent floor plans, the property offers a new owner the ability to complete renovations to the kitchens and baths and kitchens and increase the rent by 20% or more. 

Jefferson Park Apartments presents an opportunity to acquire a highly occupied, well-maintained, value-add, garden-style property around the I-95 Corridor and within minutes of Downtown Wilmington.