1 S Washington St, Milford, DE 19963

Property Description

Prime Investment Opportunity: 1 S. Washington St., Milford Seize the chance to own a high-performing asset in the absolute heart of the City of Milford. This well-maintained apartment building combines the stability of long-term cash flow with the exciting potential for immediate value-add, making it a standout addition to any portfolio. Investment Highlights • Unbeatable Location: Situated at the center of the city, this property offers tenants unparalleled walkability and convenience, ensuring historically low vacancy rates and high demand. • Significant Capex Savings: The current owners have been proactive with upgrades, including recent window replacements in most units—a major capital expense already largely addressed for the next owner. • Operational Efficiency: Managing costs is a breeze with separately metered itilities, shifting utility responsibility to the tenants and protecting your bottom line. • Premium Amenities: Unlike many downtown properties, this building features a private parking lot and on-site laundry facilities, two of the most sought-after features for quality long-term tenants. • Immediate Upside: Currently positioned just under market rates to attract a premium tenant base, there is a built-in opportunity for the new owner to increase rents and instantly boost the Cap Rate. This is a "turn-key" operation with the heavy lifting already done. Between the recent physical improvements and the strategic pricing structure, 1 S. Washington St. is primed for a seamless transition and long-term appreciation.