1400 & 140 Delaware Avenue, Wilmington, DE 19806-3089 $2,450,000

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# of Units: 1
Acreage: 0.25
Age:125 years
Taxes: $14,953
MLS#: DENC2090070
Subdivision: Trolley Square
Design/Type:
Detached

Description

Investment Opportunity – Monument Square Apartments | Trolley Square, Wilmington, DE Monument Square Apartments presents a rare opportunity to acquire a stabilized 8-unit multifamily asset along with a buildable lot in the heart of Wilmington’s highly desirable Trolley Square neighborhood. The offering consists of two adjoining, three-story brick buildings situated on separate parcels—each apartment uniquely designed, with individually metered utilities, providing operational efficiency and tenant autonomy. Current ownership has invested in comprehensive improvements over the past five years, including both cosmetic upgrades and essential system enhancements across all units. These capital improvements have elevated the asset’s marketability while significantly reducing near-term maintenance exposure. The property is cash-flow positive with strong in-place income and additional upside potential through future rent growth in a supply-constrained, high-demand submarket. The adjacent buildable lot offers capacity for 4–6 new two-bedroom units, presenting a valuable expansion or development opportunity. For scale-focused investors, the asset may be acquired in conjunction with two neighboring buildings totaling an additional 21 units, enabling immediate portfolio growth in one of Wilmington’s most sought-after rental corridors. Financials, rent roll, and development schematics available upon request

Taxes: $14,953
Home Assoc: No
Condo Assoc: No
Garage: N
Basement:
Pool: No Pool
School Dist: Red Clay Consolidated

Features

Utilities
90% Forced Air, Baseboard - Hot Water Heating, Natural Gas, Central A/C, Natural Gas, Hot Water - Electric, Public Water, Public Sewer

Garage/Parking
Parking Lot

Exterior
Stone Foundation, Brick Exterior, Masonry

Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address. Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.

Public Elementary (29 schools)

School District Grades Place Distance
Lewis (William C.) Dual Language Elementary School Red Clay Consolidated School District K–5 Wilmington 0.43 mi
Johnson (Joseph E. Junior) Elementary School Red Clay Consolidated School District K–5 Wilmington 0.54 mi
First State School Red Clay Consolidated School District 1–10 Wilmington 0.61 mi
Warner Elementary School Red Clay Consolidated School District 3–5 Wilmington 0.64 mi
Shortlidge (Evan G.) Academy Red Clay Consolidated School District K–2 Wilmington 0.83 mi
The Bayard School Christina School District 1–8 Wilmington 1.03 mi
Kuumba Academy Charter School Kuumba Academy Charter School K–8 Wilmington 1.04 mi
First State Montessori Academy First State Montessori Academy K–8 Wilmington 1.07 mi
Stubbs Early Education Center Christina School District Preschool–K Wilmington 1.31 mi
The Bancroft School Christina School District 1–9 Wilmington 1.33 mi
Edison (Thomas A.) Charter School Edison (Thomas A.) Charter School K–8 Wilmington 1.54 mi
Douglass School Christina School District 1–12 Wilmington 1.61 mi
Harlan (David W. ) Elementary School Brandywine School District Preschool–5 Wilmington 1.69 mi
East Side Charter School East Side Charter School K–8 Wilmington 2.01 mi
Odyssey Charter School Odyssey Charter School K–12 Wilmington 2.08 mi
Baltz (Austin D.) Elementary School Red Clay Consolidated School District K–5 Wilmington 2.25 mi
Lombardy Elementary School Brandywine School District K–5 Wilmington 2.41 mi
Richardson Park Elementary School Red Clay Consolidated School District K–5 Wilmington 2.76 mi
Mount Pleasant Elementary School Brandywine School District K–5 Wilmington 3.55 mi
Marbrook Elementary School Red Clay Consolidated School District K–5 Wilmington 3.57 mi
Richey Elementary School Red Clay Consolidated School District K–5 Wilmington 3.64 mi
Carrcroft Elementary School Brandywine School District K–5 Wilmington 3.82 mi
Mote (Anna P.) Elementary School Red Clay Consolidated School District K–5 Wilmington 4.38 mi
Eisenberg (Harry O.) Elementary School Colonial School District K–5 New Castle 4.52 mi
Forwood Elementary School Brandywine School District K–5 Wilmington 4.58 mi
The Colwyck Center Colonial School District Preschool New Castle 4.72 mi
Leach (John G.) School Colonial School District Preschool–12 New Castle 4.75 mi
Hanby Elementary School Brandywine School District K–5 Wilmington 4.85 mi
Bush (Charles W.) Pre-School Brandywine School District Preschool Wilmington 4.85 mi

Public Middle (10 schools)

School District Grades Place Distance
First State School Red Clay Consolidated School District 1–10 Wilmington 0.61 mi
The Bancroft School Christina School District 1–9 Wilmington 1.33 mi
duPont (Alexis I.) Middle School Red Clay Consolidated School District 6–8 Greenville 1.5 mi
duPont (Pierre S.) Middle School Brandywine School District 6–8 Wilmington 1.57 mi
Douglass School Christina School District 1–12 Wilmington 1.61 mi
Odyssey Charter School Odyssey Charter School K–12 Wilmington 2.08 mi
Gateway Charter School Gateway Charter School 3–8 Wilmington 3.52 mi
Springer Middle School Brandywine School District 6–8 Wilmington 3.62 mi
McCullough (Calvin R. ) Middle School Colonial School District 6–8 New Castle 3.97 mi
Leach (John G.) School Colonial School District Preschool–12 New Castle 4.75 mi

Public High (16 schools)

School District Grades Place Distance
First State School Red Clay Consolidated School District 1–10 Wilmington 0.61 mi
Freire Charter School Freire Charter School Wilmington 8–12 Wilmington 0.81 mi
Great Oaks Charter School Great Oaks Charter School 8–12 Wilmington 1.04 mi
Howard High School of Technology New Castle County Vocational-Technical School District 9–12 Wilmington 1.22 mi
The Bancroft School Christina School District 1–9 Wilmington 1.33 mi
Calloway (Cab) School of the Arts Red Clay Consolidated School District 6–12 Wilmington 1.46 mi
Charter School of Wilmington Charter School of Wilmington 9–12 Wilmington 1.46 mi
Douglass School Christina School District 1–12 Wilmington 1.61 mi
Odyssey Charter School Odyssey Charter School K–12 Wilmington 2.08 mi
duPont (Alexis I.) High School Red Clay Consolidated School District 9–12 Wilmington 2.66 mi
Delaware Military Academy Delaware Military Academy 9–12 Wilmington 2.69 mi
Conrad Schools of Science Red Clay Consolidated School District 6–12 Wilmington 3.15 mi
Mount Pleasant High School Brandywine School District 9–12 Wilmington 3.16 mi
Brandywine High School Brandywine School District 9–12 Wilmington 3.71 mi
Delcastle Technical High School New Castle County Vocational-Technical School District 9–12 Wilmington 4.1 mi
Leach (John G.) School Colonial School District Preschool–12 New Castle 4.75 mi

Private (31 schools)

School Grades Place Distance
Ursuline Academy Lower Roman Catholic K–5 Wilmington 0.23 mi
Padua Academy Roman Catholic 9–12 Wilmington 0.33 mi
St Anthony Of Padua Grade School Roman Catholic Preschool–8 Wilmington 0.41 mi
St Ann School Roman Catholic Preschool–8 Wilmington 0.53 mi
Augustine Hills School Nonsectarian 4–11 Wilmington 0.67 mi
Serviam Girls Academy Roman Catholic 5–8 Wilmington 0.77 mi
Salesianum School Roman Catholic 9–12 Wilmington 0.8 mi
Sharon Temple Adventist School Seventh-Day Adventist K–8 Wilmington 0.87 mi
Urban Promise Academy Nonsectarian 7–11 Wilmington 0.9 mi
St Peter Cathedral School Roman Catholic Preschool–8 Wilmington 0.94 mi
Nativity Preparatory School Of Wilmington Roman Catholic 5–8 Wilmington 1.01 mi
High Road School Of Delaware Nonsectarian 3–12 Wilmington 1.04 mi
Wilmington Friends School Friends Preschool–12 Wilmington 1.06 mi
Tower Hill School Nonsectarian Preschool–12 Wilmington 1.12 mi
St Michaels School & Nursery Inc Nonsectarian Preschool–K Wilmington 1.2 mi
Darul Amaanah Academy Islamic K–8 Wilmington 1.28 mi
St Elizabeth School Roman Catholic Preschool–12 Wilmington 1.4 mi
Astra Zeneca Child Development Center Nonsectarian Preschool–K Wilmington 1.62 mi
Urban Promise School Other Preschool–6 Wilmington 1.63 mi
Maranatha Christian Academy Brethren K–6 Wilmington 2.01 mi
All Saints Catholic School Roman Catholic Preschool–8 Wilmington 2.24 mi
Program For Rigor And Innovation In Education Nonsectarian 6–8 Wilmington 2.28 mi
Montessori Learning Centre Nonsectarian Preschool–K Wilmington 2.7 mi
Concord Preschool And Childcare Presbyterian Preschool–K Wilmington 2.74 mi
St Mary Magdalen School Roman Catholic Preschool–8 Wilmington 2.75 mi
Immaculate Heart Of Mary Roman Catholic Preschool–8 Wilmington 2.86 mi
The Tatnall School Nonsectarian Preschool–12 Wilmington 3.06 mi
Faith Preschool & Child Care Presbyterian Preschool–K Wilmington 3.38 mi
Brandywine Valley Christian Presch Baptist Preschool–K Wilmington 3.54 mi
Albert Einstein Academy Jewish K–5 Wilmington 3.85 mi
The Pilot School Nonsectarian Ungraded Wilmington 4.39 mi

© 2025 LiveBy. All Rights Reserved.

This report is a detailed community overview for Wilmington (19806), Delaware.

Community Quick Facts

  • Average travel time to work for people in this community: 22
  • Average salary of people in this community: $78,934

Community Summary

  • Population Density (ppl / mile): 5,068
  • Household Size (ppl): 1.83
  • Households w/ Children: 23%

Housing Inventory

  • Owned: 2,714 (46.8%)
  • Rented: 2,478 (42.7%)
  • Vacant: 606 (10.5%)
  • Total: 5,798

Population Demographics

The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.

Total: 9,887
Households: 5,192
Median Age: 41.10

Climate and Weather

The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.

Temperature

Education

Highest Level of Education Attained

  • Less than 9th Grade: 1.3%
  • Some High School: 2.4%
  • High School Graduate: 11.8%
  • Some College: 14.7%
  • Associate Degree: 4.8%
  • Bachelor's Degree: 36.8%
  • Graduate Degree: 28.2%

Income by dollar range

Median Income: $77,591

Fair Market Rents

The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).

  • Studio: $673
  • One Bedroom: $1,031
  • Two Bedroom: $1,394
  • Three Bedroom: $1,762
  • Four Bedroom: $1,635

© 2025 LiveBy. All Rights Reserved.

Contact Information

Schedule an Appointment to See this Home
Request more information
or call me now at 302-285-0977

Listing Courtesy of: Long & Foster Real Estate, Inc. , (302) 351-5000, rtc@lnf.com

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 9/25/2025.

1400 & 140 Delaware Avenue, Wilmington, DE 19806-3089

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Broker Compensation

An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.