8 COMMONWEALTH AVENUE, Claymont, DE 19703

$1,999,999 Asking Price

16 beds

10 baths

11,500 sqft

Built in 1917

Available now! 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.

Listing Status:: Active
Date Added:: June 14, 2024 — 157 days ago
Listing Office:: Crown Homes Real Estate, Matthew Lenza (302-285-9777)
Office Phone:: 302-504-6147
MLS ID:: DENC2063148

Features & Amenities

Interior

Basement:: Combination
Flooring:: Hardwood,Luxury Vinyl Plank
A/C:: Central A/C
Heating:: Y, Other, Natural Gas
Disability Feature:: None

Exterior

General:: Above Grade,Below Grade
Style:: Contemporary,Converted Dwelling,Traditional

Construction

Roofing:: Slate
General:: Stone,Mixed, 3, Permanent

Location

Originating MLS:: BRIGHT_MAIN
School District:: BRANDYWINE
County:: NEW CASTLE

Lot

Zoning:: CN, 06-084.00-439
Current Use:: 0

Utilities

Water:: Public
Sewer:: Public Sewer

Financial

Source:: BRIGHT_MAIN

This listing courtesy of:
Crown Homes Real Estate, Matthew Lenza

About Claymont, DE

Housing

Number of Units: 7,222
Median Home Value: $216,980
Median Rent: $1,070

50.12% of housing units are renter occupied.

5.08% are vacant.

Commute

Car: 64.82%
Public Transportation: 3.97%
Walk to Work: 1.21%
Work from Home: 29.76%
Other: 0.23%

The median travel time to work is 21 minutes.

People

Population: 16,247
Median Age: 37.10
Median Household Size: 2.46

Education

High School: 32.29%
Associate’s Degree: 6.00%
Bachelor’s Degree: 19.54%
Graduate Degree: 14.73%

Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.

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8 COMMONWEALTH AVENUE, Claymont, DE 19703

$1,999,999 Asking Price