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340 W CHESTNUT HILL RD Newark, DE 19713
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Key Details
Sold Price $520,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,950 sqft
Price per Sqft $58
Subdivision None Available
MLS Listing ID 1002635012
Sold Date 11/13/15
Style Other
HOA Y/N N
Abv Grd Liv Area 8,950
Originating Board TREND
Year Built 1950
Annual Tax Amount $4,918
Tax Year 2015
Lot Size 1.010 Acres
Acres 2.01
Lot Dimensions 186X316
Property Description
This unique one-of-a-kind multi-family investment opportunity is sheltered on a 2-acre wooded property in Newark, De. Built in 1865, this beautifully renovated barn is an evolving work of art with history as its cornerstone of beauty. Designed and owned by a world-renown artist, he was also an art professor at UD for several decades. He created this multi-unit conversion, preserving many of its 19th century characteristics while renovating to include updated essentials and luxurious details. The result is stunning and mesmerizing. Its convenient location just off of University of Delaware's campus and the I-95 thoroughfare makes it a strong contender for rental. He meticulously designed and renovated this vast 9,000 sq. ft. barn converting it into many separate units. An office, gallery, photo studio and loft storage area are unfinished but have extensive potential to be renovated as extra charming units. A bonus Amish-built barn, constructed in 1982, is also on the property and was used as a studio, garage, and workshop with studio apartment above. Each of the units is unique and tastefully designed with an artistic eye, and is often described as a small secluded community of friends. The units also include ample parking. Apt. 1 is 1,372 sq. ft. with 2 floors plus a 3rd floor loft featuring 2 bed/2baths, a dramatic spiral staircase with gated doors at the top, Amish-installed hardwoods, deck and fenced-in yard. Apt. 2, 1,550 sq. ft., is one floor plus a loft offering 2 beds/1.5 baths, new carpet throughout and a quaint front and back deck. Apt. 3A is a 1 bed/1 bath basement unit just over 950 sq. ft. with multiple skylights, wood tile floors and pretty patio entrance (can connect to 3B). Apt 3 B is a ground floor studio with 1 bath and attractive hardwood floors and is 724 sq. ft. (can be connected to 3A) Apt. 4A is on the ground floor at 1,220 sq. ft. and also offers an upstairs loft totaling 1 Bed/ 1 Bath plus additional space for an office. Enjoy the brick floor downstairs and wood tile floor upstairs along with a skylight. Relish the fenced-in yard and patio. Apt. 4B measures 1,140 sq. ft. and is a ground floor unit with 2 beds/1bath and inviting brick floor. Apt. 4C is a 240-sq.ft. studio apt. with 1 bath and skylight. Nearby Newark is a thriving college town chock full of historical places, cultural destinations and an eclectic blend of businesses, shops and restaurants. Ideally located this is a true masterpiece! Min 48 hour notice to tour.
Location
State DE
County New Castle
Area Newark/Glasgow (30905)
Zoning NC21
Rooms
Other Rooms Primary Bedroom
Interior
Hot Water Electric
Heating Gas, Heat Pump - Gas BackUp, Propane, Forced Air, Baseboard
Cooling Central A/C, Wall Unit
Flooring Wood, Tile/Brick, Stone
Fireplace N
Heat Source Natural Gas, Bottled Gas/Propane
Laundry Washer In Unit, Has Laundry
Exterior
Garage Spaces 8.0
Water Access N
Accessibility None
Total Parking Spaces 8
Garage N
Building
Sewer On Site Septic
Water Public
Architectural Style Other
Additional Building Above Grade
New Construction N
Schools
School District Christina
Others
Tax ID 11-009.00-053
Ownership Fee Simple
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Bought with Roseann DiPilla • A C Emsley & Associates Realtors