28420 Delaware Avenue

28420 Delaware Avenue is located just off Oak Orchard Road in Millsboro, Delaware, within the Oak Orchard and Long Neck communities of Sussex County. The property provides convenient access to Route 24 and Route 113, connecting the area to major coastal destinations including Lewes, Rehoboth Beach, and Bethany Beach. The surrounding area consists of established residential neighborhoods, marinas, and local retail serving the nearby waterfront communities. Continued residential growth and proximity to the Delaware beaches support strong demand for rental housing in this expanding coastal market.This offering presents the opportunity to acquire a cash-flowing multifamily investment property located at 28420 Delaware Avenue in Millsboro, Delaware. The property consists of approximately 3,000 square feet and generates estimated rental income of $7,250 per month ($87,000 annually). Estimated annual operating expenses are approximately $12,985, resulting in an estimated net operating income of approximately $74,015. Income and expense figures are estimates and should be independently verified by prospective purchasers. The property represents an estimated 7.4% cap rate based on the reported income and expenses, providing investors with stable in-place cash flow. The asset benefits from its location within the growing Sussex County market, where continued residential development and population growth are supporting strong rental demand. This is a compelling opportunity for investors seeking a performing multifamily asset with strong income, low expenses, and long-term upside in one of Delaware’s fastest-growing regions.