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Westover Pointe 3403 Lancaster Pike 75 Unit Apartment Building For Sale Wilmington, DE 19805

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Investment Highlights

Value-Add Potential: Opportunity to Increase Rents by 15-20% by Renovating Kitchens and Bath
Attractive Unit Mix: Offers 9 One-Bedroom (13%), 49 Two–Bedroom (69%) and 13 Three-Bedroom (18%)
Proximity to Employment Hubs: Convenient Access to Major Employment Centers, including Wilmington’s Banking and Financial District, and ChristianaCare

Strong Occupancy: Current and Historical Occupancy Rate for Apartments is 95% or Higher
Accessibility & Connectivity: Situated on Lancaster Pike (Route 48), Minutes from Route 141, Kirkwood Highway (Route 2), and Interstate 95

Executive Summary

Located along Lancaster Pike in Wilmington, Delaware, Westover Pointe consists of 71 multifamily apartments and four commercial spaces. The property benefits from proximity to the Greater Philadelphia Metropolitan Area, diverse employment drivers, and strong regional transportation connectivity. The area’s stable economic base and sustained housing demand continue to support consistent multifamily performance, positioning Westover Pointe as an attractive long-term investment opportunity.
Westover Pointe is a well-maintained garden-style community offering a desirable mix of one-, two-, and three-bedroom apartment homes averaging approximately 932 square feet, of which 87% of the units have two and three bedrooms. The property provides residents with spacious floor plans and attractive living spaces designed to meet the needs of the local workforce renter base. Current in-place rents remain approximately 15–20% below market, presenting investors with a clear opportunity to capture meaningful rental upside through natural lease turnover and strategic renovations to kitchens and baths.
Situated along Lancaster Pike (Route 48), Westover Pointe benefits from immediate access to major transportation routes, including I-95, I-295, Route 141, and Route 7, providing seamless connectivity throughout both Greater Wilmington and the Philadelphia Region. Residents enjoy convenient access to major employment centers such as Wilmington’s banking and financial district (JPMorgan Chase, Bank of America, Capital One), ChristianaCare, and AstraZeneca, as well as bustling retail corridors and everyday neighborhood amenities.
Currently operating with stabilized residential occupancy, Westover Pointe Apartments provides investors with immediate cash flow and significant value-add potential. The property offers the opportunity to increase revenue through natural lease turnover and interior upgrades to kitchens and bathrooms, capturing upside in a proven, high-demand workforce rental market. Combined with diversified income and strong regional fundamentals, Westover Pointe is positioned for long-term NOI growth and sustained performance.

Property Facts

Sale Type	Investment	Lot Size	3.46 AC
No. Units	75	Building Size	76,250 SF
Property Type	Multifamily	Average Occupancy	96%
Property Subtype	Apartment	No. Stories	3
Apartment Style	Garden	Year Built	1967
Building Class	C	Parking Ratio	0.79/1,000 SF
Zoning	NCAP

Sale Type	Investment
No. Units	75
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	3.46 AC
Building Size	76,250 SF
Average Occupancy	96%
No. Stories	3
Year Built	1967
Parking Ratio	0.79/1,000 SF
Zoning	NCAP