To be held on August 25, 2000 at
11 am at the Sussex County Courthouse, Georgetown Delaware.
AUCTION
CANCELLED
Twin Cedars Apartments
County Route 382
Roxanna
Sussex County, Delaware
AUCTION
CANCELLED
Close to the beach
2 miles from Rt. 54
just outside Fenwick Island, DE
Apartment complex on five acres, plus excess land of 59.2192
acres.
Approximately 64.2192 acres
total.
Three apartment buildings containing a total of 47 units
on some five acres at the front side, and a rear site of 59.2192 acres.
Buildings were renovated completely in 1987.
The subject site lies partially in a C-1 General Commercial
district and a GR, General Residential district. The frontage to
a depth of some 160 feet is zoned commercial. This area includes
approximately 2.6 acres. The balance of the site, approximately 61.62
acres, is zoned GR.
Permitted uses in a C-1 district consist of automobile
sales, bakeries, cleaners, a variety of related uses, hotels, apartments,
banks, office buildings, and schools. Permitted uses in GR districts
are any uses permitted in agricultural plus mobile homes and single family
residences.
Federal Tax Returns filed on behalf of this project show
gross rents of $158,645 for 1997 and $153,972 for 1998 and $166,640 for
1999. Rent rolls for the year 2000 indicate a projection of $175,000
(not guaranteed). The owner of this website assumes no responsibility for
the accuracy of the information provided. All potential buyers should
verify the information on their own.
AUCTION
CANCELLED
click above image for larger view
AUCTION
CANCELLED
click on map above for larger view
