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201 Mohican Ln
Mount Hope, WV 25880

Cranberry Woods · Multifamily Property For Sale · 175 Units

Investment Highlights

  • True 7.00% + Cap Rate on Current NOI
  • Limited Competition with No New Construction Coming Online
  • Attractive Amenities Package with Light Value-Add Opportunities
  • Proximity to Retail & Outdoor Attractions

PROPERTY FACTS

No. Units 175
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 23.44 AC
Building Size 201,700 SF
Average Occupancy 96%
No. Stories 2
Year Built 1995
Parking Ratio 1.81/1,000 SF

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Site Amenities

  • Clubhouse
  • Playground
  • Tennis Court
  • Basketball Court
  • Pond

About 201 Mohican Ln , Mount Hope, WV 25880

Sweetwater Capital is pleased to present Cranberry Woods Apartments: a 175 unit, gardenstyle, multifamily community located in Mount Hope, West Virginia. Built in two phases (1995 and 2001), Cranberry Woods has a total of fifty-two buildings on-site. A beautifully maintained property located minutes from major interstates I-64 and I-77, Cranberry Woods is a short drive from the City of Beckley and less than 40 miles southeast from the bustling state capital of Charleston. New ownership will have the opportunity to acquire a stabilized asset that is positioned to exceed typical required rates of return and continue to attract tenants that seek high-end housing in a thriving market of West Virginia. Cranberry Woods’ ideal location off I-64 and I-77 places this asset less than 2 miles from 50+ prominent retail stores within Crossroads Mall, including Dick’s Sporting Goods, Belk, Sears, Pet Smart, and other stand-alone national retail chains. The commercial district in Beckley, 3 miles from Cranberry Woods, is a cluster of nationally recognized, big-box retailers, including Walmart, Lowe’s, Sam’s Club, Kroger, Food Lion, Big Lots, Staples and TJ Maxx.

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 8 $732.00 800
2+1 20 $886.50 900
2+2 103 $945.00 1,100
3+2 44 $1,114 1,400 - 1,500

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
11-18-00400000
Land Assessment
$571,680
Improvements Assessment
$4,704,780
Total Assessment
$5,276,460

zoning

Zoning Code R-1 (MF)
R-1 (MF)
  • Listing ID: 19399055

  • Date on Market: 5/1/2020

  • Last Updated:

  • Address: 201 Mohican Ln, Mount Hope, WV 25880

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