7 Unit MultiFamily Investment Opportunity | 511 Grant Ave
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7 Unit MultiFamily Investment Opportunity 511 Grant Ave
7 Unit Apartment Building $775,000 ($110,714/Unit) 11.16% Cap Rate Morgantown, WV 26505
Investment Highlights
- Walking distance to WVU's main campus & the PRT
- Off-Street Gravel Parking Lot
- All customary public utilities are available to the site
Executive Summary
CAP RATE / 11.16% [PROFORMA CAP RATE]
Located seconds from West Virginia University’s main campus, 511 Grant Avenue is a two-story, seven-unit multifamily building grossing 9,120 (+/-) square feet on 0.138 (+/-) acre. Each unit is approximately 800 (+/-) square feet. All customary public utilities are available to the site, including public water and sewer. Take advantage of this prime location walking distance to West Virginia University’s main campus.
The property is located inside the city limits of Morgantown and is within walking distance to many amenities including the West Virginia University main campus, Beechurst Ave PRT, shopping, dining and more. The property is positioned roughly 4 miles from I-79, Exit 155, 5 miles from I-68, Exit 1, and 5 miles from I-68, Exit 7.
Located seconds from West Virginia University’s main campus, 511 Grant Avenue is a two-story, seven-unit multifamily building grossing 9,120 (+/-) square feet on 0.138 (+/-) acre. Each unit is approximately 800 (+/-) square feet. All customary public utilities are available to the site, including public water and sewer. Take advantage of this prime location walking distance to West Virginia University’s main campus.
The property is located inside the city limits of Morgantown and is within walking distance to many amenities including the West Virginia University main campus, Beechurst Ave PRT, shopping, dining and more. The property is positioned roughly 4 miles from I-79, Exit 155, 5 miles from I-68, Exit 1, and 5 miles from I-68, Exit 7.
Property Facts
| Price | $775,000 | Property Subtype | Apartment |
| Price Per Unit | $110,714 | Building Class | B |
| Sale Type | Investment | Building Size | 9,120 SF |
| Cap Rate | 11.16% | No. Stories | 2 |
| No. Units | 7 | Year Built | 2001 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $775,000 |
| Price Per Unit | $110,714 |
| Sale Type | Investment |
| Cap Rate | 11.16% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Building Size | 9,120 SF |
| No. Stories | 2 |
| Year Built | 2001 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 6 | - | 800 |
| 1+1 | 1 | - | 800 |
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PROPERTY TAXES
| Parcel Number | 12-15-02150001 | Improvements Assessment | $135,660 |
| Land Assessment | $34,920 | Total Assessment | $170,580 |
PROPERTY TAXES
Parcel Number
12-15-02150001
Land Assessment
$34,920
Improvements Assessment
$135,660
Total Assessment
$170,580
zoning
| Zoning Code | R3-RESIDENTIAL |
| R3-RESIDENTIAL |
-
Kim Licciardi, CCIM -
David Lorenze, CCIM -
Mark Nesselroad -
Black Diamond Realty
(304) 413-4350
x123
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7 Unit MultiFamily Investment Opportunity | 511 Grant Ave
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