Seven Building Student Housing Portfolio 678 Spruce St
16 Unit Apartment Building $2,995,000 ($187,188/Unit) Morgantown, WV 26505
INVESTMENT HIGHLIGHTS
- 100% Leased
- 16 Units/40 Beds
- Walking Distance (4 minutes) to West Virginia University's Main Campus
- Off-Street Parking
EXECUTIVE SUMMARY
Black Diamond Realty is pleased to present this student housing investment portfolio consisting of seven conventional style homes converted into student housing on 0.78 (+/-) acre. The seven buildings combined include 16 apartments (40 total beds) of varying sizes. The assets are situated less than a four minute walk to West Virginia University's Mountainlair, University Avenue and ten minute walk to the Beechurst Ave PRT.
The subject property is conveniently located near many amenities within walking distance to the downtown Campus, High Street and multiple PRT systems which offer access to the Mon Health Medical Center, WVU’s Health Sciences Center campus, Ruby Memorial Hospital, WVU stadium, additional restaurants, shopping, and more.
The subject property is conveniently located near many amenities within walking distance to the downtown Campus, High Street and multiple PRT systems which offer access to the Mon Health Medical Center, WVU’s Health Sciences Center campus, Ruby Memorial Hospital, WVU stadium, additional restaurants, shopping, and more.
PROPERTY FACTS
| Price | $2,995,000 |
| Price Per Unit | $187,188 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.78 AC |
| Building Size | 15,920 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1925 |
| Parking Ratio | 1.07/1,000 SF |
UNIT AMENITIES
- Fireplace
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Deck
- Office
- Porch
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 4+1 | 1 | - | - |
| 2+1 | 2 | - | - |
| 9+3 | 1 | - | - |
| 3+1 | 3 | - | - |
| 3+2 | 1 | - | - |
| 4+2 | 1 | - | - |
1 of 1
Walk Score®
Very Walkable (85)
ZONING
| Zoning Code | Yes (R-3 Multifamily Residence) |
