409 McLane Avenue - Apartments FOR SALE


Morgantown, WV 26505- Downtown Morgantown | 
$449,000 USD
304-296-1533
409 McLane Avenue, Morgantown, WV for Sale
$449,000 USD
Apartments - FOR SALE
1/64
null | Request Cap Rate

409 McLane Avenue
Morgantown, WV 26505
Downtown Morgantown


HIGHLIGHTS

  • Prime Sunnyside Location between WVU Downtown and Evansdale Campuses
  • Newer Alternative Compared to Older, Converted Campus-area Multifamily Inventory
  • Abundant Off-Street Parking and In-unit Washer and Dryer

OVERVIEW

Four-unit investment property ideally positioned in Morgantown’s Sunnyside neighborhood, centrally located between WVU’s Downtown and Evansdale campuses. Each of the four units offers a consistent 2-bedroom, 2-bath layout with an in-unit washer and dryer, while ample off-street parking adds an important advantage in this campus-area location. All four units are currently leased into 2027, providing established income from day one. Tenants are responsible for their individual utilities, with garbage service paid by the property owner. The current owners have completed a number of improvements in recent years, including interior painting, updated flooring, select appliances, HVAC equipment, and laundry equipment. Built in 2001, the property offers a newer alternative to much of the surrounding campus-area multifamily inventory and includes two adjoining parcels. Convenient to both WVU campuses, downtown Morgantown, dining, shopping, entertainment, healthcare, and public transportation. A well-located, income-producing multifamily property with a practical unit configuration in one of Morgantown’s established rental areas. Current City of Morgantown Letter of Compliance valid through April 2028.

FOR SALE DETAILS

PRICE

$449,000 USD

PRICE/SF

$150 USD /SF

# OF UNITS

4

PRICE/UNIT

$112,250

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2001

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

Two Family & Multi-Family

APN/PARCEL ID

31-12-0019-0070-0000,31-12-0019-0071-0000

ASK ABOUT THIS PROPERTY

John WhislerKLM PropertiesMore Info
304-296-1533

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John WhislerKLM PropertiesMore Info
304-296-1533

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.