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156 Clay St 8 Unit Apartment Building $1,695,000 ($211,875/Unit) 6.77% Cap Rate Morgantown, WV 26501
EXECUTIVE SUMMARY
Introducing a fully leased, well kept, historic piece of prime property sitting right on Morgantown’s Wharf District- Main floor is currently leased out to a well known catering business/venue and features a fully equipped commercial grade kitchen, restaurant seating, large bar, and covered outdoor seating area. Top floors feature one studio apartment, five 1 bedroom apartments, and two 2 bedroom apartments, all which are currently leased out. Recent improvements include 4 renovated apartment units, new roof, updated HVAC system, and 15 new double pane windows. All of this, complimented by an ADDITIONAL 4,818 sqft gravel lot for off street parking. Call list agent for restaurant rent and additional information. Accompanied showings only.
PROPERTY FACTS
| Price | $1,695,000 | Building Class | C |
| Price Per Unit | $211,875 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 12,477 SF |
| Cap Rate | 6.77% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 1.28/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B-4 | ||
| Price | $1,695,000 |
| Price Per Unit | $211,875 |
| Sale Type | Investment |
| Cap Rate | 6.77% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 12,477 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1920 |
| Parking Ratio | 1.28/1,000 SF |
| Zoning | B-4 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Kitchen
- Refrigerator
- Oven
- Range
- Views
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $950.00 | 1,040 |
| 2+1 | 2 | $1,100 | 1,040 |
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 09-28-00380000 | Improvements Assessment | $502,200 |
| Land Assessment | $59,820 | Total Assessment | $562,020 |
PROPERTY TAXES
Parcel Number
09-28-00380000
Land Assessment
$59,820
Improvements Assessment
$502,200
Total Assessment
$562,020
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Presented by
Compass Realty Group
156 Clay St
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