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River Commons 1607 Bigley Ave 55 Unit Apartment Building $3,999,999 ($72,727/Unit) 7.50% Cap Rate Charleston, WV 25302
Executive Summary
Exceptional multi-family investment opportunity in Charleston featuring a 55-unit garden-style apartment complex along with 7 single-family homes. This diverse portfolio offers strong in-place income with a healthy NOI. The property provides a unique blend of unit types, appealing to a wide tenant base and helping reduce vacancy risk. The garden-style apartments offer efficient layouts and consistent rental demand, while the single-family homes add flexibility and additional income streams. Well-positioned within the Charleston market, this asset presents an excellent opportunity for investors seeking stable cash flow with upside potential through rent optimization and operational
efficiencies.
efficiencies.
Property Facts
| Price | $3,999,999 | Building Class | C |
| Price Per Unit | $72,727 | Lot Size | 1.03 AC |
| Sale Type | Investment | Building Size | 24,792 SF |
| Cap Rate | 7.50% | Average Occupancy | 97% |
| No. Units | 55 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 2.22/1,000 SF |
| Apartment Style | Garden |
| Price | $3,999,999 |
| Price Per Unit | $72,727 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 55 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 24,792 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1965 |
| Parking Ratio | 2.22/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | - | 504 |
| 1+1 | 25 | - | 773 |
| 2+1 | 18 | - | 1,009 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 12-29-01830000 | Improvements Assessment | $89,580 |
| Land Assessment | $16,140 | Total Assessment | $105,720 |
Property Taxes
Parcel Number
12-29-01830000
Land Assessment
$16,140
Improvements Assessment
$89,580
Total Assessment
$105,720
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River Commons | 1607 Bigley Ave