Are you looking for an exceptional investment opportunity? Look no further! A rare large investment property is now available in West Virginia, offering a total of 51 apartments in the sought-after Med Center Area near WVU Hospital and Mon General Hospital. This property presents a lucrative opportunity for investors seeking to diversify their portfolio and capitalize on the thriving real estate market in the region.
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Consisting of three buildings, this investment property offers a mix of residential units to cater to a variety of tenant preferences. Two of the buildings were built in 1976, while the third building is a more recent addition constructed in 2014. This blend of new and established structures ensures a diverse range of housing options and appeals to tenants seeking different styles and amenities.
Conveniently located on Alpine St and Bishop Dr, these buildings provide easy access to major hospitals, making them ideal for medical professionals or staff who work in the nearby healthcare institutions. The proximity to these renowned hospitals not only ensures a consistent demand for housing but also offers the potential for long-term tenancies from medical personnel seeking quality accommodation within close proximity to their workplace.
Parking is a crucial consideration for residents, and this investment property offers ample parking facilities to cater to their needs. With parking available on Alpine St and additional parking on Bishop Dr, tenants will have peace of mind knowing that their vehicles are safely accommodated.
As of November 8, 2022, 48 units within the property are currently leased, generating an impressive monthly rent of $35,255. This steady rental income provides a solid foundation for investors to recoup their investment and enjoy consistent cash flow. The mix of units available further enhances the property’s appeal, featuring 3-bedroom units, 2-bedroom units, 1-bedroom units with bonus rooms, and standard 1-bedroom units. This diverse range of units ensures a broad tenant base, accommodating individuals, couples, and even families.
A noteworthy aspect of this investment property is the tenants’ responsibility for all utilities. This arrangement significantly reduces the property’s operating expenses, allowing investors to maximize their return on investment. Additionally, having washer and dryer units within each apartment adds convenience for tenants and increases the property’s desirability.
West Virginia’s real estate market has been experiencing steady growth, and this investment property represents a unique opportunity to capitalize on this trend. With its prime location, well-maintained buildings, and a strong tenant occupancy rate, investors can enjoy the benefits of a stable income stream and potential appreciation in property value.
As the demand for quality housing continues to rise, investing in West Virginia’s real estate market offers a promising avenue for wealth creation. The availability of the Med Center Area investment property presents an exceptional opportunity to enter this thriving market or expand an existing investment portfolio.
Don’t miss out on this rare opportunity! Take advantage of the West Virginia Investment Property for sale and secure your financial future today. Contact the listing agent or real estate agency to learn more about this enticing investment opportunity and to arrange a viewing. Act swiftly, as properties of this caliber are in high demand and tend to sell quickly.
803,807,811 Alpine Street, Morgantown, WV 26505