Four-Unit Multifamily
For Sale
Under Contract
$449,000
409 McLane Avenue, Morgantown, WV 26505
Multi-Unit/Income, Two Story, Morgantown, WV
Property Size4,608 SF
Lot Size0.20 Acres
Price / SF$97.44
Days on Market18
Property Features for 409 McLane Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Two Family & Multi-Family
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 2, Bathroom 3, Bathroom 6, Bathroom 8, Bedroom 6, Bedroom 3, Bedroom 8, Bathroom 7, Bedroom 5, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 7, Bathroom 1, Bathroom 5, Bedroom 4
Parking features
Off Street, Assigned
Patio and Porch features
Deck
Interior features
Electric Stove Connection, Washer Connection, Electric Dryer Connection
Exterior features
Deck
Appliances
Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer
Lot features
Corner, Sloping
View
City
Elementary school
Suncrest Elementary
Middle school
Suncrest Middle
High school
Morgantown High
Elementary school district
Monongalia
Middle school district
Monongalia
High school district
Monongalia
Directions
At the intersection of Monongahela Blvd (US-19) and Patteson Drive, head southeast on US-19 S towards downtown Morgantown (1.2 miles), turn left onto 4th Street. Property will be on the left on the corner of 4th Street and McLane Avenue.
Subdivision
Monongalia/Morgantown
Standard status
Active Under Contract
Size
4,608 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
BL 22 LOT 2 PT 1 409 MCLANE AVE, BL 22 LOT 1 401 MCLANE AVE
Tax Annual Amount
7099
Legal Description
BL 22 LOT 2 PT 1 409 MCLANE AVE, BL 22 LOT 1 401 MCLANE AVE
Utilities
Heating system
Natural Gas, Heat Pump (Heating), Forced Air
Cooling system
Ceiling Fan(s), Electric, Central Air
Amenities
in-unit washer and dryer
Building Details
Year built
2001
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet - Full
Building materials
Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
KLM PROPERTIES, INC
(304) 296-1533
Listed By:
MATT LACY
(304) 685-1635
Added: Sep 19
Changed: Oct 5
Last Checked: Oct 6 at 6:06AM
MLS# 10167021
Copyright © 2026 North Central West Virginia Real Estate Information Network. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,608-square-foot multifamily property contains four units, each arranged with two bedrooms and two bathrooms. Built in 2001, the two-story building includes in-unit laundry connections, central air, natural gas heating, decks, and assigned off-street parking. Recent improvements include interior paint, flooring, select appliances, HVAC equipment, and laundry equipment. The property occupies 0.202 acres across two adjoining parcels and is zoned Two Family & Multi-Family.
Located in Morgantown’s Sunnyside neighborhood, the property sits between WVU’s Downtown and Evansdale campuses, with access to downtown, dining, shopping, entertainment, healthcare, and public transportation. All four units are leased into 2027, while tenants handle individual utilities and the owner pays for garbage service. A valid City of Morgantown Code Enforcement Letter of Compliance is in place through June 2028.
Located in Morgantown’s Sunnyside neighborhood, the property sits between WVU’s Downtown and Evansdale campuses, with access to downtown, dining, shopping, entertainment, healthcare, and public transportation. All four units are leased into 2027, while tenants handle individual utilities and the owner pays for garbage service. A valid City of Morgantown Code Enforcement Letter of Compliance is in place through June 2028.
Key Highlights
- Four units, each with a 2‑bedroom, 2‑bath layout
- 4,608 square feet on 0.202 acres across two adjoining parcels
- All four units leased into 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,534
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,680
$570.7K
Cap Rate 7%
$407,629
$407.6K
Cap Rate 9%
$317,044
$317.0K
Market Conditions
NOI Build-Up for 4,608 SF
Gross rent
$41.5K $9.00/SF
− Vacancy
−$709 −$0.15/SF
EGI
$40.8K $8.85/SF
− OpEx
−$12.2K −$2.65/SF
NOI
$28.5K $6.19/SF
Area
Monongalia County, WV
Vacancy
1.71%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,680
Cap Rate 7%
$407,629
Cap Rate 9%
$317,044
Alternative Uses
Best Use
Multifamily LT 5
$407.6K
$356.7K – $475.6K
NOI $28,534 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$375.5K
$328.5K – $438.0K
NOI $26,282 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,990 @ 7.0% cap · market cap 20.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 26505, WV
39,057
Population
19,220
Households
2
Avg Household Size
27
Median Age
55%
College-Educated
93%
High-School Grad
12.6 sq mi
ZIP Area
3,100
Density / Sq Mi
$42,275
Median Household Income
$24,042
Median Earnings
$942
Median Rent
$265,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Two-story layout with campus-area access, assigned off-street parking, and leases extending through 2027.
Where is this quadplex located?
The property is located at 409 McLane Avenue Morgantown, WV.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Four units, each with a 2‑bedroom, 2‑bath layout; 4,608 square feet on 0.202 acres across two adjoining parcels; All four units leased into 2027
