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501 King St Martinsburg, WV 25401

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For Sale
$599,900

Six-unit French Provincial apartment building

Property size:
8,093 SF

Property Features for 501 King St

General Information

Property type
Residential income properties
Square Feet
8,093 SF
Lot Size
5,663 SF

Building Details

Year Built
1930

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Listing Contact
James, Jr. V Lopez
James, Jr. V Lopez

Listing Agency: ERA Liberty Realty Listing Agent: James, Jr. V Lopez

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This charming six-unit French Provincial-style apartment building, located at 501 W King Street in downtown Martinsburg, WV, presents a compelling investment opportunity. The 8,093 square foot property sits on a 0.13-acre corner lot, offering convenient access to The Garage on King food hall and other downtown amenities. The building comprises four one-bedroom and two two-bedroom apartments, each equipped with its own electric HVAC system. Water metering is conveniently located in the basement for efficient tenant billing. Currently generating $5,350 in gross monthly income ($5,250 rent + $100 laundry), the property boasts significant upside potential. Three units have recently undergone renovations and market rate increases, while one vacant unit awaits renovation to further boost income, potentially reaching $7,050 monthly. This low-maintenance property offers a high return on investment in a thriving downtown location. The prime location ensures strong tenant demand and walkability to dining, entertainment, and other downtown attractions. This is an exceptional opportunity for investors seeking a stable and appreciating asset in a desirable West Virginia market.
Location Intelligence

Current Use by Public Records

Multifamily properties

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Location Insight

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City
Martinsburg
County
Berkeley
State
West Virginia
Longitude
-77.96912
Latitude
39.45707

FAQs

What type of property is this?
Residential income property - Six-unit French Provincial apartment building
Where is this residential income property located?
The property is located at 501 King St Martinsburg, WV.
What is the asking price?
The asking price for this property is $599,900.
More about this property
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