Triplex with Shared
217 McLane Avenue, Morgantown, WV 26505
For Sale
New
$297,000
Multi-Unit/Income, Two Story, Morgantown, WV
Property Size2,265 SF
Lot Size0.17 Acres
Price / SF$131.13
Days on Market2
Property Features for 217 McLane Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Interior features
Exterior features
Appliances
Lot features
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Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
shared laundry room
shared sun porch
driveway parking
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
BEL-CROSS PROPERTIES, LLC
(304) 296-7930
Listed By:
DESTINY SYLVESTER · License #3690
(304) 685-9287
Added: Nov 6
Last Checked: Nov 7 at 4:06PM
MLS# 10167748
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.
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Investment Insights
Based on property information with market context.
This 2,265-square-foot triplex contains three apartments: one with a bedroom and two with two bedrooms each. The property includes a shared laundry room, a sun porch, and off-street driveway parking. Flooring includes laminate, vinyl, and wood. Renovations and improvements have been completed over the past three years, and the building dates to 1921. The parcel measures 0.165 acres and is zoned Neighborhood Mix Use.
All three apartments are leased, with lease terms extending to May 20, 2027, for the one-bedroom unit and July 22, 2027, for each two-bedroom unit. The property is near WVU Honors Hall and Summit Hall on campus.
All three apartments are leased, with lease terms extending to May 20, 2027, for the one-bedroom unit and July 22, 2027, for each two-bedroom unit. The property is near WVU Honors Hall and Summit Hall on campus.
Key Highlights
- Three apartments: one one‑bedroom unit and two two‑bedroom units
- All units are leased, with terms extending into 2027
- 2,265 square feet on a 0.165‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,025
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$280,500
$280.5K
Cap Rate 7%
$200,357
$200.4K
Cap Rate 9%
$155,833
$155.8K
Market Conditions
NOI Build-Up for 2,265 SF
Gross rent
$20.4K $9.00/SF
− Vacancy
−$349 −$0.15/SF
EGI
$20.0K $8.85/SF
− OpEx
−$6.0K −$2.65/SF
NOI
$14.0K $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%
$280,500
Cap Rate 7%
$200,357
Cap Rate 9%
$155,833
Alternative Uses
Best Use
Multifamily LT 5
$200.4K
$175.3K – $233.8K
NOI $14,025 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$184.5K
$161.5K – $215.3K
NOI $12,918 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$653.0K
$571.4K – $761.8K
NOI $45,708 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased apartments offer a one-bedroom and two two-bedroom layouts near WVU campus.
Where is this triplex located?
The property is located at 217 McLane Avenue Morgantown, WV.
What is the asking price?
The asking price for this property is $297,000.
What are key features of this property?
This property features: Three apartments: one one‑bedroom unit and two two‑bedroom units; All units are leased, with terms extending into 2027; 2,265 square feet on a 0.165‑acre parcel
