4-Unit
For Sale
$449,000
409 Mclane Ave, Morgantown, WV 26505
Four matching residences feature two-bedroom layouts, in-unit laundry, and off-street parking in a campus-area setting.
Property Size4,608 SF
Price / SF$97.44
Days on Market17
Property Features for 409 Mclane Ave
General Information
Standard status
Active
Size
4,608 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,099
Amenities
in-unit washer and dryer
off-street parking
Building Details
Year Built
2001
Tenancy
Multi
Listing Agency:
KLM PROPERTIES, INC
Listed By:
Matt Lacy
(304) 685-1635
Source:
Exprealty
Added: Sep 20
Changed: Oct 3
Last Checked: Oct 5 at 7:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KLM PROPERTIES, INC
Investment Insights
Based on property information with market context.
Built in 2001, this 4,608-square-foot quadplex contains four residences, each with two bedrooms and two bathrooms. Every unit has its own washer and dryer, and off-street parking serves the property. Interior painting, flooring, select appliances, HVAC equipment, and laundry equipment have been updated in recent years. Two adjoining parcels are included. A City of Morgantown Code Enforcement Letter of Compliance is valid through June 2028.
The property is in Morgantown’s Sunnyside neighborhood, between WVU’s Downtown and Evansdale campuses. Downtown Morgantown, dining, shopping, entertainment, healthcare, and public transportation are also identified as nearby conveniences. All four units are leased through 2027. Residents pay their individual utilities; the owner covers garbage service.
The property is in Morgantown’s Sunnyside neighborhood, between WVU’s Downtown and Evansdale campuses. Downtown Morgantown, dining, shopping, entertainment, healthcare, and public transportation are also identified as nearby conveniences. All four units are leased through 2027. Residents pay their individual utilities; the owner covers garbage service.
Key Highlights
- Four units, each with 2 bedrooms and 2 bathrooms
- 4,608 square feet; built in 2001
- All four units leased through 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
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four matching residences feature two-bedroom layouts, in-unit laundry, and off-street parking in a campus-area setting.
Where is this quadplex located?
The property is located at 409 Mclane Ave 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 2 bedrooms and 2 bathrooms; 4,608 square feet; built in 2001; All four units leased through 2027
