5-Unit Apartment
502 Preston St, Clarksburg, WV 26301
For Sale
$229,000
All five residences are occupied, with separate utilities for each unit.
Property Size3,902 SF
Price / SF$58.69
Days on Market14
Property Features for 502 Preston St
General Information
Standard status
Size
Property subtype
Occupancy
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Listing Agency:
OLD COLONY COMPANY OF GREATER KANAWHA VALLEY
Listed By:
Linda Dearing
(304) 575-8512
Source:
Exprealty
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 8 at 6:27AM
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 OLD COLONY COMPANY OF GREATER KANAWHA VALLEY
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Investment Insights
Based on property information with market context.
This 5-unit apartment property contains 3,902 square feet and is fully occupied. Separate utilities serve each residence, and tenants pay their own utility expenses. The property is being sold as is.
The building is at 502 Preston St in Clarksburg, with access to local shopping, dining, and other amenities.
The building is at 502 Preston St in Clarksburg, with access to local shopping, dining, and other amenities.
Key Highlights
- Five occupied rental units
- 3,902‑square‑foot apartment property
- Individual utility service for each unit; tenants cover their own utility costs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,296
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,920
$305.9K
Cap Rate 7%
$218,514
$218.5K
Cap Rate 9%
$169,956
$170.0K
Market Conditions
NOI Build-Up for 3,902 SF
Gross rent
$29.0K $7.44/SF
− Vacancy
−$1.2K −$0.31/SF
EGI
$27.8K $7.13/SF
− OpEx
−$12.5K −$3.21/SF
NOI
$15.3K $3.92/SF
Area
Harrison County, WV
Vacancy
4.20%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,920
Cap Rate 7%
$218,514
Cap Rate 9%
$169,956
Alternative Uses
Best Use
Apartment 5plus
$218.5K
$191.2K – $254.9K
NOI $15,296 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$772.1K
$675.6K – $900.7K
NOI $54,044 @ 7.0% cap · market cap 23.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
923
Businesses Nearby
Explore this area
Business Placement
Demographics for 26301, WV
28,586
Population
13,875
Households
2.1
Avg Household Size
42
Median Age
22%
College-Educated
86%
High-School Grad
77.1 sq mi
ZIP Area
371
Density / Sq Mi
$49,773
Median Household Income
$34,594
Median Earnings
$772
Median Rent
$123,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - All five residences are occupied, with separate utilities for each unit.
Where is this apartment building located?
The property is located at 502 Preston St Clarksburg, WV.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Five occupied rental units; 3,902‑square‑foot apartment property; Individual utility service for each unit; tenants cover their own utility costs
