Leased Duplex with Two
For Sale
$395,000
512 Beverly Ave, Morgantown, WV 26505
Two leased apartments provide rental continuity near downtown WVU campus.
Property Size3,054 SF
Price / SF$129.34
Days on Market111
Property Features for 512 Beverly Ave
General Information
Standard status
Active
Size
3,054 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,051
Listing Agency:
J.S. WALKER ASSOCIATES
Listed By:
Laura Tighe
(304) 216-5272
Source:
Exprealty
Added: Jun 29
Changed: Oct 16
Last Checked: Oct 16 at 12:42PM
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 J.S. WALKER ASSOCIATES
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Investment Insights
Based on property information with market context.
This 3,054-square-foot duplex contains two residential units, configured as an upper unit and a lower apartment. Both units are currently leased through May 15, 2027, giving the property an established rental arrangement at closing.
The property is located at 512 Beverly Ave in Morgantown’s Sunnyside area, near the downtown WVU campus. Parking includes off-street spaces along with blue-curb parking nearby. A current letter of compliance is dated Nov. 16, 2027.
The property is located at 512 Beverly Ave in Morgantown’s Sunnyside area, near the downtown WVU campus. Parking includes off-street spaces along with blue-curb parking nearby. A current letter of compliance is dated Nov. 16, 2027.
Key Highlights
- 3,054‑square‑foot duplex with 2 residential units
- Both units leased through May 15, 2027
- Upper unit and lower apartment configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,911
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,220
$378.2K
Cap Rate 7%
$270,157
$270.2K
Cap Rate 9%
$210,122
$210.1K
Market Conditions
NOI Build-Up for 3,054 SF
Gross rent
$27.5K $9.00/SF
− Vacancy
−$470 −$0.15/SF
EGI
$27.0K $8.85/SF
− OpEx
−$8.1K −$2.65/SF
NOI
$18.9K $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%
$378,220
Cap Rate 7%
$270,157
Cap Rate 9%
$210,122
Alternative Uses
Best Use
Multifamily LT 5
$270.2K
$236.4K – $315.2K
NOI $18,911 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$248.8K
$217.7K – $290.3K
NOI $17,418 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$880.4K
$770.4K – $1.03M
NOI $61,630 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
663
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
Frequently Asked Questions
What type of property is this?
Duplex - Two leased apartments provide rental continuity near downtown WVU campus.
Where is this duplex located?
The property is located at 512 Beverly Ave Morgantown, WV.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,054‑square‑foot duplex with 2 residential units; Both units leased through May 15, 2027; Upper unit and lower apartment configuration
