Leased Three-Unit
692 Willey St, Morgantown, WV 26505
For Sale
$250,000
All three apartments are occupied, with off-street parking available to residents.
Property Size2,811 SF
Price / SF$88.94
Days on Market14
Property Features for 692 Willey St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Listing Agency:
BLUE SKY REALTY, LLC
Listed By:
John Lovio
(304) 276-8282
Source:
Exprealty
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 8 at 5:37PM
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 BLUE SKY REALTY, LLC
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Investment Insights
Based on property information with market context.
At 692 Willey Street, this 2,811-square-foot triplex contains three apartments: one with three bedrooms and one bathroom, and two with two bedrooms and one bathroom each. The property is fully leased and includes three off-street parking spaces.
The building is in downtown Morgantown, with access to WVU’s Downtown Campus, High Street, and the city’s dining, shopping, and nightlife destinations.
The building is in downtown Morgantown, with access to WVU’s Downtown Campus, High Street, and the city’s dining, shopping, and nightlife destinations.
Key Highlights
- Fully leased three‑apartment property
- 2,811 square feet across three units
- Unit mix: one 3‑bedroom, 1‑bathroom apartment and two 2‑bedroom, 1‑bathroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,406
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,120
$348.1K
Cap Rate 7%
$248,657
$248.7K
Cap Rate 9%
$193,400
$193.4K
Market Conditions
NOI Build-Up for 2,811 SF
Gross rent
$25.3K $9.00/SF
− Vacancy
−$433 −$0.15/SF
EGI
$24.9K $8.85/SF
− OpEx
−$7.5K −$2.65/SF
NOI
$17.4K $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%
$348,120
Cap Rate 7%
$248,657
Cap Rate 9%
$193,400
Alternative Uses
Best Use
Multifamily LT 5
$248.7K
$217.6K – $290.1K
NOI $17,406 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$229.0K
$200.4K – $267.2K
NOI $16,032 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$810.4K
$709.1K – $945.4K
NOI $56,726 @ 7.0% cap · market cap 22.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,452
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are occupied, with off-street parking available to residents.
Where is this triplex located?
The property is located at 692 Willey St Morgantown, WV.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Fully leased three‑apartment property; 2,811 square feet across three units; Unit mix: one 3‑bedroom, 1‑bathroom apartment and two 2‑bedroom, 1‑bathroom apartments
