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    551 Van Meter Way Wheeling, WV 26003

    Sponsored
    For Sale
    $15,600,000

    89-Unit Multifamily Investment

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 89-unit apartment portfolio presents a compelling investment opportunity in Wheeling, West Virginia. Located at 551 Van Meter Way, this property comprises five, three-story buildings constructed in 2007 and situated on a 2.4-acre lot. The portfolio boasts a diverse mix of one-, two-, and three-bedroom apartments, each with its own bathroom, contributing to high occupancy rates and minimizing vacancy risk. Currently operating at zero vacancy, this property offers a strong and consistent rental history since its completion. Ample off-street parking is available across the expansive surface lots. The property is zoned for commercial use and enjoys a prime location directly across from West Liberty University, providing convenient access to local amenities, schools, parks, and major roadways. The asking price for this turnkey investment is $15,600,000. This well-maintained property represents a stable and lucrative investment opportunity in a thriving community. The portfolio's strong performance and desirable location make it an attractive prospect for discerning investors seeking a high-yield, low-risk investment. This is a rare opportunity to acquire a substantial, established multifamily property with a proven track record of success.

    Property Features for 551 Van Meter Way

    General Information

    Property type
    Multifamily properties
    Lot Size
    104,544 SF

    Building Details

    Year Built
    2007
    Buildings
    5
    Stories
    3
    Units
    89

    HighLights

    • $15,600,000 asking price.
    • 89‑unit multifamily apartment building portfolio.
    • Five buildings, three stories each, built in 2007.
    • Located at 551 Van Meter Way, Wheeling, WV 26003, on a 2.4‑acre lot.
    • Commercial zoning.
    • Zero vacancy rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Nail Salon Auto Parts Store Food Market Grocery Store Bar & Pub Computer & Electronic Repair

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wheeling
    County
    Ohio
    State
    West Virginia
    Longitude
    -80.6011595
    Latitude
    40.1673042

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    FAQs

    What type of property is this?
    Multifamily property - 89-Unit Multifamily Investment
    Where is this multifamily property located?
    The property is located at 551 Van Meter Way Wheeling, WV.
    What is the asking price?
    The asking price for this property is $15,600,000.
    What are key features of this property?
    This property features: $15,600,000 asking price.; 89-unit multifamily apartment building portfolio.; Five buildings, three stories each, built in 2007.
    Request Owner's contact information
    551 Van Meter Way Wheeling, WV 26003
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    551 Van Meter Way Wheeling, WV 26003
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