#6124-- POCAHONTAS County, WV -$399,900.00-

819 3rd Avenue
Marlinton , WV 24954


Listing Details

6124.livewv.com Marlinton, WV- Investment property in beautiful Pocahontas County West Virginia! This income producing building sits on 3rd Ave. in downtown Marlinton offers 2 office spaces & 13 rental apartments. 399900.00

catagory Item Information
Dwelling:Styleapts./retail
Dwelling:Square Foot11760.00
Dwelling:Type WallsWood, plaster and drywall
Dwelling:Heat sourceHVAC
Dwelling:ConstructionBrick/wood frame
Dwelling:Patio and Deck3 units have terrace
Dwelling:Condition ExteriorGood
Dwelling:Condition on the insideGood
Dwelling:Type of RoofFlat roof with repair underway
Dwelling:Number of Baths16.00
Dwelling:Number of bedrooms14.00
Dwelling:Number of stories2.00
Dwelling:FoundationBrick
Dwelling:Age1902
Dwelling:Total number of rooms15.00
Dwelling:cableyes
Dwelling:Telephoneyes
Dwelling:Water Systemscity
Dwelling:Sewer Systemcity
Dwelling:Electricyes
Dwelling:Other utilitiesAll customary utilities are on site.
Property:Land in levelYes
Property:Land in HillsideNo
Property:WoodedNo
Property:Commercial TimberNo
Property:Land in RollingNo
Property:Land in PastureNo
Property:ViewsStreet
Property:Surface Water The property is located in 100-year flood zone
Property:Road SurfaceAsphalt
Property:Frontage3rd Ave.
Property:Flowers & ShrubsNone
Property:High SchoolPocahontas County High School
Property:Garage style and size2 commercial office spaces
Property:Accessible to shoppingMarlinton, Lewisburg, Petersburg
Property:Grade SchoolMarlinton Elementary
Property:Nearest CityMarlinton, WV
Property:Commercial usesyes
Property:Recreational FeaturesClose to Greenbrier River Trail, Greenbrier River, Knapps Creek
Property:Other unique FeaturesTwo of the six apartments on the first level are efficiency apartments and the remaining four are one-bedroom. One of the seven apartments on the second level is two-bedroom, two are two-bedroom and four are one bedroom. Seller says the roof will be repaired before closing. The Appraiser analyzed market rental rates being charged for similar rental units and discovered that the rates shown in the above charts revealed similar rates that were being obtained for the subject property. The predictable expenses were based upon the Lesseeテ「竄ャ邃「s paying for all utilities on a monthly basis. The lessor pays the real estate taxes, insurance, and maintenance cost for future repairs. The lessor also pays some utilities for the hallways and exterior lighting. A vacancy rate of ten percent was shown within the chart. The Appraiser relied upon Realtyrates.com in determining the capitalization rate to be used in capitalizing the net income of the property to determine the estimated market income by the income approach. The following chart reflects the income calculations as well as the expenses: YEAR ONE OPERATING INCOME Potential Gross Income $ Per Month Months/Yr Annually Wic Rental 1 $526.00 12 $ 6,312.00 Community Action 1 $339.00 12 $ 4,068.00 Efficient Apt. 2 $315.00 12 $ 7,560.00 1-Bd. Rm. Apt 5 $415.00 12 $ 24,900.00 1-Bd. Rm./Dining Apt. 3 $445.00 12 $ 16,020.00 2-Bd. Rm. Apt. 2 $525.00 12 $ 12,600.00 3-Bd. Rm. Apt. 1 $625.00 12 $ 7,500.00 Total $ 78,960.00 Vacancy Loss 10% $ 7,896.00 Collection Loss 5% $ 3,948.00 Effective Gross Income $ 67,116.00 Operating Expenses Real Estate Taxes $ 4,000.00 Insurance $ 14,500.00 Utilities $ 2,400.00 Phone/Internet $ - Website/Advertising $ - Maintenance & Repairs $ 3,500.00 Management Fees 5% $ 3,355.80 Reserves 5% $ 3,355.80 Total Operating Expenses $ 31,111.60 Expense/EGI Ratio 46% Net Operating Income $ 36,004.40 50 A rate of 7.94 percent will be shown as the capitalization rate in calculating the estimated market value. The market area has no similar sales. No data for the immediate market area was discovered which could be utilized in establishing a cap rate. Overall Capitalization Rate Cap Rate Net Operating Income Estimated Market Value 7.94% $36,004.40 $ 453,455.92 Rounded $ 454,000.00 Value Estimate by Income approach is $454,000.00.
Property:Possession given atat closing
Property:Directions (Ask, we are happy to show)From the intersection of US Route 219 and 8th Street turn onto 8th Street. Continue on 8th Street for approximately 0.3 miles to 3rd Avenue. Turn right on 3rd Avenue and continue for approximately 300 feet to subject property located on the left. Property is accessed on left directly off 3rd Avenue.
Property:Latitude DEC38.2224
Property:Longitude DEC-80.0940
Address (rural address may be approximated)address*819 3rd Avenue , Marlinton , WV 24954




INSTANT ACCESS DOCUMENTS
3293_14143...ng6124.pdf
You may request this file by clicking the the file name or thumbnail, or by contacting Red Oak Realty for this and other information
CONTACT RED OAK REALTY FOR ADDITIONAL INFORMATION/DOCUMENTS
Listing location map



Information contained herein is believed to be accurate, but not warranted. Any drawing or graphic of property is for general area information only. Please obtain proper surveys and call to inspect property. Direction are for area purpose only. They do not give you permision to enter the property or other private lands which may need to be crossed to view property


AD CONTENT LOADING...


Information contained herein is believed to be accurate, but not warranted. Any drawing or graphic of property is for general area information only. Please obtain proper surveys and call to inspect property. Directions are for area purpose only. They do not give you permision to enter the property or other privated lands which may need to be crossed to view property Infocode: LC