501 WEST KING STREET Martinsburg, WV 25401
UPDATED:
12/19/2024 07:07 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,093 sqft
Price per Sqft $74
MLS Listing ID WVBE2034972
Originating Board BRIGHT
Year Built 1930
Annual Tax Amount $6,406
Tax Year 2023
Lot Size 5,720 Sqft
Acres 0.13
Lot Dimensions 55.5x104
Property Description
Discover the charm of this **French Provincial-style apartment building**, perfectly situated on a corner lot in the heart of downtown Martinsburg. This property is not just a place to live; it's a lifestyle! Located just steps away from **The Garage on King**, the area's newest and trendiest food hall, this building offers tenants an unbeatable blend of convenience and modern living.
**Property Highlights:**
- **Six Units**: Includes **4 one-bedroom** and **2 two-bedroom** apartments.
_**Over 8000 sq ft
- **Efficient Systems**: Each unit is equipped with its own electric HVAC system, and water is metered separately in the basement for easy pass-through to tenants.
- **Prime Location**: Walkable to dining, entertainment, and downtown amenities.
-**Central Vacuum
**Income Potential:**
- **Current Income**: $5,250 in gross rents + $100 from laundry.
- **Future Potential**: With renovations and market adjustments on the remaining units, **gross income could reach $7,050** (including laundry).
**Updates & Value Add:**
- Three apartments have already been turned over with market rate increases.
- One vacant unit is ready for renovation, offering even more potential for increased income.
**Low Expenses, High Potential!**
This is an incredible opportunity to own a **low-maintenance, high-return investment property** in a thriving location.
Ready to invest in your future? Don't miss out on this gem at **501 West King Street**!
Location
State WV
County Berkeley
Zoning URBAN MULTI FAMILY
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Flooring Ceramic Tile, Hardwood, Solid Hardwood, Wood
Heat Source Central, Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Lot Description Corner
Sewer Public Sewer
Water Public
New Construction N
Schools
High Schools Martinsburg
School District Berkeley County Schools
Others
Tax ID 0000506000
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Financing Cash,Contract,Conventional
Special Listing Condition Standard
