ATTENTION INVESTORS! We are selling our 13,416 square feet, 12 unit apartment building located at 2407 Collis Avenue, Huntington, West Virginia for $700,000. This 3 story apartment building includes: two large bedrooms, one bath apartments with a sizable living room and fully appliance stocked kitchen with refrigerator, stove, dishwasher, and garbage disposal. Approximately half of the units have washer and dryer hookups. Tenants pay for all utilities except for garbage. Plenty of off street parking. Property sits one block from the Marshall Football Stadium and University. We installed a new roof in 2020. Fully functional central heat and air. There is a significant value add opportunity as we have failed to get this property back on student rental schedule. We do not do any pre-leasing. We just advertise vacancies as they come open. If these units were rented on a per bedroom basis or renovated, rents could be significantly increased to $800 per unit. Current rent roll is $7,675 per month. Total income in 2022 was just over $81,000. Property taxes were $5,397 and property insurance totaled $3,986.88 for the year. We are selling to do a 1031 exchange into a property that fits better with our current portfolio in Charleston, WV. Please contact 304-521-3336
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