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Gilmore Street INVESTMENT OPPORTUNITY FOR SALE MARKETING FLYER GILMORE STREET STUDENT HOUSING PORTFOLIO MORGANTOWN, WV 26505 HEALTH SCIENCES CAMPUS WVU MEDICINE WEST VIRGINIA UNIVERSITY EVANSDALE CAMPUS MILAN PUSKAR STADIUM WVU FOOTBALL FIELD GILMORE STREET PORTFOLIO YOUR NEXT INVESTMENT WEST VIRGINIA UNIVERSITY MAIN CAMPUS DOWNTOWN MORGANTOWN HIGH STREET GILMORE STREET STUDENT HOUSING PORTFOLIO MORGANTOWN, WV 26505 INVESTMENT OVERVIEW Introduction of the portfolio including specifications of the buildings, utilities, 02 parking, legal description, zoning and parcel map/site plan. BUILDING SPECIFICATIONS / FLOOR PLANS 06 Specifications, floor plans, photos and descriptions of each individual building within the portfolio. LOCATION OVERVIEW Detailed description/aerial photo of the properties and their proximity to 24 surrounding businesses and locations. DEMAND DRIVERS 26 West Virginia University and the surrounding location. AERIAL PHOTOS 28 Aerial photos of the property from different heights and angles. Financial information is available upon request and receipt of a signed Confidentiality & Disclosure Agreement. To obtain this agreement, contact Black Diamond Realty. INVESTMENT OVERVIEW GILMORE STREET STUDENT HOUSING PORTFOLIO MORGANTOWN, WV 26505 • Five Detached Apartment Unit Buildings (349, 353, 357, 361 and 365 Gilmore Street) • Four Detached Single Residential Houses (377, 387, 391 and 397 Gilmore Street) SALE PRICE / $1,475,000 TOTAL NUMBER OF ASSETS / 9 GROSS BUILDING SIZE / 27,646 SQ FT LOT SIZE / 2.51 ACRES Black Diamond Realty is pleased to present the Gilmore Street Student Housing Portfolio in Morgantown within walking distance to West Virginia University’s Downtown, Evansdale and Health Sciences Campuses. The subject properties are located along Gilmore Street, within close proximity to all supporting goods and services along with convenient access to the fast growing Evansdale and Health Sciences Campus areas of WVU. The immediate neighborhood is one of the fastest growing areas in Monongalia County due primarily to the expansion and location of the campuses and a growing/ expanding medical community and associated affiliates. 02 GILMORE STREET • STUDENT HOUSING PORTFOLIO • MORGANTOWN, WV HEALTH SCIENCES CAMPUS SUNCREST MILAN PUSKAR STADIUM EVANSDALE CAMPUS GILMORE STREET PORTFOLIO WVU COLLEGE OF LAW WVU MAIN CAMPUS WESTOVER DOWNTOWN MORGANTOWN Morgantown, WV - WVU Main Campus, Downtown, Evansdale Campus, Health Sciences Campus, College of Law, Milan Puskar Stadium, Suncrest and Westover. BLACK DIAMOND REALTY 03 LOCATION The subject property is located within the city limits of Morgantown offering RESIDENTIAL HOUSES convenient access to the fast growing Evansdale and Health Sciences Campuses The four (4) residential houses offer a combination of levels/apartments that of West Virginia University. The property is within walking distance of West have been described in the chart on Page 3. Total combined gross living area of Virginia University’s Downtown Campuses well as the downtown business area the four (4) structures would approximate 5,148 square feet with 12 bedrooms. of Morgantown. The site is situated 3.4 miles to I-79, Exit 155 and 4.9 miles to Construction is wood frame and masonry block with lower levels of the I-68, Exit 7. structures being partially below ground elevation in conformity with the site terrain although accessible from ground elevation. Exteriors are a combination SITE DESCRIPTION of vinyl siding, stucco, wood siding and painted block. Interior finishes vary The property is comprised of five (5) multi-level apartment buildings and from structure to structure. four (4) detached multi-level residential houses. The apartment buildings are situated on a single irregular shaped tract of land being 1.39 acres UTILITIES (Parcel 59). The residential houses are situated on four irregular shaped All public utilities are available to the site. Electric is provided by Mon Power. tracts of land totaling 1.12 acres (Parcels 60, 61, 62 and 64). The property Natural gas is provided by Dominion Energy West Virginia. Water and sewer are in total consists of 2.51 acres. All structures are accessible from Gilmore provided by the Morgantown Utility Board (MUB). Internet, cable and trash are Street. See the parcel map/site plan and list of buildings on Page 5. available via multiple providers. Tenants pay all utilities with some exceptions when utilities are not separated. Buildings #349, #353 and #361 do not offer BUILDING SPECIFICATIONS separated water between apartments B and C. Buildings #349, #353, #357, APARTMENT BUILDINGS #361 and #365 do not offer natural gas. Buildings #377, #387/389, #391 The five (5) apartment buildings were developed in the 1970’s and have been and #397 do offer natural gas. Building #387 does not offer separated remodeled/reconfigured/updated over the years by current ownership. All water or gas. The dumpster for all apartment buildings is paid by the owner. units have central AC and heat pump systems and new French doors have been added to every apartment. The apartment buildings are a combination of two INGRESS / EGRESS / PARKING level/two apartments and three level/three apartments. There are a total of 13 All structures can be accessed via Gilmore street by turning south off apartments and 26 total bedrooms. Each apartment is 2 Bedroom/1 Bathroom University Avenue. The property offers approximately 30-35 off-street parking with 972 (+/-) square feet of gross living area. spaces that are divided amongst all buildings. Additional access is available. Construction is wood frame and masonry block. The lower levels of the structures are partially below ground elevation, in conformity with the site LEGAL DESCRIPTION / ZONING terrain, although accessible from ground elevation. Wood decking stairs/ Located within city limits, this property is situated within the Morgantown walkways offer access to upper and middle floors. All exteriors are a combination 4th Ward District of Monongalia County. The site consists of five irregular of vinyl siding, stucco and painted block. Windows have been upgraded with and rectangular shaped parcels totaling 2.51 acres. The property is identified aluminium frame double hung and sliders. Interior finishes include a combination as 4th Ward, Map 15, Parcels 59 (1.59 acres), 60 (0.29 acres), 61 (0.15 acres), of drywall ceilings, wood grade panelling and drywall interior walls, carpet and 62 (0.47 acres) and 64 (0.21 acres). vinyl flooring, and cathedral ceilings on the upper floor units. Each unit has a According to information supplied by city officials, the site would appear to washer and dryer, full set of appliances, including disposal, with some of the be located in an area zoned R-3, Article 1339, being Multi-Family Residential remodeled kitchens containing dishwashers. New kitchens were completed in District, with a permitted maximum height of four (4) stories of fifty-five (55) some of the units five years ago, new sewer lines were added four years ago, feet plus a maximum lot coverage of 60%. many of the bathrooms were updates two years ago, and each unit contains a side patio or wood deck that measures 8’ x 12’. 04 GILMORE STREET • STUDENT HOUSING PORTFOLIO • MORGANTOWN, WV PROPERTY PARCEL MAP / SITE PLAN BUILDING TYPE DESCRIPTION Building 349 Apartment Top Floor - 349A - (2 Bedroom) Middle Floor - 349B - (2 Bedroom) Bottom Floor - 349C - (2 Bedroom) Building 353 Apartment Top Floor - 353A - (2 Bedroom) Middle Floor - 353B - (2 Bedroom) Bottom Floor - 353C - (2 Bedroom) Building 357 Apartment Top Floor - 357A - (2 Bedroom) Bottom Floor - 357B - (2 Bedroom) Building 361 Apartment Top Floor - 361A - (2 Bedroom) Middle Floor - 361B - (2 Bedroom) Bottom Floor - 361C - (2 Bedroom) Building 365 Apartment Top Floor - 365A - (2 Bedroom) Bottom Floor - 365B - (2 Bedroom) Building 377 House Main House - 377A (3 Bedroom) Lower Level - 377B (1 Bedroom) Building 387 House Main House - 387 (3 Bedroom) /389 Lower Level - 389 (1 Bedroom) Building 391 House Main House - 391 (1 Bedroom) Lower Level - Utility/Basement Building 397 House Main House - 397 (3 Bedroom) BLACK DIAMOND REALTY 05 349 GILMORE STREET APARTMENT BUILDING The apartment building at 349 Gilmore Street offers three levels, all of which Finishes to the apartments include: drywall ceilings, painted panelling, are individual, 2 bedroom, 1 bathroom apartments (total of 2,916 square feet). a combination of vinyl tile and carpet flooring, various lighting fixtures Each apartment offers 972 (+/-) square feet of living space with a full kitchen including ceiling fans and blinds on all windows. including a refrigerator, stove/oven and dishwasher. Apartment 349A does not have a dishwasher. This building also has a washer and dryer in each unit. Access to each apartment is by wood decking/stairs. All apartments have their own private patio/deck with a roof. WD WD WD BEDROOM BEDROOM BEDROOM ITCHEN ITCHEN ITCHEN UTILIT UTILIT UTILIT CL CL CL BATHROOM BATHROOM BATHROOM CL CL CL LIING ROOM LIING ROOM LIING ROOM BEDROOM BEDROOM BEDROOM DEC DEC DEC CL CL CL MAIN MAIN MAIN ENTRANCE ENTRANCE ENTRANCE TOP FLOOR - 349 A MIDDLE FLOOR - 349 B BOTTOM FLOOR - 349 C 06 GILMORE STREET • STUDENT HOUSING PORTFOLIO • MORGANTOWN, WV 349 Gilmore Street Exterior 349 Kitchen 349 Bathroom 349 Bedroom BLACK DIAMOND REALTY 07 353 GILMORE STREET APARTMENT BUILDING The apartment building at 353 Gilmore Street offers three levels, all of which Finishes to the apartments include: drywall ceilings, panelling on the walls, are individual, 2 bedroom,
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