MARKETING FLYER

125 PARK STREET

129 PARK STREET / 301 & 305 COBUN AVENUE

PARK STREET / COBUN AVENUE STUDENT HOUSING INVESTMENT MORGANTOWN, WV 26505 MYLAN PUSKAR STADIUM FOOTBALL STADIUM EVANSDALE CAMPUS

WEST VIRGINIA UNIVERSITY MAIN CAMPUS

DOWNTOWN MORGANTOWN

PARK STREET / COBUN AVENUE MORGANTOWN, WV 26505 TABLE OF CONTENTS

Investment Overview Introduction of the property including building specifications, utilities, legal description, zoning and parcel map. 02 125 Park Street Floor Plan/Photos Floor plan, interior and exterior photos of 125 Park Street. 06 129 Park Street Floor Plan/Photos Floor plan, interior and exterior photos of 129 Park Street. 08 301 Cobun Avenue Floor Plan/Photos Floor plan, interior and exterior photos of 301 Cobun Avenue 10 SUBJECT ASSETS 305 Cobun Avenue Floor Plan/Photos PARK STREET / COBUN AVENUE Floor plan, interior and exterior photos of 305 Cobun Avenue 12 Location Overview Major local employers and a detailed description/aerial photo of the property and its proximity to surrounding businesses and locations. 14 Demand Drivers West Virginia University and the surrounding location. 16 Aerial Photos Aerial photos of the property from different heights and angles. 18 INVESTMENT OVERVIEW

PARK STREET / COBUN AVENUE MORGANTOWN, WV 26505

• 125 Park Street • 301/ 301 1/2 Cobun Avenue Three, 3-Bed, 1-Bath Units One, 3-Bed, 1-Bath Unit One, 2-Bed, 2-Bath Unit One, 1-Bed, 1-Bath Unit (Second and third floor of corner house) • 129 Park Street One, 3-Bed, 1-Bath Unit • 305A/B Cobun Avenue (First floor of corner house) Two, 1-Bed, 1-Bath Units

SALE PRICE / $990,000 CAP RATE / 8.25% TOTAL NUMBER OF BEDS / 21 GROSS BUILDING SIZE / 9,748 SQ FT GROSS LOT SIZE / 0.23 ACRES CITY LIMITS / INSIDE

Black Diamond Realty is pleased to present the Park Street / Cobun Avenue Student Housing Portfolio in Morgantown. The subject properties are located near the corner of Park Street and Cobun Avenue in the South Park area of Morgantown. These assets are within close proximity to complementary amenities, including shopping and restaurants in the downtown Morgantown and Sabraton submarkets, as well as WVU’s Downtown Campus.

PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV HEALTH SCIENCES CAMPUS EVANSDALE CAMPUS

WVU COLLEGE OF LAW

WVU MAIN CAMPUS

WESTOVER

DOWNTOWN MORGANTOWN

PARK STREET / COBUN AVENUE

MORGANTOWN HIGH SCHOOL

Morgantown, WV - WVU Main Campus, Downtown, Evansdale Campus, Health Sciences Campus, College of Law, Milan Puskar Stadium and Westover. LOCATION The subject property is located within the city limits of Morgantown offering 305 COBUN AVENUE convenient access to West Virginia University’s campuses. The property is Built in 1920 and remodeled in recent years, a detached two-story structure within walking distance of the Downtown Campus, downtown business area is located behind the main corner building and can be accessed via Cobun of Morgantown and a short bus ride or PRT ride to the fast growing Evansdale Avenue. This structure has a total of 1,200 square feet and offers two, 1-bed- and Health Sciences Campuses. The site is situated 2.4 miles to I-79, Exit 152 room/1-bathroom units which are addressed 305A and 305B Cobun Avenue. and 3.9 miles to I-68, Exit 1. This structure is brick exterior with a shingle roof and new rubber roof. SITE DESCRIPTION UTILITIES The property is comprised of one, multi-level apartment building and one All public utilities are available to the site. Electric is provided by Mon Power. detached multi-level residential house with another multi-level detached unit Natural gas is provided by Dominion Energy West Virginia. Water and sewer off the back. Both buildings are situated on two rectangular shaped tracts of are provided by the Morgantown Utility Board (MUB). Internet, cable and land totaling 0.23 acre. All structures are accessible from Park Street or Cobun trash are available via multiple providers. There is only one master meter for all Avenue. See the parcel map and list of apartments on Page 5. major utilities for 129 Park Street, 301 Cobun Avenue, and 305 Cobun Avenue. BUILDING SPECIFICATIONS INGRESS / EGRESS / PARKING 125 PARK STREET All structures can be accessed via Park Street and Cobun Avenue. There are The two-story, multi-unit apartment building, totaling 4,224 (+/-) square feet, two, 6-vehicle, off-street parking lots available at this portfolio of properties. was constructed in 1983. It has been maintained since 2015 by current own- Six parking spaces are available immediately in front of 125 Park Street. ership. The building is wood frame construction with vinyl siding and a new Another six, off-street parking spaces are also available in front and adjacent roof. All apartments have AC window units and electric baseboard heat. This to 305 Cobun Avenue. City of Morgantown, on-street blue line passes can building has a new metal roof. There are four total apartments and 11 total also be purchased for a relatively nominal yearly fee. bedrooms. Three apartments are 3-bedroom/1-bathroom and one apartment is 2-bedroom/1-bathroom. Washer and dryer units are in the basement of 129 LEGAL DESCRIPTION / ZONING Park Street / 305 Cobun Avenue, along with storage space. Parking is available Located within Monongalia County, this property is situated within the City of directly in front of this building. Morgantown’s Second Ward District. The sale includes two parcels that are 129 PARK STREET / 301 COBUN AVENUE further identified in Monongalia County tax records as Second Ward, Map 29, Situated at the corner of Park Street and Cobun Avenue, the three-story, Parcels 360 and 361. The deed is recorded in Deed Book 1539 on Page 172. multi-unit house was constructed in 1920 and totals 5,104 (+/-) square feet. 125 Park Street, 129 Park Street and 301 Cobun Avenue (two structures) fall The building is separated into three units, one per floor. The first floor unit is within Morgantown’s B-4 zoning district. 305 Cobun Avenue and the adjacent a 3-bedroom/1-bathroom unit and is addressed 129 Park Street. The entrance parking lots fall within Morgantown’s R-1A zoning district. to this unit faces Park Street. The second floor unit is a 3-bedroom/1-bath- room unit with a new large balcony/deck and is addressed 301 Cobun Avenue. The third floor unit is a 2-bedroom/1-bathroom unit and is addressed 301 1/2 Cobun Avenue. The entrance to 301 and 301 1/2 is located at the back of the house along Cobun Avenue. This structure is brick exterior with a shingle roof.

PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV PROPERTY PARCEL MAP

ADDRESS BEDS BATHS PARKING ADDRESS BEDS BATHS PARKING

125A Park Street 3 1 Gravel Lot Parking 301 Cobun Avenue 3 1 Gravel Lot Parking

125B Park Street 3 1 Gravel Lot Parking 301 1/2 Cobun Avenue 1 1 Gravel Lot Parking

125C Park Street 3 1 Gravel Lot Parking 305A Cobun Avenue 1 1 Gravel Lot Parking

125D Park Street 2 2 Gravel Lot Parking 305B Cobun Avenue 1 1 Gravel Lot Parking

129 Park Street 3 1 Gravel Lot Parking 125 PARK STREET FOUR UNITS, TWO LEVELS, APARTMENT BUILDING The apartment building at 125 Park Street offers four total units, three 3-bed- at the front of the building. All kitchens include a refrigerator, stove/oven and room, 1-bathroom units (A, B and C) and one 2-bedroom, 2-bathroom unit (D). dishwasher. All units have a small exterior deck. Finishes to the apartments Units A and D are located on the lower level of the building with entrances on include: drywall walls and ceilings, a combination of new vinyl and carpet either side of the building. Units B and C offer entrances via internal staircase flooring and a variety of lighting fixtures.

DECK DECK DECK DECK LOWER LEVEL UPPER LEVEL

BEDROOM BEDROOM LIVING BEDROOM BEDROOM LIVING LIVING LIVING ROOM ROOM ROOM ROOM

LAUNDR ROOM

BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM

MAIN ENTRANCE TO B / C UNIT A

UNIT B

UNIT C

UNIT D

06 PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV Front of Building Unit B - Living Room

Unit B - Kitchen Unit B - Bedroom

07 129 PARK STREET ONE, FIRST FLOOR UNIT, CORNER HOUSE The apartment at 129 Park Street is located on the first floor of the brick refrigerator, stove/oven and dishwasher. At the main entrance there is a large house at the corner of Park Street and Cobun Avenue. The unit offers a covered patio. Finishes to the apartment includes: drywall walls and ceilings, main entrance along Park Street, a large living room, kitchen, three sizable a combination of vinyl and carpet flooring and a variety of lighting fixtures. bedrooms with closets and one full bathroom. The kitchen includes a

LOWER LEVEL

BATHROOM BEDROOM BEDROOM

BEDROOM LIVING ROOM

08 PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV Exterior Main Entrance Kitchen

Bedroom Living Room

09 301 & 301 1/2 COBUN AVENUE TWO UNITS, SECOND AND THIRD FLOOR, CORNER HOUSE 301 and 301 1/2 Cobun Avenue consists of the second and third floors of the The third floor unit (301 1/2) can also be accessed via internal staircase at brick building at the corner of Park Street and Cobun Avenue. The second the back of the house. This apartment offers a large living room, kitchen, floor unit (301) is comprised of the entire second floor and can be accessed at one bedroom with closets and one full bathroom. The kitchen includes a the back of the house via internal staircase. This apartment offers a large living refrigerator, stove/oven and microwave. Finishes to the apartment includes: room, kitchen, three sizable bedrooms with closets and one full bathroom. The a mix of drywall and panelling walls, drywall ceilings, a combination of wood kitchen includes a refrigerator, stove/oven and microwave. Along Park Street plank and vinyl flooring and a variety of lighting fixtures. off of the living room there is a large balcony/deck. Finishes to the apartment includes: a mix of drywall and panelling walls, drywall ceilings, a combination of wood plank and vinyl flooring and a variety of lighting fixtures. DECK

KITCHEN

301 Cobun Avenue Floor Plan shown above 301 1/2 Cobun Avenue Floor Plan Unavailable

10 PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV Exterior Main Entrance Kitchen

Living Room Bedroom

11 305 A/B COBUN AVENUE TWO UNITS, FIRST AND SECOND FLOOR, DETACHED BACK BUILDING The building at 305 Cobun Avenue offers two units. It is located behind the room, kitchen, one bedroom and one full bathroom. The kitchens include a brick house along Cobun Avenue. The lower level unit (305A) can be accessed refrigerator, stove/oven and microwave. Finishes to the apartments include: at the front of the building and the upper level unit (305B) can be accessed via a mix of drywall and panelling walls, drywall and drop ceilings, vinyl flooring external staircase along the side of the building. Both apartments offer a living and a variety of lighting fixtures.

305 A 305 B

DINING ROOM / KITCHEN

KITCHEN ROOF TOP

12 PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV Main Entrance Living Room

Kitchen Bedroom

13 LOCATION OVERVIEW

MONONGALIA COUNTY Monongalia County lies in north central West Virginia. Morgantown is the county seat and home to West Virginia University. Education and healthcare are stable economic engines that drive the local economy. The WVU Bureau of Business and Economic Research calls for “continued healthy growth” well into the future. View the 2018-2022 north central West Virginia Economic Outlook by using the link below.

POPULATION 2019 Morgantown MSA Population 140,300 1

HOUSING PARK STREET / COBUN AVENUE STUDENT HOUSING PORTFOLIO 2019 Morgantown MSA Median Household Income $50,531 1 JOB GROWTH

2018 Morgantown MSA Job Growth Up 0.8% 1

MORGANTOWN: BEST SMALL PLACES FOR 1 BUSINESS AND CAREERS IN 2019 Distance to nearby cities: Fairmont, WV - 21 miles, Uniontown, PA - 27 miles, SOURCES Bridgeport, WV - 35 miles, Washington, PA - 47 miles, Pittsburgh, PA - 75 miles, Wheeling, WV - 86 miles, Charleston, WV - 156 miles. 1 - https://www.forbes.com/places/wv/morgantown/ 2018-2022 North Central West Virginia Economic Outlook - https://business.wvu.edu/files/ d/124d5862-affe-43fa-994c-ee9e8ed69c29/north-central-wv-economic-outlook-2018-2022.pdf

14 PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV The aerial above highlights several of the most Westover Area Walnut PRT Station popular surrounding locations. The subject Waterfront Marriott Hotel Beechurst PRT Station Wharf District Hodges Hall property has been referenced with a yellow Engineering PRT Station Downtown Morgantown Armstrong Hall star. The properties are located along Park Towers PRT Station Morgantown High School Eberly College of Arts and Sciences Medical Center Street and Cobun Avenue, a short walk to South Park Service Center College of Business and Economics PRT Station West Virginia University’s main campus. Parking Garage U Club Sunnyside CVS Towers Evansdale WV Junior College WVU Evansdale Campus Department of Physics WVU Coliseum Downtown Campus Library University Town Centre C. Eugene Department of Chemistry WestRidge 15 DEMAND DRIVERS

WVU Main Campus - Morgantown, WV

West Virginia University is a family of distinctive campuses united by a single mission. From the groundbreak- ing research of the flagship in Morgantown to the liberal arts hub of WVU Potomac State in Keyser to the technology-intensive programs at WVU Tech in Beckley — they are leveraging their talents and resources to create a better future for West Virginia and the world. WVU is ranked as a Research University (Highest Research Activity) – R1 – in the 2015 Carnegie Classification of Institutions of Higher Education.2 The WVU Morgantown campuses are located in a town named “No. 1 Small City in America” by BizJournals. com for its exceptional quality of life. Morgantown, population 30,855, was also rated the ninth best college town in America by Business Insider and is within easy traveling distance of Washington, D.C., to the east, Pittsburgh, Pa., to the north, and Cleveland and Columbus, Ohio, to the northwest. Other rankings: Kiplinger.com WVU Football - Milan Puskar Stadium included Morgantown in their 10 great places to live list; one of “Best Sports Cities” by Sporting News; 5th “Best Small Metro” by Forbes; 12th overall “Hottest Small City” by Inc.; one of “50 Smartest Places to Live” by Kiplinger’s; and the second-ranking “Best College Town for Jobs” by Forbes. 2 Students at the Morgantown campus come from 108 nations, all 50 U.S. states and all 55 West Virginia counties; 13,986 are West Virginia residents. In fall 2019, WVU’s Morgantown campuses enrolled roughly 30,000 students. 2 WVU Medicine, the affiliated academic medical system of West Virginia University, unites the clinical and research faculty of the West Virginia University Health Sciences Center with the hospitals, clinics, and health professionals of the West Virginia University Health System. Together, they are a national leader in patient safety and quality, they are unified and driven by a passion to provide the most advanced healthcare possible 3 to the people of West Virginia and the world. WVU Medicine - Ruby Memorial Hospital SOURCES 2 - https://www.wvu.edu/ 3 - https://wvumedicine.org/about/

16 PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV

SHOPPING RESTAURANTS

• Morgantown has a wide variety of big box retailers plus locally owned • Throughout Morgantown, upscale and casual dining options coexist with merchants. Find men, women and children’s clothing/accessory stores, neighborhood bistros, family-owned eateries, national chains and spirited housewares, hard goods, soft goods and more at local malls and shopping pubs and tastes from around the world. centers including the University Town Centre, Gateway, Suncrest Towne • Top restaurants in Morgantown voted by locals include: Black Bear, Mario’s Centre, Pierpont Centre, Morgantown Mall, and Wesmon Plaza. Fish Bowl, Iron Horse, Table 9, Tailpipes, Sargasso, Hill and Hollow and Tin • Choose from numerous supermarket options in Morgantown including 202. Other popular establishments include Stefano’s, Kegler’s, The Wine Sam’s Club, Walmart Supercenter, Kroger, Aldi, Giant Eagle and local Bar, Crab Shack Cariba and Mountaineer Tap House. organic markets.

TRANSPORTATION ENTERTAINMENT

• Mountain Line is the town’s bus service, and is free for faculty, staff and • Morgantown offers a variety of events and entertainment opportunities year students with a valid WVU ID. The cost for non-WVU users is 75 cents per ride. round including WVU football games, WVU basketball games, baseball The Mountain Line offers WVU specific routes, city/county routes and routes games at the new WV Black Bears ball park, live concerts and more. to Pittsburgh. • A significant nightlife presence is concentrated in downtown Morgantown. • Morgantown offers access to a variety of taxi services and Uber and Lyft Multiple bars offer evening happy hour drink and dinner specials, as well as drivers as an alternate means of transportation. nightly live music, karaoke, trivia and drink specials. • Located only seven minutes from WVU Main campus, Morgantown • Other entertainment options include a bowling alley, Regal movie theatre, Municipal Airport (MGW) currently offers daily flights to Baltimore- golf courses, walking and biking nature trails, fishing and boating on Cheat Washington International (BWI) in Maryland and Pittsburgh International Lake and more. Airport in Pennsylvania accessing nearly 1,000 connecting flights to domestic and international destinations.

BLACK DIAMOND REALTY 17 Aerial View Facing Southeast

18 PARK STREET / COBUN AVENUE • STUDENT HOUSING INVESTMENT • MORGANTOWN, WV Aerial View Facing East

Aerial View Facing North Aerial View Facing Northwest

BLACK DIAMOND REALTY 19 FINANCIAL INFORMATION Financial information is available upon request and receipt of a signed Confidentiality & Non-Disclosure Agreement. CLICK HERE to obtain this agreement.

CONTACT BLACK DIAMOND REALTY LLC

1399 Stewartstown Road, Suite 150 Mark J. Nesselroad, Broker Kim Licciardi, Associate Janelle Zeoli, Senior Designer/Marketing Coordinator Morgantown, WV 26505 [email protected] [email protected] [email protected]

P. 304.413.4350 F. 304.599.3285 David Lorenze, Principal Chris Waters, Associate Andrea Cooper, Junior Designer/Office Manager [email protected] [email protected] BlackDiamondRealty.net [email protected] Jeff Stenger, Associate Jeff Wise, Associate * All information is believed to be accurate but not [email protected] [email protected] guaranteed. More information is available upon request.