Contacts
Property Details
- Property Type Other
- Lot Size 14.18 SF
- Date Updated Jan 21, 2025
409 UNITS WITH SIGNIFICANT VALUE-ADD UPSIDE IN MORGANTOWN, WV
Colliers is pleased to present Bon Vista, The Villas, and Barrington North, a 409-unit garden-style community with immediate value-add upside and scale located less than 10 minutes from West Virginia University. Built in 1985, 1992, and 2005, the three individual communities operate as one asset and provide new ownership with investment flexibility and optionality. All 409 units are in near original condition offering basic cabinets, tile floors, white appliances, and laminate countertops. Premium finishes such as modern white cabinets, hardwood-style flooring, stainless steel appliances, and higher-end laminate or granite countertops deliver immediate returns, projected to generate average monthly premiums of $100/unit.
In good physical condition, new ownership can leverage strong organic rent growth on new leases (8% over the last 8 months) and positive market fundamentals (no new supply and 4.1% annual rent growth from 2024 to 2026) to push top-line revenue and time value-add improvements perfectly.
NO NEW SUPPLY & LESS THAN 10 MINUTES FROM WEST VIRGINIA UNIVERSITY
Positioned minutes from West Virginia University (7,700 jobs and 26,000 students), JW Ruby Memorial Hospital, and the Morgantown Municipal Airport, Bon Vista, The Villas, and Barrington North provides easy access to grocery-anchored retail and the largest employers in Morgantown. The lack of an incoming development pipeline (no units scheduled over the next 3 years) provides runway for future rent growth and minimizes concessionary pressure.
94% Occupied (*excludes 12 units are currently being renovated & scheduled to go back online in Mar)
Reach out to the broker for more info on lease terms and amenities
Getting around
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22/100
Walk Score ®
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13/100
Bike Score ®
Location
- City Morgantown, WV
- Zip Code 26505
Points of Interest
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Kroger
0.43 miles
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Sheetz
0.89 miles
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Circle K
1.24 miles
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Exxon
1.47 miles
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BP
1.68 miles
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Kroger Gas Station
1.83 miles
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BFS Food and Gas
2.03 miles
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Marathon
2.27 miles
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Morgantown Supercharger
5.43 miles
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Off-Site Employee Parking
0.41 miles
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Eastwood Parking
0.83 miles
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Northpoint Plaza
0.84 miles
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Willowdale Garage
0.94 miles
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WVNET Parking Lot
1.10 miles
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Ruby Hospital Parking Garage
1.23 miles
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Law School Parking Lot 1 (WVU)
1.25 miles
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Law School Parking Lot 2 (WVU)
1.30 miles
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Law School Parking Lot 3 (WVU)
1.31 miles
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Mountaineer Station
1.34 miles
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Hilton Garden Inn
0.47 miles
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Residence Inn Morgantown
0.90 miles
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Holiday Inn Morgantown - University Area
0.94 miles
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Euro hotel s
1.40 miles
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Euro Suites
1.41 miles
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Hampton Inn Morgantown
1.51 miles
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Suburban Extended Stay Hotel
2.02 miles
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Super 8
2.13 miles
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Hotel Morgan
2.25 miles
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Econo Lodge Colesium
2.63 miles
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Kroger
0.47 miles
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ALDI
1.93 miles
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Price Cutter
2.16 miles
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Big Lots
3.27 miles
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Walmart Supercenter
3.41 miles
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Target
3.45 miles
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Giant Eagle
3.63 miles
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Mountaineer Mall
3.75 miles
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Morgantown Mall
3.88 miles
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Dollar General Market
4.09 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.