Deer Park Apts - Assumable 3.4% Financing 1800 Prater Way 39 Unit Apartment Building $8,619,806 CAD ($221,021 CAD/Unit) 4.98% Cap Rate Sparks, NV 89431

The Deer Park Apartments present an investment opportunity to acquire 39 units with assumable 3.4% financing!! Located in central Sparks, easy access to major thoroughfares such as Rock Blvd., Interstate 80, and Pyramid Hwy creates a strong and consistent tenant demand. The property is comprised of 37 one bedroom, one bathroom units, and 2 studios units. Units feature LVP flooring, gally style kitchens, and larger living rooms. This highly efficient unit mix offers attainable housing at competitive rents, making it an ideal opportunity for investors looking to modernize units and increase rental income. Many capital improvements have been completed recently, including a new roof in 2019, new electrical panels in 2025, and a new fire alarm panel in 2023. Amenities include ample newer appliances in most units, ample onsite parking, onsite laundry facilities, and large common areas for residents.
This is a prime location in the heart of Sparks, one mile from Victorian Square. Victorian Square is home to both Reno & Sparks major events, The Best In The West Rib Cook Off, Hot August Nights, the newest outdoor concert venue The Nugget Event Center, local farmers markets, 39 North events and so much more. These easy to rent units offer direct access to restaurants, arts and culture events, shopping, employers, and main thoroughfares.