1834 A St, 1842 St., 0 A St Assemblage 2 Properties Offered at $1,928,500 CAD in Multiple Locations

Sparks Development Assemblage Opportunity
$1,100,000.00 Income Producing Rentals + $300,000.00 Vacant Lot
TOTAL: $1,400,000.00
This multi-unit, multi-story development opportunity in a MUD zoned area of Sparks is perfectly located for a building of 3-4 stories giving top floors views of downtown Reno and the surrounding Sierras.
Located 3 blocks West of the current developments of Victorian Square in downtown Sparks in front of the Nugget. Close to freeway access, shopping, casinos, transportation and much more.
There are 2 adjacent lots with 3 houses and a duplex (1834 and 1842 A St.) for a total of 5 rentable units.
Current NOI is $66,094.00 per year for the 5 rentals giving this property an actual 6.0% cap rate.
The vacant corner lot (0 A St.) is for sale for $300,000.00 making 3 contiguous lots of approximately .572 acres of development opportunity with alley access on the back of the entire property and ample street parking around the front and side.
APNs: 032-113-11, 032-113-12, 032-113-13
These properties are to be sold as an assemblage and will not be separated out individually.
Room rents in the current market are underpriced and can be increased. This opportunity provides rental income while a developer draws up plans and pulls permits for a building between 30-45 units which will largely increase the income for this property. Or it can be kept as an income property and the lot can be built out for additional units.
DO NOT DISTURB TENANTS.
Property details such as: lot square footage, zoning, and building codes to be verified by buyer.
Seller is an active NV Real Estate Broker B20127