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29 S Park St 4 Unit Apartment Building $1,256,328 CAD ($314,082 CAD/Unit) 5.56% Cap Rate Reno, NV 89502
INVESTMENT HIGHLIGHTS
- Offered Free and Clear
- Renovated four units have been renovated with new luxury vinyl plank (LVP), quartz countertops, shaker kitchen cabinets, stainless steel appliances
- Exponential growth to downtown Reno with mixed-use development, major employment, and the University of Nevada, Reno
- Priced below replacement costs at $225,000 per unit
- Value-add potential through rent growth and adding RUBS
EXECUTIVE SUMMARY
Kidder Mathews is pleased to present an 4-unit investment located near Downtown Reno at 29 Park Street. The assset is 100% occupied.
This is a prime investment opportunity located near the Truckee River in the heart of downtown Reno. The asset includes One – one bed/one-bath unit; Two – two bed/one and a half bath units; and One – two bed/one bath unit totaling 2,940 square feet. All four units have been renovated with new luxury vinyl plank (LVP), quartz countertops, shaker
kitchen cabinets, stainless steel appliances, new bathroom vanities, brushed nickel finishes and more. Each unit offers a stackable washer and dryer. Common area amenities feature professional management, fenced yard, close to bus line, on-site parking.
This is a prime investment opportunity located near the Truckee River in the heart of downtown Reno. The asset includes One – one bed/one-bath unit; Two – two bed/one and a half bath units; and One – two bed/one bath unit totaling 2,940 square feet. All four units have been renovated with new luxury vinyl plank (LVP), quartz countertops, shaker
kitchen cabinets, stainless steel appliances, new bathroom vanities, brushed nickel finishes and more. Each unit offers a stackable washer and dryer. Common area amenities feature professional management, fenced yard, close to bus line, on-site parking.
PROPERTY FACTS
| Price | $1,256,328 CAD | Building Class | C |
| Price Per Unit | $314,082 CAD | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 2,940 SF |
| Cap Rate | 5.56% | Average Occupancy | 75% |
| Gross Rent Multiplier | 13.58 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1926/1982 |
| Property Type | Multifamily | Parking Ratio | 0.14/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | MUDR - MD – Redevelopment District | ||
| Price | $1,256,328 CAD |
| Price Per Unit | $314,082 CAD |
| Sale Type | Investment |
| Cap Rate | 5.56% |
| Gross Rent Multiplier | 13.58 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 2,940 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built/Renovated | 1926/1982 |
| Parking Ratio | 0.14/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MUDR - MD – Redevelopment District |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 580 |
| 2+1 | 1 | - | 640 |
| 2+2 | 2 | - | 860 |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (93)
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29 S Park St
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