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Maine St. 9 Units 372 Maine St 9 Unit Apartment Building $2,219,513 CAD ($246,613 CAD/Unit) 5.55% Cap Rate Reno, NV 89502
INVESTMENT HIGHLIGHTS
- 2 bed units
- recent upgrades including exterior paint and a new roof
EXECUTIVE SUMMARY
5.55% CAP Rate on actuals / 7% proforma CAP Rate achievable by bringing rents to market rate. Current Gross Income = $88,213 / proforma Gross Income estimated at $111,284. Historically, the seller has benefited from low vacancy and stable income. Laundry hook-ups in all units. Property was freshly painted in 2025. Duplex building roof was replaced in 2025. Flexible MU (Mixed Use) zoning. Property was built in various stages - 1960 (2 units), 1962 (3 units), and 1984 (4 units). $176,667 per unit at asking price. APOD and Rent Roll are available. Property is tenant occupied - please, DO NOT disturb them.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$185,233
|
$27.98
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,557
|
$0.84
|
| Effective Gross Income |
$179,676
|
$27.14
|
| Taxes |
$7,003
|
$1.06
|
| Operating Expenses |
$49,534
|
$7.48
|
| Total Expenses |
$56,538
|
$8.54
|
| Net Operating Income |
$123,138
|
$18.60
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $185,233 |
| Annual Per SF | $27.98 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,557 |
| Annual Per SF | $0.84 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $179,676 |
| Annual Per SF | $27.14 |
| Taxes (CAD) | |
|---|---|
| Annual | $7,003 |
| Annual Per SF | $1.06 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $49,534 |
| Annual Per SF | $7.48 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $56,538 |
| Annual Per SF | $8.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $123,138 |
| Annual Per SF | $18.60 |
PROPERTY FACTS
| Price | $2,219,513 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $246,613 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 5.55% | Building Size | 6,621 SF |
| No. Units | 9 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1960/2025 |
| Zoning | MU - Mixed Use | ||
| Price | $2,219,513 CAD |
| Price Per Unit | $246,613 CAD |
| Sale Type | Investment |
| Cap Rate | 5.55% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 6,621 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2025 |
| Zoning | MU - Mixed Use |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 9 | - | - |
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Maine St. 9 Units | 372 Maine St
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