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400 University Terrace PRICE REDUCED! 16 Unit Apartment Building $2,003,227 CAD ($125,202 CAD/Unit) 6% Cap Rate Reno, NV 89503
Investment Highlights
- Offered free and clear
- Priced well below replacement costs at $92,187 per unit
- Each quad configuration offers a fully shared kitchen and living room area
- Class A location is just blocks away from the University of Nevada, Reno campus
- Interiors boast private studio units with bathrooms, private balconies or patios
Executive Summary
Located in a prime University location, 400 University Terrace is a 16-unit boutique student living opportunity located just blocks away from the University campus. Built in 2008, the asset offers private studio apartments with private bathrooms, private balconies or patios. Each four-bedroom configuration offers a full (shared) kitchen, living room area, and washer and dryer. Community amenities offer carports, mature landscaping and scenic views of downtown Reno.
Multi Family price $1,475,000 (6.00% cap rate pro forma)
For more information:
Ben Nelson
Cell: (775) 741-6260
ben.nelson@colliers.com
Website: www.400universityterrace.com/
Multi Family price $1,475,000 (6.00% cap rate pro forma)
For more information:
Ben Nelson
Cell: (775) 741-6260
ben.nelson@colliers.com
Website: www.400universityterrace.com/
Property Facts
| Price | $2,003,227 CAD | Property Subtype | Apartment |
| Price Per Unit | $125,202 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6% | Lot Size | 0.14 AC |
| Gross Rent Multiplier | 11.34 | Building Size | 4,784 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2008 |
| Zoning | MF30 - Zoning Code: MF 30 | ||
| Price | $2,003,227 CAD |
| Price Per Unit | $125,202 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 11.34 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,784 SF |
| No. Stories | 2 |
| Year Built | 2008 |
| Zoning | MF30 - Zoning Code: MF 30 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Views
- Wi-Fi
- Breakfast Nook
- Patio
- Smoke Free
- Vinyl Flooring
- Window Coverings
Site Amenities
- Individual Locking Bedrooms
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | $981.24 CAD | 300 |
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Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (70)
Property Taxes
| Parcel Number | 007-201-37 | Improvements Assessment | $258,490 CAD |
| Land Assessment | $92,752 CAD | Total Assessment | $351,242 CAD |
Property Taxes
Parcel Number
007-201-37
Land Assessment
$92,752 CAD
Improvements Assessment
$258,490 CAD
Total Assessment
$351,242 CAD
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400 University Terrace | PRICE REDUCED!
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