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2312 Wedekind Rd, Reno, NV 89512
Monica McCallumColdwell Banker Select Real Estate1170 S Rock Blvd,Reno, NV [email protected](775) 800-3196
Price: $950,000
No. Units: 8
Property Type: Multifamily
Property Sub-type: Apartments
Building Class: C
Sale Type: Investment
Cap Rate: 7.41%
Lot Size: 0.33 AC
Building Size: 4,536 SF
No. Beds: 8
No. Stories: 2
Year Built: 1987
Parking Ratio: 1.76/1,000 SF
Zoning Description: MF30
APN / Parcel ID: 026-801-04
$950,000
This meticulously maintained apartment building istucked away in its own little, quite community. Only 5minutes from downtown Reno and UNR college. 25-30min from Tesla/Panasonic, switch, Zulilly and manymore large companies housed in the Industrial park inSparks, NV. Next to bus lines, the HWY, lots ofshopping and many town events within minutes of thislocation. Once renters move in they love the area somuch they never want to leave with some living in theunit 30 years. Remodeled in 2016 and 2018 with manybrand new windows, new security gates. 3 units wereupgraded with granite counter tops. Tile bathroom floorsand showers, laminate kitchen floors, carpet in theliving areas and much more. 50 year old roof, very nicesiding and all units are in great condition. Tenants payfor utilities. Individually metered gas and electric.Tenants are amazing and keep there units very nice andthe owner keeps up on all repairs and maintenanceLong term tenants on month to month leases so thenew owner can get them in a contract with what worksfor them.
Rents increased February 2019 and will increase againApril 2019. Solid Investment opportunity and 100%occupied. High Cap Rate. Skies the limit on theearnings you can make on this 8 unit apartmentbuilding. Reno/Sparks has a vacancy shortage and thedemand is high for housing. Reno/ Sparks is # 1 in thenation for job growth. #1 in the nation in populationgrowth. #1 in the nation in property value increases andrental price increases. This is a Recipe for major growthfor you as an investor.
This building has its own Gated private parking for thetenants. Property is located in the same driveway as2300 Wedekind Dr. Drive all the way to the back of theparking lot and this complex is the very last building. We have the market to support your goals of an incomeproperty. See all the attached documents for rent rolland APOD here in this ad.
8 plex- centrally located
washer and dryer in each unit
private parking lot
individually metered- tenants pay utilities
Meticulously Maintained
100 % occupied
For more information visit:https://www.loopnet.com/Listing/2312-Wedekind-Rd-Reno-NV/15346990/
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Unit/Room Mix Information
Description No. Units Avg. Rent/Mo Sq. Ft
1+1 8 Negotiable 567
2312 Wedekind Rd, Reno, NV 89512
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