1508-1520 Locust St - Apartments FOR SALE


Reno, NV 89502- Wells Avenue Neighborhood
$1,245,000 USD
775-750-6429
1508-1520 Locust St, Reno, NV for Sale
$1,245,000 USD
Apartments - FOR SALE
1/21
null | 5.17% Cap Rate

1508-1520 Locust St
Reno, NV 89502
Wells Avenue Neighborhood


HIGHLIGHTS

  • In-Unit Laundry Hook Up
  • The Wells Avenue District
  • Upside In The Rents
  • Diverse Unit Mix
  • Renovated Units

OVERVIEW

The Flats at Locust St consists of 6 total units, on a large lot, within the Wells Avenue District just east of MidTown Reno. The unit mix consists of 5 one bedroom 1 bath units and 1 three bedroom 1.5 bath unit. Most units have their own fenced yard area and all units have in unit washer/dryer hookups. Tenants pay gas and electric and a flat rate reimbursement for sewer, water, and trash. The asset offers affordable work force housing, located within the Wells rental submarket which offers great access to restaurants, downtown Reno, Renown Medical Center, retail centers, bus lines, and community events all just steps from their front door. The property is a short distance to the Reno Public Market which is one of Reno’s most popular retail shopping areas with many food choices and also has many entertainment options. This can also be sold in a portfolio sale with 210 Claremont St which is 6-unit multifamily opportunity in the nearby MidTown/Wells submarket and also listed for sale.

FOR SALE DETAILS

PRICE

$1,245,000 USD

PRICE/SF

$307 USD /SF

# OF UNITS

6

PRICE/UNIT

$207,500

CAP RATE

5.17%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Flats at Locust St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,883 SF

ZONING

MF-30, Reno

APN/PARCEL ID

013-413-20

ASK ABOUT THIS PROPERTY

Ben GallesCBREMore Info
775-750-6429

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Ben GallesCBREMore Info
775-750-6429

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.