1850-1852 Merchant St - Apartments FOR SALE


Sparks, NV 89431- Downtown Sparks
$6,200,000 USD
775-470-8873
1850-1852 Merchant St, Sparks, NV for Sale
$6,200,000 USD
Apartments - FOR SALE
1/13
null | 5.62% Cap Rate

1850-1852 Merchant St
Sparks, NV 89431
Downtown Sparks


HIGHLIGHTS

  • Priced well below replacement costs at $155,000 per unit and $189.00 per square foot
  • Value-add opportunity; rents are well below market
  • On site laundry rooms (2), barbeque and picnic areas
  • Renovations: 20 units have been completely renovated
  • Brand new mechanical systems and HVAC units
  • Balconies or patios for every unit

OVERVIEW

Kidder Mathews is pleased to present this Offering for The Villagio Apartments, an exceptional value-add multifamily asset in Sparks, Nevada. Built in 1979, the Villagio Apartments is a resplendent example where quality has been met with pride of ownership. Situated near a growing retail corridor, it is within walking distance to Paradise Plaza, Walgreens, Grocery Outlet, and many dining options. It is also on the RTC bus line making transportation easily accessible. Within proximity to Villagio are several family-friendly venues such as Teglia’s Paradise Park, Ardmore Park, and the Oddie District. It is also just a few miles from the Sparks Marina.

FOR SALE DETAILS

PRICE

$6,200,000 USD

PRICE/SF

$191 USD /SF

# OF UNITS

40

PRICE/UNIT

$155,000

CAP RATE

5.62%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Villagio Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

80

LAND DETAILS

LAND ACRES

1.52 AC

LAND SF

66,211 SF

ZONING

MUD

APN/PARCEL ID

031-020-18

ASK ABOUT THIS PROPERTY

Ben Nelson, CCIMKidder MathewsMore Info
775-470-8873

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Ben Nelson, CCIMKidder MathewsMore Info
775-470-8873

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