372 Maine St - Apartments FOR SALE


Reno, NV 89502- Washoe Regional Center
$1,590,000 USD
775-225-1144
372 Maine St, Reno, NV for Sale
$1,590,000 USD
Apartments - FOR SALE
1/26
null | 5.55% Cap Rate


HIGHLIGHTS

  • 2 bed units
  • recent upgrades including exterior paint and a new roof

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,590,000 USD

PRICE/SF

$240 USD /SF

# OF UNITS

9

PRICE/UNIT

$176,667

CAP RATE

5.55%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Maine St. 9 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,819 SF

ZONING

MU

APN/PARCEL ID

012-163-02

ASK ABOUT THIS PROPERTY

Chris McCainDL RealtyMore Info
775-225-1144

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Chris McCainDL RealtyMore Info
775-225-1144

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