468 Capitol Hill Ave - Apartments FOR SALE


Reno, NV 89502- Midtown Reno
$880,000 USD
775-600-7264
468 Capitol Hill Ave, Reno, NV for Sale
$880,000 USD
Apartments - FOR SALE
1/18
null | 5.68% Cap Rate

468 Capitol Hill Ave
Reno, NV 89502
Midtown Reno


HIGHLIGHTS

  • Owner occupant financing eligible
  • Potential for future development with MF-30 zoning
  • Three 1 bed units and one 3 bed units
  • Wells Ave submarket

OVERVIEW

The Capitol Apartments consists of 4 total units, on a large lot with potential to build additional units. One unit is currently vacant for potential owner occupant financing but could be leased for an investor looking for a fully leased asset. Located in Reno, NV bordering both the MidTown Reno and the Wells Avenue Districts, this asset offers three 1 bed units and one 3 bed 1 bath unit with the potential to add additional units in the future. Units have been renovated to more modern finishes which include LVP flooring, upgraded appliances, newer countertops, lighting, kitchen and bathroom, new exterior and interior paint, pavered patios, new roofs, new windows and doors, two new furnaces as well as plumbing and electrical updates. The asset is market rate 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.

FOR SALE DETAILS

PRICE

$880,000 USD

PRICE/SF

$385 USD /SF

# OF UNITS

4

PRICE/UNIT

$220,000

CAP RATE

5.68%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Capitol Hill Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

MF-30

APN/PARCEL ID

013-411-07

ASK ABOUT THIS PROPERTY

Austyn MooreCBREMore Info
775-600-7264

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Austyn MooreCBREMore Info
775-600-7264

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