621 Humboldt St - Apartments FOR SALE


Reno, NV 89509- Midtown Reno
$2,100,000 USD
775-750-6429
621 Humboldt St, Reno, NV for Sale
$2,100,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

621 Humboldt St
Reno, NV 89509
Midtown Reno


HIGHLIGHTS

  • Incredible MidTown/Old SW Reno Location
  • Value Add Opportunity
  • Covered and Uncovered Parking Available
  • Big Upside in Rents

OVERVIEW

621 TEN IS A UNIQUE, 10-UNIT VALUE ADD OPPORTUNITY THAT HAS SOLID BONES INCLUDING SOLID BLOCK EXTERIOR, SECURE INTERIOR CORRIDORS, AND UPSIDE IN RENTS THROUGH IN UNIT RENOVATIONS. The unit mix consists of six 1 bedroom 1 bath units and four studio units. The interiors feature hard surface flooring, larger living rooms, and ample windows for natural light. The exterior features a larger lot with both covered and uncovered parking, classic brick design, and owner owned onsite laundry facilities. Upside in the rents in modernizing the interior finishes and increasing the rents to market rates. The heating system is a radiant baseboard heat and the air conditioning is seasonal window units. Tenants pay their own electrical. The property offers tenants great access to S Arlington Street, California Ave, Plumas Street, and S Virginia Street, allowing for walkability to experience the true live-work-play in Reno’s MidTown submarket. This is a great opportunity to acquire a well-located, multifamily property and is a great exchange property for an investor looking to reset their depreciation schedule and own multifamily units in a landlord friendly state.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$342 USD /SF

# OF UNITS

10

PRICE/UNIT

$210,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

621TEN

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,131 SF

ZONING

MF30

APN/PARCEL ID

011-216-05

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.