1045 Riverside Dr - Apartments FOR SALE


Reno, NV 89503- Downtown Reno
$4,100,000 USD
775-870-7142
1045 Riverside Dr, Reno, NV for Sale
$4,100,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

1045 Riverside Dr
Reno, NV 89503
Downtown Reno


HIGHLIGHTS

  • Rare, on the Truckee River, Location
  • Ample Off-Street Parking
  • Close to Downtown, the Riverwalk, Excellent Retail
  • Additional Garage and Storage Areas Included

OVERVIEW

Welcome to Loomis Manor at 1045 Riverside Drive, a prime multifamily investment property located in one of Reno’s most sought-after areas, across from the picturesque Truckee River. This building offers an exceptional location within walking distance of Downtown Reno, the Riverwalk district, and the scenic parks along the river. It’s surrounded by numerous restaurants, retail shops, and recreational opportunities, making it an ideal choice for renters looking to live in a vibrant and convenient neighborhood. The property consists of 18 units, with a mix of studios and 1-bedroom apartments. The building has recently undergone extensive renovations, including modern kitchens, stainless steel appliances, updated bathrooms, and new flooring in many of the units. With a 2-story, low-rise layout, the building offers tenants a comfortable living experience. The property also boasts additional land currently used as parking, providing ample space for tenants and a rare feature in the area. This property offers a strong value-add opportunity for investors with its continued renovation potential. The neighborhood's continued growth, coupled with the area’s increasing popularity among young professionals and families, promises significant upside potential for long-term rental income and future property appreciation.

FOR SALE DETAILS

PRICE

$4,100,000 USD

PRICE/SF

$424 USD /SF

# OF UNITS

18

PRICE/UNIT

$227,778

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riverside Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1934

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

MF30

APN/PARCEL ID

011-082-10,011-082-24

ASK ABOUT THIS PROPERTY

Chris MotonMarmot PropertiesMore Info
775-870-7142

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Chris MotonMarmot PropertiesMore Info
775-870-7142

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