1617 N Virginia St - Apartments FOR SALE


Reno, NV 89503- West University
$16,500,000 USD
775-470-8873
1617 N Virginia St, Reno, NV for Sale
$16,500,000 USD
Apartments - FOR SALE
1/17
null | 5.43% Cap Rate

1617 N Virginia St
Reno, NV 89503
West University


HIGHLIGHTS

  • Class A location just steps away from University of Nevada, Reno campus
  • Located in a designated Opportunity Zone
  • Priced well below replacement costs at $127,907 per unit and $384 per square foot
  • Amenities include newly renovated clubhouse with WiFi, study areas, outdoor lounge area, landscaped courtyards, bicycle parking
  • Fully furnished unit interiors offering new plank floors, renovated bathrooms
  • Studio units are rare, those available are significantly higher in rent; nothing available at this location

OVERVIEW

Kidder Mathews is pleased to present LEV Apartments, a 42,996 SF property located across from UNR campus. LEV Apartments consists of 129 units sharing common kitchens and one; one bedroom unit. Under the current ownership, the property has seen major renovations such as: INTERIOR RENOVATIONS • New wood laminate flooring • New bathroom vanities • Kitchenette with microwave and refrigerator in select units • Fully furnished units with study desk, bed, mattress, chair • Upgraded high-speed WIFI with router in each quad EXTERNAL RENOVATIONS • New parking lots • New sidewalks/curbs • New landscaping • New exterior paint on all buildings • Renovated clubhouse • Bicycle parking area

FOR SALE DETAILS

PRICE

$16,500,000 USD

PRICE/SF

$384 USD /SF

# OF UNITS

129

PRICE/UNIT

$127,907

CAP RATE

5.43%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LEV Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

108

LAND DETAILS

LAND ACRES

2.6 AC

LAND SF

113,256 SF

ZONING

MF14

APN/PARCEL ID

003-150-20

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 Policy.