2150 Victorian Ave - Apartments FOR SALE


Sparks, NV 89431- Downtown Sparks
$2,800,000 USD
775-233-0754
2150 Victorian Ave, Sparks, NV for Sale
$2,800,000 USD
Apartments - FOR SALE
1/16
null | 7.9% Cap Rate

2150 Victorian Ave
Sparks, NV 89431
Downtown Sparks


HIGHLIGHTS

  • Seller Financing Available
  • Located near Downtown Sparks
  • Includes 3 travel trailers connected to utilities

OVERVIEW

Seller financing is available, and seller would prefer to sell as a portfolio with The Townsite (250 W Commercial). With seller financing terms for both assets, buyer would cash flow and potential cash on cash could be around 8%. Sparks Studios is a charming, retro, mid-century modern 23 unit complex located at 2150 Victorian Ave, Sparks, NV. This multi-family property offers a mix of studio and one-bedroom units, ranging in size from 220 to 400 square feet, making it a cozy and efficient living space. Conveniently located in Sparks near the Victorian Square, the location provides easy access to various amenities and public transportation. Residents can enjoy the convenience of laundry facilities on site. Parking is plentiful with various options available to suit different needs. A unique feature of Sparks Studios is the inclusion of three travel trailers connected to utilities that can rent for $1,300 each. There is a high demand for these (currently on a waitlist), and it adds to the retro charm of the complex. Additionally, five fully-furnished units are dedicated to short-term rentals, which can be rented nightly or weekly, providing flexibility and increased revenue, especially during peak times. Seller financing is available, and seller would like to sell along with The Townsite (250 W Commercial). For further details and investment analysis reach out to listing agent.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$550 USD /SF

# OF UNITS

23

PRICE/UNIT

$121,739

CAP RATE

7.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sparks Studios

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1943

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

MUD

APN/PARCEL ID

032-023-06

ASK ABOUT THIS PROPERTY

Trevor RichardsonAddress IncomeMore Info
775-233-0754

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

Trevor RichardsonAddress IncomeMore Info
775-233-0754

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