520 University Way - Apartments FOR SALE


Reno, NV 89501
$3,000,000 USD
775-750-6429
520 University Way, Reno, NV for Sale
$3,000,000 USD
Apartments - FOR SALE
1/25
null | 8.83% Cap Rate

520 University Way
Reno, NV 89501


HIGHLIGHTS

  • Incredible Location Blocks from UNR, The Row, and Interstate 80
  • Fully Remodeled Property
  • Common Area Laundry
  • Hardwired High Speed Internet
  • Opportunity Zone Location

OVERVIEW

The Center Street Flats located in Reno, Nevada within the Downtown Reno submarket offer a total of 31 almost all nearly fully renovated motel units being used at monthly apartments. The units consist of four 1 bed 1 bath units and 27 studio units. Property features include hardwired Ubiquiti router system for fast internet, finished common laundry area, resurfaced parking lot, new exterior paint, and much more. The property is located in the heart of Downtown Reno offering multiple transit options, direct assess to major employers, just a few blocks south of the University of Nevada Reno, and 2 blocks east of The Row featuring the Silver Legacy, El Dorado, and Circus Circus Casino’s. It could be run as it currently is as monthly apartments or it can be leased as a motel or short term AirBNB units. Current certificate of occupancy shows use as motel. Do not disturb the tenants.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$316 USD /SF

# OF UNITS

31

PRICE/UNIT

$96,774

CAP RATE

8.83%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Center Street Flats

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

MD-ED

APN/PARCEL ID

007-501-08

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 Policy.