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3421 Neil Road
Reno, NV 89502 ·

34 Units · Multifamily For Sale

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100% Occupied 34 Unit Complex at 3421 Neil Rd

Price N/A Commission Split 3%
No. Units 34 Cap Rate 8.03%
Building Size 30,259 SF No. Stories 2
Property Type Multifamily Year Built 1963
Property Sub-type Garden/Low-Rise Lot Size 1.57 AC
Property Use Type Investment APN / Parcel ID 020-281-18, 33, 35, 49
Listing ID: 17979820 Date Created: 01/14/2013 Last Updated: 03/19/2014

Description

Great centrally located apartment building that has a great rental history and has close freeway access. The property consists of 2 and 3 bedroom units over 10 buildings (Four duplex units with fenced yards approximately 784 ± square feet each, one townhome style 4-plex unit with fenced yards approximately 1076 square feet each, four 4-plex units approximately 960 square feet each, and one 6-plex unit approximately 720 square feet each) and 4 separate parcels. The property has been immaculately maintained with the owner having spent well over $200,000 ± upgrading sewer line, roofs, and parking lots. The rental history has been pretty stable with several of the tenants having lived in the complex for more than 4 years.

The subject property has great freeway access from the Moana exit located off Highway 395/580. It is also close to bus stops for public transportation. It is also just a short drive to shopping, the Reno Tahoe Airport, Meadowood Mall, the Peppermill & Atlantis Hotel Casino' s, and much more.

Highlights

  • 100% occupancy with waiting list
  • Close to public transportation
  • Over $200,000 ± upgrading sewer line, roofs, and parking lots
  • Many long term tenants
  • Close freeway access

Research

3421 Neil Road, Reno, NV 89502 (Washoe County)

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