130 Chism St
Reno, NV 89503
Chism Street Apartments · Multifamily Property For Sale · 10 Units

The Chism Apartments are an opportunity to acquire a stabilized asset that is a short distance to the Reno Riverwalk District. The property consists of 8 studio units and 2 one bedroom one bath units. The current lease structures have the tenants paying their base rent and reimburse Seller for gas, electric, sewer, water, and trash. The current owner has also done an extensive amount of remodeling and some of the unit improvements vary by unit but include new appliance, new ?ooring, new vanities, and much more. Several major capital improvements have also been made which include new roof and sub roof, re-bore entire sewage system, new electrical sockets and GFI in all units, and new interior plumbing replacing copper pipes. All water heaters were replaced between 2014-2015 and all furnaces were overhauled in 2017. With these improvements, repairs and maintenance should be minimal in the coming years. There is also ample parking with 12 on site spaces and additional street parking. By November 2018, all studio units will be leased at a base rent of $650 per month and all one-bedroom units will be leased at a base rent of $775 per month. This is a great opportunity to invest in a growing market with extremely high demand for housing.