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130 Chism St
Reno, NV 89503
Chism Street Apartments · Multifamily Property For Sale
·
10 Units
PROPERTY FACTS
| No. Units | 10 | Lot Size | 0.19 AC |
| Property Type | Multifamily | Building Size | 4,188 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1960/2018 |
| Building Class | B | Parking Ratio | 2.87/1,000 SF |
| Zoning | CC | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 4,188 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2018 |
| Parking Ratio | 2.87/1,000 SF |
| Zoning | CC |
ABOUT 130 CHISM ST , RENO, NV 89503
The Chism Apartments are an opportunity to acquire a stablized 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 flooring, 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. This is a great opportunity to invest in a growing market with extremely high demand for housing. According to the 3rd quarter 2018 Johnson Perkins Griffin apartment survey, the average vacancy in the Northwest Reno submarket is 3.57%.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | $687.50 | 380 |
| 1+1 | 2 | $875.00 | 570 |
PROPERTY TAXES
| Parcel Number | 010-042-08 | Improvements Assessment | $42,994 |
| Land Assessment | $84,875 | Total Assessment | $127,869 |
PROPERTY TAXES
