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Kramer's Midtown Studios 1607 S Virginia St 21 Unit Apartment Building $2,725,000 ($129,762/Unit) 7.01% Cap Rate Reno, NV 89502
Executive Summary
DO NOT DISTURB TENANTS - CALL LISTINGS AGENTS FOR QUESTIONS OR TOUR REQUESTS
Going in CAP Rate of 7.01%
Ownership has invested over $1.8 million into the asset
Private Financing Options Available
High Rent Growth Market
Priced Significantly Below Replacement Cost
Prime MidTown Location - Walking Distance to Restaurants, Boutiques, & Nightlife
Going in CAP Rate of 7.01%
Ownership has invested over $1.8 million into the asset
Private Financing Options Available
High Rent Growth Market
Priced Significantly Below Replacement Cost
Prime MidTown Location - Walking Distance to Restaurants, Boutiques, & Nightlife
Property Facts
| Price | $2,725,000 | Building Class | B |
| Price Per Unit | $129,762 | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 11,200 SF |
| Cap Rate | 7.01% | Average Occupancy | 100% |
| No. Units | 21 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.96/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MU-MC - MU-MC - RENO - MIXED-USE MIDTOWN COMMERCIAL | ||
| Price | $2,725,000 |
| Price Per Unit | $129,762 |
| Sale Type | Investment |
| Cap Rate | 7.01% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.45 AC |
| Building Size | 11,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1950/2022 |
| Parking Ratio | 1.96/1,000 SF |
| Zoning | MU-MC - MU-MC - RENO - MIXED-USE MIDTOWN COMMERCIAL |
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Patio
Site Amenities
- Clubhouse
- Laundry Facilities
- Pool
- Grill
- Wi-Fi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | - | 275 - 375 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 014-251-16 | Improvements Assessment | $107,492 |
| Land Assessment | $216,899 | Total Assessment | $324,390 |
Property Taxes
Parcel Number
014-251-16
Land Assessment
$216,899
Improvements Assessment
$107,492
Total Assessment
$324,390
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Kramer's Midtown Studios | 1607 S Virginia St
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