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The Point Midtown 1901 S Virginia St 117 Unit Apartment Building For Sale Reno, NV 89502
INVESTMENT HIGHLIGHTS
- Located in downtown/MidTown is close to Highway 395/I-580
EXECUTIVE SUMMARY
NOW STABILIZED.
Call for UPDATED pricing guidance.
NAI Alliance is pleased to present this major re-positioning by Repvblik Development Group, with multifamily compliant upgrades to electrical, plumbing, and life-safety systems. This project is designed to accommodate Reno’s enormous demand for workforce housing, and as such, these newly remodeled studios are priced affordably and are filling up fast, expected to reach stabilization this spring.
Prior to the total renovation, the subject property was originally a two-story motel built in 1966. The building is ±33,288 square feet, situated on ±1.897 acres zoned Mixed-Use Urban.
1901 S Virginia Street is in downtown/MidTown is close to Highway 395/I-580. Assessor’s Parcel Number is 019-051-15. The highly visible and easily accessible locations feature 117 rehabilitated studio apartments.
There are currently 6 similar properties on the market within 10 miles distance of the Subject Property.
Call for UPDATED pricing guidance.
NAI Alliance is pleased to present this major re-positioning by Repvblik Development Group, with multifamily compliant upgrades to electrical, plumbing, and life-safety systems. This project is designed to accommodate Reno’s enormous demand for workforce housing, and as such, these newly remodeled studios are priced affordably and are filling up fast, expected to reach stabilization this spring.
Prior to the total renovation, the subject property was originally a two-story motel built in 1966. The building is ±33,288 square feet, situated on ±1.897 acres zoned Mixed-Use Urban.
1901 S Virginia Street is in downtown/MidTown is close to Highway 395/I-580. Assessor’s Parcel Number is 019-051-15. The highly visible and easily accessible locations feature 117 rehabilitated studio apartments.
There are currently 6 similar properties on the market within 10 miles distance of the Subject Property.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 1.90 AC |
| Sale Condition | Redevelopment Project | Building Size | 117,000 SF |
| No. Units | 117 | Average Occupancy | 87% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2024 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | Commercial - 117 unit Multi-Family | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 117 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.90 AC |
| Building Size | 117,000 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built | 2024 |
| Opportunity Zone |
Yes |
| Zoning | Commercial - 117 unit Multi-Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Pool
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 117 | - | 202 - 421 |
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 019-051-15 | Improvements Assessment | $501,409 |
| Land Assessment | $1,146,600 | Total Assessment | $1,648,009 |
PROPERTY TAXES
Parcel Number
019-051-15
Land Assessment
$1,146,600
Improvements Assessment
$501,409
Total Assessment
$1,648,009
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The Point Midtown | 1901 S Virginia St
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