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- LoopNet Team
195 W 2nd St
Reno, NV 89501
The Olympic Apartments · Multifamily Property For Sale
·
20 Units
INVESTMENT HIGHLIGHTS
- New Roof Completed January 2020
- Walkable to the Riverwalk District
- Borders the Neon Line District in Downtown Reno
- Easy to Lease Units
PROPERTY FACTS
| No. Units | 20 | Building Size | 8,041 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1959 |
| Building Class | C | Tenancy | Single |
| Lot Size | 0.17 AC | Parking Ratio | 0.75/1,000 SF |
| Zoning | MD-ED | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,041 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Tenancy | Single |
| Parking Ratio | 0.75/1,000 SF |
| Zoning | MD-ED |
ABOUT 195 W 2ND ST , RENO, NV 89501
The Olympic Apartments are located in the center of Reno, Nevada at W. 2nd St. and West St. The property is perfectly situated a few blocks from the downtown corridor of N. Virginia St., Truckee River, restaurants, and public entertainment. There are plenty of activities surrounding the property from outdoor art shows and concerts to the new Neon Line development that plans to feature both art and entertainment. The Olympic Apartments offers studio units with one full bathroom and direct access to transit lines and downtown. Several unit rents are well below market and have big upside with potential in unit renovation. The property is situated within a federally designated opportunity zone, which entails preferential tax treatment. Seller also has for sale 61 Park Street and Seller is open to a portfolio sale or it can be sold individually.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 20 | $792.50 | 402 |
PROPERTY TAXES
| Parcel Number | 011-032-18 | Improvements Assessment | $110,224 |
| Land Assessment | $176,400 | Total Assessment | $286,624 |
PROPERTY TAXES
