This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
197 E Grove St
Reno, NV 89502
The Lotus at Midtown · Multifamily Property For Sale
·
60 Units
PROPERTY FACTS
| No. Units | 60 | Building Size | 48,000 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1982/2005 |
| Building Class | C | Parking Ratio | 3.71/1,000 SF |
| Lot Size | 1.47 AC | ||
| Zoning | MU - Mixed Use Urban | ||
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.47 AC |
| Building Size | 48,000 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1982/2005 |
| Parking Ratio | 3.71/1,000 SF |
| Zoning | MU - Mixed Use Urban |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Walk-In Closets
- Wi-Fi
- Grill
- Linen Closet
- Vinyl Flooring
SITE AMENITIES
- Clubhouse
- Fenced Lot
- Laundry Facilities
- Playground
- Gated
ABOUT 197 E GROVE ST , RENO, NV 89502
Park Place is comprised of 60 multifamily units including 40, one-bedroom one-bath units and 20, two-bedroom two-bath units. This asset is located in the heart of the downtown core, major retail and restaurants as well as an easy one mile walk to Veteran's Memorial Elementary School. Community amenities include an on site laundry room, rental office, children's playground, community recreation room including billiards and games, on-site parking. The property is individually metered for utilities. Park Place is situated in proximity to Shopper's Square, (soon to be renamed Reno Public Market), currently home to Staples, CVS, Smart and Final, to name a few. The new Reno Public Market is set to have a $34 million remodel as it brings a locally based Brewing manufacturer and national grocery tenant. Also within walking distance are Heritage Bank and Wells Fargo. Two of Reno’s largest casino employers, The Peppermill Reno and the Atlantis Casino-Resort are in proximity while the thriving Midtown corridor and Virginia Lake is within walking distance. The University of Nevada, Reno, a Tier One University, which is rapidly growing and projects a total student population of 25,000 by the year 2020, is just 3.4 miles away while Truckee Meadows Community College is just 7 miles away. Located in proximity is the Reno-Tahoe International Airport which is only 1.3 miles away.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 40 | $750.00 | 480 - 495 |
| 2+2 | 20 | $1,200 | 765 |
