Fourth Street Apartments 2241 E 4th St 26 Unit Apartment Building $2,275,000 ($87,500/Unit) Reno, NV 89512
INVESTMENT HIGHLIGHTS
- Suitable for hospitality, medical, nonprofit, or government redevelopment.
- 26 rooms with steady income and upgrade potential.
- Opportunities to improve interiors and curb appeal.
EXECUTIVE SUMMARY
2241 E 4th St, Reno, NV 89512
This 26-room property, offered at $2,275,000 ($87,500 per room), provides steady income with potential for value-add improvements. Its layout and central location make it an excellent candidate for redevelopment for hospitality, medical, nonprofit, or government use.
Property Highlights
- Layout: 26 guest rooms catering to short-term and extended-stay tenants.
- Redevelopment Potential: Suitable for conversion into a medical, nonprofit, or government facility.
- Income: Consistent cash flow with opportunities for operational improvements.
- Upside: Potential for interior and exterior upgrades to enhance profitability.
Strategic Location
- Located on Reno’s 4th Street corridor, a growing area with revitalization efforts underway.
- Proximity to downtown Reno, University of Nevada Reno (UNR), and major transportation routes ensures steady demand.
- Close to dining, entertainment, and retail amenities, supporting consistent occupancy.
- Well-positioned to capitalize on Reno’s economic growth and increased tourism activity.
This 26-room property, offered at $2,275,000 ($87,500 per room), provides steady income with potential for value-add improvements. Its layout and central location make it an excellent candidate for redevelopment for hospitality, medical, nonprofit, or government use.
Property Highlights
- Layout: 26 guest rooms catering to short-term and extended-stay tenants.
- Redevelopment Potential: Suitable for conversion into a medical, nonprofit, or government facility.
- Income: Consistent cash flow with opportunities for operational improvements.
- Upside: Potential for interior and exterior upgrades to enhance profitability.
Strategic Location
- Located on Reno’s 4th Street corridor, a growing area with revitalization efforts underway.
- Proximity to downtown Reno, University of Nevada Reno (UNR), and major transportation routes ensures steady demand.
- Close to dining, entertainment, and retail amenities, supporting consistent occupancy.
- Well-positioned to capitalize on Reno’s economic growth and increased tourism activity.
PROPERTY FACTS
| Price | $2,275,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 6,756 SF |
| No. Stories | 1 |
| Year Built | 1938 |
| Parking Ratio | 4/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | MU |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Security System
- Sprinkler System
- Tub/Shower
- Patio
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Public Transportation
- Individual Locking Bedrooms
- Smoke Detector
1 of 1
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 008-215-03 | Improvements Assessment | $75,556 |
| Land Assessment | $71,846 | Total Assessment | $147,402 |
