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237 Linden St
Reno, NV 89502
237 Linden St · Multifamily Property For Sale
·
20 Units
PROPERTY FACTS
| No. Units | 20 | Building Size | 13,496 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1972/2016 |
| Building Class | C | Parking Ratio | 1.48/1,000 SF |
| Lot Size | 0.46 AC | ||
| Zoning | MUSV | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 13,496 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2016 |
| Parking Ratio | 1.48/1,000 SF |
| Zoning | MUSV |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Refrigerator
- Oven
SITE AMENITIES
- Laundry Facilities
ABOUT 237 LINDEN ST , RENO, NV 89502
20-unit Garden/Low Rise Apartment Building. The property consists of sixteen 2-bed 1-bath units and four 1-bed 1-bath units. All 2-bed units are 728sf and feature central heat, central A/C, and 2 walk in closets. All 1-bed units are 384sf and feature heating and A/C with a walk-in closet. The property sits on a 0.46 AC lot, and the total building size is 13,496 sf. With a total of 20 parking spaces. The current owners purchased the property in 2013 as a distressed property. Since then they have made significant improvements to the property. Although rent for many of the units has been increased over the years, current rents are still well below market rates and could be raised to substantially increase your bottom line. Capital Improvements Completed since 2014: New roof ·Pool infill, central courtyard created ·Units renovated ·New central building water heater ·New LED exterior lighting ·Security camera system added ·HVAC replacements: 9 furnaces, 8 A/C units ·Over 50% of windows replaced ·4 new sliding glass doors ·Exterior painted · Master lock system installed ·New exterior signage Buyer to verify all information. Do not disturb tenants, drive by only. Economic Overview: Our region is currently experiencing rapid increases in employment and is expected to see an annual 2% growth in population through 2019. With lack of new development, rental rates and existing property values have begun to increase, and are expected to continue continue to increase for the next 3-5 year at a minimum. Listed CAP Rate and GRM is based on Avg. Market rents for the area and represents property potential income. Listed CAP Rate and GRM is based on Avg. Market rents for the area and represents property potential income. current Cap rate is 7.01 and current GRM is 9.47 Adjusted 2016 Income statement is available with a completed confidentiality agreement (attached to listing). Any additional document requests to be part of due diligence period in your buyer's offer.
PROPERTY TAXES
| Parcel Number | 020-022-26 | Improvements Assessment | $136,453 |
| Land Assessment | $154,000 | Total Assessment | $290,453 |
PROPERTY TAXES
