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250 W Commercial Row
Reno, NV 89501
Townsite Studios · Hospitality Property For Sale
·
14 Rooms
Investment Highlights
- Seller Financing at 5.5% Interest With 40% Down
- Remodeled in 2022/2023
- Incredible Neonline District & Downtown Reno Submarket
- High Occupancy Asset
Executive Summary
The Townsite Studios at 250 W Commercial Row presents an opportunity to acquire a renovated multifamily/motel property in the heart of Reno’s exciting Neon Line District. This asset benefits from future upside in one of the city’s most dynamic redevelopment areas where significant investment in the nearby area is expected in the coming years. The unit mix consists of 14 units, 13 studio apartments, and 1 one-bedroom unit. A significant remodel completed in 2022–2023 brought modern updates to the units as well as a more appealing exterior. The Seller is willing to provide owner financing with 40% down at 5.5% interest—an attractive option for investors seeking better than
market financing terms.
This asset’s location in Reno, Nevada offers tenants direct asses to all of Reno’s major employers and events. The Downtown Reno submarket boasts easy access to Interstate 80 and public transportation and is just a mile west of The University of Nevada, Reno. This makes it an attractive option for tenants seeking convenience and accessibility with affordable housing options.
market financing terms.
This asset’s location in Reno, Nevada offers tenants direct asses to all of Reno’s major employers and events. The Downtown Reno submarket boasts easy access to Interstate 80 and public transportation and is just a mile west of The University of Nevada, Reno. This makes it an attractive option for tenants seeking convenience and accessibility with affordable housing options.
Property Facts
| Price Per Room | $114,286 | No. Rooms | 14 |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 6.09% | Year Built/Renovated | 1959/2022 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 2.64/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.11 AC | Opportunity Zone |
Yes
|
| Building Size | 4,164 SF | ||
| Zoning | MD-ED - Mixed Use Entertainment District | ||
| Price Per Room | $114,286 |
| Sale Type | Investment |
| Cap Rate | 6.09% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 4,164 SF |
| No. Rooms | 14 |
| No. Stories | 2 |
| Year Built/Renovated | 1959/2022 |
| Tenancy | Single |
| Parking Ratio | 2.64/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | MD-ED - Mixed Use Entertainment District |
Amenities
- Pool
- High Speed Internet Access
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 14 | $75.00 | - |
Property Taxes
| Parcel Number | 011-031-02 | Improvements Assessment | $53,369 |
| Land Assessment | $46,375 | Total Assessment | $99,744 |
Property Taxes
Parcel Number
011-031-02
Land Assessment
$46,375
Improvements Assessment
$53,369
Total Assessment
$99,744
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