255-267 Vassar St
Reno, NV 89502
Land For Sale · 0.32 AC

255 Vassar-Residential Property is 720 sq. ft., 2 bed/1 bath that has been updated with brand new kitchen, new bathroom, new SS appl's, and updated plumbing. 267 Vassar-Commercial Property is 720 sq. ft.. Property has refinished hardwood flrs, coved ceilings, and very open floor plan. The 2 Lots measure a combined 13,504 sq. ft., with additional alley access. Current plans in development call for 6 additional units The units will be 640-680 sq. ft., and a mix of 2/1 and 2/2. Each unit will also have their own private yard as well as a residential picnic area. This is seller's current plans, however, buyers should speak with City as a higher density may be allowed on the properties fully utilizing it's potential. Highlights: * Midtown location * Located inside the Federal Opportunity Zone * Includes Residential Rental Property & Commercial Rental Properties Agents and buyers to verify all information to their satisfaction. Including Federal Opportunity Zone. Additional notes: Opportunity Zone allows for the permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in an Opportunity Zone if the investment is held for at least 10 years. This exclusion only applies to gains accrued after an investment in an Opportunity Zone. 255 Vassar is rented for $1500/month through 3/31/19. 267 Vassar is rented for $900/month on a month to month lease. Could easily convert back to residential and charge $1600/month. The new build units have an expected rent of $1600-$1700/month.