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2908 Salem Pl
Reno, NV 89509
Multifamily Property For Sale
·
6 Units
EXECUTIVE SUMMARY
2908 Salem Place
Welcome to this versatile six-unit property in the highly sought-after Virginia Lake neighborhood of Reno. This value-add investment presents a prime opportunity for investors to generate immediate cash flow while unlocking significant upside potential through strategic renovations. As identified in the income statement and marketing package, the current owner has invested significantly in property upgrades.
The building comprises six individual rental units, each offering stable income and ample natural light. With spacious layouts and strong renovation potential, these units provide an excellent foundation for modern updates that can enhance tenant appeal and maximize rental revenue.
Ideally situated just minutes from premier dining, shopping, and entertainment, the property also offers convenient access to major roadways and public transportation—placing it in a thriving and appreciating market. Whether your goal is to update interiors or improve operational efficiency, this property presents a wealth of opportunities to increase both value and returns.
Additional Information:
• 100% leased property
• Do not disturb tenants. All offers should be made contingent on a property walkthrough.
• This property can be sold as part of a package with 755 Moran Street and 760 Balzar Circle.
• Buyer and buyer’s agent to verify all information.
• Escrow has been pre-opened—please contact the listing agent for details.
For more information, please reach out to the listing agent. This property is co-listed through the following Brokerages:
Henry Huang Kurt Okraski
Sierra Nevada Properties-Reno M&A Business Advisors
Realtor, Property Manager Managing Partner
NRED: S.176961/PM.166425 NRED: B.1002860/BUSB.7078
Cell: 775-525-1325 Cell: 775-203-0083
Email: henry@snphomes.com Email: kurt@mabusinessadvisors.com
Welcome to this versatile six-unit property in the highly sought-after Virginia Lake neighborhood of Reno. This value-add investment presents a prime opportunity for investors to generate immediate cash flow while unlocking significant upside potential through strategic renovations. As identified in the income statement and marketing package, the current owner has invested significantly in property upgrades.
The building comprises six individual rental units, each offering stable income and ample natural light. With spacious layouts and strong renovation potential, these units provide an excellent foundation for modern updates that can enhance tenant appeal and maximize rental revenue.
Ideally situated just minutes from premier dining, shopping, and entertainment, the property also offers convenient access to major roadways and public transportation—placing it in a thriving and appreciating market. Whether your goal is to update interiors or improve operational efficiency, this property presents a wealth of opportunities to increase both value and returns.
Additional Information:
• 100% leased property
• Do not disturb tenants. All offers should be made contingent on a property walkthrough.
• This property can be sold as part of a package with 755 Moran Street and 760 Balzar Circle.
• Buyer and buyer’s agent to verify all information.
• Escrow has been pre-opened—please contact the listing agent for details.
For more information, please reach out to the listing agent. This property is co-listed through the following Brokerages:
Henry Huang Kurt Okraski
Sierra Nevada Properties-Reno M&A Business Advisors
Realtor, Property Manager Managing Partner
NRED: S.176961/PM.166425 NRED: B.1002860/BUSB.7078
Cell: 775-525-1325 Cell: 775-203-0083
Email: henry@snphomes.com Email: kurt@mabusinessadvisors.com
PROPERTY FACTS
| Price Per Unit | $216,333 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 4,020 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | MF30 | ||
| Price Per Unit | $216,333 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 4,020 SF |
| No. Stories | 3 |
| Year Built | 1978 |
| Parking Ratio | 1.49/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MF30 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $1,095 | - |
| 2+1 | 4 | $1,175 | - |
PROPERTY TAXES
| Parcel Number | 019-431-14 | Improvements Assessment | $52,544 |
| Land Assessment | $86,485 | Total Assessment | $139,029 |
PROPERTY TAXES
Parcel Number
019-431-14
Land Assessment
$86,485
Improvements Assessment
$52,544
Total Assessment
$139,029
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