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400 University Terrace 400 University Ter 16 Unit Apartment Building $1,985,000 ($124,063/Unit) Reno, NV 89503
INVESTMENT HIGHLIGHTS
- Offered free and clear
- Priced well below replacement costs at $105,000 per unit and $351 per square foot
- Interiors boast private studio units with bathrooms, private balconies or patios
- Class A location is just blocks away from the University of Nevada, Reno campus
- Vacant Land adjacent (0.200 acres) is included in the sale
- Each quad configuration offers a fully shared kitchen and living room area
EXECUTIVE SUMMARY
Located in a prime University location, 400 University Terrace is a 16-unit boutique student living opportunity located just blocks away from the University campus. Built in 2008, the asset offers private studio apartments with private bathrooms, private balconies or patios. Each four-bedroom configuration offers a full (shared) kitchen, living room area, and washer and dryer. Community amenities offer carports, mature landscaping and scenic views of downtown Reno.
Multi Family price $1,680,000 (5.24% cap rate)
Land Price $305,000
Total Combined Price: $1,985,000
The sale of this asset includes the (0.200 acre) vacant land immediately adjacent to the property.
Website: www.400universityterrace.com/
Multi Family price $1,680,000 (5.24% cap rate)
Land Price $305,000
Total Combined Price: $1,985,000
The sale of this asset includes the (0.200 acre) vacant land immediately adjacent to the property.
Website: www.400universityterrace.com/
PROPERTY FACTS
| Price | $1,985,000 | Apartment Style | Low-Rise |
| Price Per Unit | $124,063 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Gross Rent Multiplier | 11.34 | Building Size | 4,784 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2008 |
| Property Subtype | Apartment | ||
| Zoning | MF30 - Zonig Code: MF 30 | ||
| Price | $1,985,000 |
| Price Per Unit | $124,063 |
| Sale Type | Investment |
| Gross Rent Multiplier | 11.34 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,784 SF |
| No. Stories | 2 |
| Year Built | 2008 |
| Zoning | MF30 - Zonig Code: MF 30 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Views
- Wi-Fi
- Breakfast Nook
- Patio
- Smoke Free
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- Individual Locking Bedrooms
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | $722.50 | 300 |
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Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 007-201-37 | Improvements Assessment | $190,598 |
| Land Assessment | $65,730 | Total Assessment | $256,328 |
PROPERTY TAXES
Parcel Number
007-201-37
Land Assessment
$65,730
Improvements Assessment
$190,598
Total Assessment
$256,328
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400 University Terrace | 400 University Ter
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