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468 Capitol Hill Ave - Capitol Hill Apartments 4 Unit Apartment Building Offered at $880,000 at a 5.68% Cap Rate Reno, NV 89502
Investment Highlights
- ?Owner occupant financing elligible
- All 1 bed units
- ?Potential for future development with MF-30 zoning
- ?Wells Ave submarket
Executive Summary
The Capitol Apartments consists of 4 total units, on a large lot with potential to build additional units. One unit is currently vacant for potential owner occupant financing but could be leased for an investor looking for a fully leased asset. Located in Reno, NV bordering both the MidTown Reno and the Wells Avenue Districts, this asset offers all 1 bed units with the potential to add additional units in the future. Units have been renovated to more modern finishes which include LVP flooring, upgraded appliances, newer countertops, lighting, kitchen and bathroom, new exterior and interior paint, pavered patios, new roofs, new windows and doors, two new furnaces as well as plumbing and electrical updates. The asset is market rate housing, located within the Wells rental submarket which offers great access to restaurants, downtown Reno, Renown Medical Center, retail centers, bus lines, and community events all just steps from their front door.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $880,000 | Lot Size | 0.20 AC |
| Price Per Unit | $220,000 | Building Size | 2,288 SF |
| Sale Type | Investment | Average Occupancy | 75% |
| Cap Rate | 5.68% | No. Stories | 1 |
| No. Units | 4 | Year Built/Renovated | 1954/2019 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | MF-30 - Zoning will allow for up to 6 units on the site. | ||
| Price | $880,000 |
| Price Per Unit | $220,000 |
| Sale Type | Investment |
| Cap Rate | 5.68% |
| No. Units | 4 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.20 AC |
| Building Size | 2,288 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built/Renovated | 1954/2019 |
| Opportunity Zone |
Yes |
| Zoning | MF-30 - Zoning will allow for up to 6 units on the site. |
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Dining Room
- Double Pane Windows
- Family Room
- Vinyl Flooring
Site Amenities
- Gas Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,120 | 520 |
| 1+1 | 2 | $1,135 | 624 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
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468 Capitol Hill Ave - Capitol Hill Apartments
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