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475 E Cedar St
Fernley, NV 89408
Cedar Apartments · Multifamily Property For Sale
·
32 Units
PROPERTY FACTS
| No. Units | 32 | Lot Size | 1.58 AC |
| Property Type | Multifamily | Building Size | 19,392 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Garden | No. Stories | 1 |
| Building Class | B | Year Built | 2001 |
| Zoning | NR2 - MF30 (Five of More Units) Low Rise | ||
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.58 AC |
| Building Size | 19,392 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2001 |
| Zoning | NR2 - MF30 (Five of More Units) Low Rise |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Ceiling Fans
- High Speed Internet Access
- Carpet
- Wi-Fi
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
ABOUT 475 E CEDAR ST , FERNLEY, NV 89408
Located in a quiet residential area of Fernley, these 32 one-bedroom apartments are an excellent option for incoming employees. One-bedroom apartments in Fernley are a rare and affordable alternative to the more available two-bedroom units. The current story in Fernley is intense job growth fueled by nearby Tesla and other corporations in the Tahoe Reno Industrial Center creating thousands of jobs for Reno, Fernley and Carson City. In contrast, Fernley’s Cedar Apartments is actually closer to Tesla’s Gigafactory than either Reno or Sparks. Northern Nevada is experiencing a severe housing shortage. Don’t miss this opportunity to own a sizeable complex in the heart of an area with massive industrial growth. This offering focuses on a pro forma cap rate analysis. It is our opinion that Cedar Apartments could lease out at $950 per unit today and into the future based on comps and supply/demand. We have included a breakdown of how this works to achieve a 5% cap rate.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 32 | $882.50 | 506 |
PROPERTY TAXES
| Parcel Number | 020-102-12 | Improvements Assessment | $399,024 |
| Land Assessment | $56,000 | Total Assessment | $455,024 |
PROPERTY TAXES
