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- LoopNet Team
61 S Park St
Reno, NV 89502
Park Villa Apartments · Multifamily Property For Sale
·
13 Units
INVESTMENT HIGHLIGHTS
- Value Add Opportunity
- Close to Greater Nevada Field Home of the Reno Aces and 1868 FC
PROPERTY FACTS
| No. Units | 13 | Building Size | 4,576 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 1.31/1,000 SF |
| Lot Size | 0.16 AC | ||
| Zoning | MD-RD | ||
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,576 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.31/1,000 SF |
| Zoning | MD-RD |
ABOUT 61 S PARK ST , RENO, NV 89502
The Park Villa Apartments is located in the center of Reno, Nevada, on Park St between E 2nd and Mill St. The property is only a short distance to Greater Nevada Field home of the Reno Aces and 1868 FC, Truckee River, and Renown Medical Center. There are plenty of activities surrounding the property from small concert venues, local breweries, and restaurants. The Park Villa Apartments offers 12 studio units with one full bathroom and one bedroom one bathroom unit. It also has direct access to transit lines off both E 2nd and Mill St. The property is situated within a federally designated opportunity zone, which entails preferential tax treatment. Seller also has for sale 195 W 2nd Street and Seller is open to a portfolio sale or can sell it individually. Listed at a 5.63% cap on 2019 actual financials.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | $775.00 | 320 |
| 1+1 | 1 | $700.00 | 500 |
PROPERTY TAXES
| Parcel Number | 012-112-05 | Improvements Assessment | $57,127 |
| Land Assessment | $48,388 | Total Assessment | $105,514 |
PROPERTY TAXES
