858 Gentry Way
Reno, NV 89502
South 40-Mix Use 7 SFR & 10 MH Sites · Multifamily Property For Sale · 7,627 SF

The South 40 is a mixed use Single Family and Mobile Home Rental Community located in Reno, Nevada at 858 Gentry Way, one block north of the intersection of Kietzke Lane and East Moana Lane. The property is in a diverse neighborhood consisting of commercial, multi-family, single family residential and mobile home parks. The location offers easy access to the freeway (395) to the east and South Virginia Street to the west which is a main corridor to Midtown/Downtown Reno. The property consists of a four-bedroom, 2.5 bath, 2,487 Sqft single family residence (1972) and six 2-bedroom 1 bath single family residences ranging from 786 Sqft to 948 Sqft, built in 1945. There are ten (10) mobile home sites that consists of eight (8) single wide mobile homes and two (2) double wide mobile homes. There is one park owned travel trailer (DMV Titled) on a single wide site #3 which is rented to a long-term tenant. The park owned travel trailer is included in the sales price and will be transferred from the Seller to the Buyer on the 610-form required by NRS at the close of escrow. The transfer of the travel trailer will be conducted between the principals outside of escrow. The dual sided advertising bill board is leased from the Seller by Lamar Advertising Corporation and is not for sale in this transaction. A copy of the lease and access easements will be provided in the due diligence. The property has all city services and the gas/electric is directly billed to each home and mobile home site. The water, trash and sewer are included in the resident’s rent. There are seven heating oil tanks on the property and one tank still services the 4-bedroom house at 858 Gentry Way, which does not have natural gas. The other six tanks at 860, 862, 864, 878, 882 & 884 are not in use and natural gas has been installed. There has been no investigation of any potential contamination during the Sellers ownership. The single-family residences have fenced yards and have off-street parking for a minimum of two cars. The mobile home sites have off-street parking for a minimum of two cars. There are four (4) parking spaces in front of 858 Gentry Way used by the tenants in the home. Most MH sites have a minimum of 2 parking places, except for #13 which has 1. The road surfaces are asphalt and in good condition. There are several speed bumps in place and some pole mounted overhead lighting. The property was recently converted from flat rate water billing to a master water meter in May of 2019. The Seller estimates the water bill at approximately $600 per month. The community is well maintained and has a low turnover rate in the SFRs and mobile home sites. There is a mature tree canopy and all of the stick-built homes have lawns. The driveways at each unit or site are road base. The interiors of the homes have been upgraded upon turnover.