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99 Bartlett St 3 Unit Apartment Building $725,000 ($241,667/Unit) 6% Cap Rate Reno, NV 89512
Investment Highlights
- Minutes to the University of Nevada Reno
- RV Parking and Hookups
- Fully Remodeled, Modern Finishes
Executive Summary
Opportunity to own two units with a bonus detached living space that could be used to generate additional income utilizing the space as a rental, short-term rental, or owner occupier, multi-gen living, or an art studio. 5.85% cap rate with in place rents on the two units, more income easily attainable by renting the separate studio unit. The property has been meticulously maintained, with recent HVAC servicing, and jetted sewer line. The main house is 2 beds, 1 bath and 828 sqft. The garage has been converted into a modern and efficient studio that has very little vacancy. The detached bonus unit is a cleverly designed studio space with its own HVAC and water heater. There is an attached RV pad with full hookups that historically brings in additional income. The property is within minutes to the University of Nevada Reno campus and there are parking spaces for 6, with dedicated City of Reno passes. Property is tenant occupied, please do not disturb the tenants.
Property Facts
| Price | $725,000 | Apartment Style | Garden |
| Price Per Unit | $241,667 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 1,253 SF |
| Cap Rate | 6% | No. Stories | 1 |
| No. Units | 3 | Year Built | 1948 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | SF8 | ||
| Price | $725,000 |
| Price Per Unit | $241,667 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.19 AC |
| Building Size | 1,253 SF |
| No. Stories | 1 |
| Year Built | 1948 |
| Opportunity Zone |
Yes |
| Zoning | SF8 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Yard
- Dining Room
- Double Pane Windows
- Family Room
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 225 - 275 |
| 2+1 | 1 | - | 828 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 007-061-09 | Improvements Assessment | $13,301 |
| Land Assessment | $30,660 | Total Assessment | $43,961 |
Property Taxes
Parcel Number
007-061-09
Land Assessment
$30,660
Improvements Assessment
$13,301
Total Assessment
$43,961
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99 Bartlett St
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