Listed by CBRE Reno, CBRE - Reno
$1,475,000
Gypsum Eight
Details
APN 003-236-04
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,408
Units 8
Cap Rate 5.77%
NOI $85,114
Occupancy 100%
Tenancy Multi
Rent Bumps No
Pro-Forma Cap Rate 6.62%
Pro-Forma NOI $97,677
Price per SqFt $273
Class B
Year Built 1979
Stories 2
Acreage 0.240
Zoning MF30
Reno, NV | 8 Units | 2 Bed 1 Bath
Marketing description
The Gypsum Eight features 2 four-plex buildings with a total of 8 units that are all two bedrooms and one bathroom with approximately 676 sq ft. The property is located in Reno, NV with excellent access to Highway 395, The University of Nevada, Reno, Truckee Meadows Community College, and the McCarran Blvd main thoroughfare, making commuting easy for residents. The exteriors feature on-site laundry and assigned, on-site parking. The interior finishes vary by unit but most feature granite countertops, white shaker cabinets, stainless steel appliances, modern lighting, subway tile bathrooms, newer HVAC units, and LVP flooring. Some tenants do currently pay utility reimbursements and there is upside to implementing that on all units.
Investment highlights
- Stabilized Asset
- Near UNR and TMCC
- Renovated Units
- All 2 bed units
Listing Contacts
Listed by CBRE Reno, CBRE - Reno
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$85,114.00
$7,092.83/mo
Valuation Metrics
0
DSCR
5.77%
Cap Rate
5.77%
ROI
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