The Flats at Locust St
Stabilized 6-Units in the MidTown/Wells Submarket
Marketing description
The Flats at Locust St consists of 6 total units, on a large lot, within the Wells Avenue District just east of MidTown Reno. The unit mix consists of 5 one bedroom 1 bath units and 1 three bedroom 1.5 bath unit. Most units have their own fenced yard area and all units have in unit washer/dryer hookups. Tenants pay gas and electric and a flat rate reimbursement for sewer, water, and trash. The asset offers affordable work force housing, located within the Wells rental submarket which offers great access to restaurants, downtown Reno, Renown Medical Center, retail centers, bus lines, and community events all just steps from their front door. The property is a short distance to the Reno Public Market which is one of Reno’s most popular retail shopping areas with many food choices and also has many entertainment options. This can also be sold in a portfolio sale with 210 Claremont St which is 6-unit multifamily opportunity in the nearby MidTown/Wells submarket and also listed for sale.
360 tour of unit 1508 here: https://mls.ricoh360.com/7ab7bd64-5299-4e98-b3e2-06be401abb7b
Investment highlights
- In-Unit Laundry Hook Up
- The Wells Avenue District
- Upside in the rents
- Diverse Unit Mix
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