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    1901 South Virginia St Reno, NV 89502

    For Sale
    $42,000,000

    Multifamily property with compliant upgrades, designed for workforce housing.

    Property size:
    65,688 SF

    Property Features for 1901 South Virginia St

    General Information

    Size
    65,688 SF

    Source: Brian Egan, CCIM Agent Brian Egan, CCIM

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Repositioning Opportunity in Reno

    This multifamily property, undergoing a major repositioning by Repvblik Development Group, features upgrades to electrical, plumbing, and life-safety systems to meet multifamily standards. Designed to address Reno’s high demand for workforce housing, the newly remodeled studios are priced affordably. Construction is scheduled for completion in early October 2023, and pre-leasing has already commenced. The property is located in the downtown/MidTown area, with convenient access to Highway 395/I-580. The property size is 65688 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Point at Midtown Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Building Supply Nail Salon Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8040548
    Latitude
    39.5053988

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property with compliant upgrades, designed for workforce housing.
    Where is this apartment building located?
    The property is located at 1901 South Virginia St Reno, NV.
    What is the asking price?
    The asking price for this property is $42,000,000.
    What are key features of this property?
    This property features: - Newly remodeled studios designed for workforce housing, addressing Reno's high demand.; - Affordably priced studios expected to fill up quickly.; - Multifamily compliant upgrades to electrical, plumbing, and life-safety systems.
    (775) 250-5001
    Request Owner's contact information
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    Reno, NV 89502
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1901 South Virginia St Reno, NV 89502
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