Value-Add Apartment
For Sale
Contact for pricing
9401 Lemmon Dr, Reno, NV 89506
For sale apartment portfolio totaling 141 units across multiple properties, including additional 55 units near the University of Nevada, Reno.
Property SizeContact for details
Days on Market124
Property Features for 9401 Lemmon Dr
General Information
Standard status
Active
Property subtype
Multifamily
Listing Agency:
Marcus & Millichap - Reno
Listed By:
Ryan Rife · License #NV: S.0170980
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 23 at 4:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Reno
Investment Insights
Based on property information with market context.
This for-sale apartment portfolio offers multiple residential income assets, including the Vale Apartments, Vale Townhomes, and Peavine Peak, with an additional opportunity to acquire the Oak Manor & Angel Street Apartments. The portfolio totals 141 units across the combined properties, with the Oak Manor & Angel Street Apartments representing an additional 55 units near the University of Nevada, Reno.
The bulk of the Reno portfolio is positioned in the North Valleys submarket, where logistics, warehousing, and manufacturing employers play a significant role. The remarks cite major employers in the submarket such as Amazon, JC Penney, General Motors, and Petco, along with broader regional job growth attributed to companies including Tesla, Apple, Google, Amazon, Blockchain LLC, Switch Digital, and Panasonic.
The property also points to the Tahoe-Reno Industrial Center (TRI Center) as a nearby employment hub, described as just a short drive from the portfolio. The offering is presented as a value-add opportunity, with potential for operational improvement through utility reimbursement programs and rent optimization software, along with additional ancillary income streams.
The bulk of the Reno portfolio is positioned in the North Valleys submarket, where logistics, warehousing, and manufacturing employers play a significant role. The remarks cite major employers in the submarket such as Amazon, JC Penney, General Motors, and Petco, along with broader regional job growth attributed to companies including Tesla, Apple, Google, Amazon, Blockchain LLC, Switch Digital, and Panasonic.
The property also points to the Tahoe-Reno Industrial Center (TRI Center) as a nearby employment hub, described as just a short drive from the portfolio. The offering is presented as a value-add opportunity, with potential for operational improvement through utility reimbursement programs and rent optimization software, along with additional ancillary income streams.
Key Highlights
- Apartment portfolio for sale with 141 total units across multiple properties
- Includes Vale Apartments, Vale Townhomes, and Peavine Peak
- Additional purchase option of Oak Manor & Angel Street Apartments with 55 units near the University of Nevada, Reno
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 89506, NV
43,321
Population
17,015
Households
2.5
Avg Household Size
35
Median Age
20%
College-Educated
86%
High-School Grad
91.1 sq mi
ZIP Area
476
Density / Sq Mi
$86,557
Median Household Income
$42,481
Median Earnings
$1,733
Median Rent
$377,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - For sale apartment portfolio totaling 141 units across multiple properties, including additional 55 units near the University of Nevada, Reno.
Where is this multifamily property located?
The property is located at 9401 Lemmon Dr Reno, NV.
What are key features of this property?
This property features: Apartment portfolio for sale with 141 total units across multiple properties; Includes Vale Apartments, Vale Townhomes, and Peavine Peak; Additional purchase option of Oak Manor & Angel Street Apartments with 55 units near the University of Nevada, Reno
