1400 Stardust StReno, NV 89503

This exceptional multifamily investment opportunity comprises two apartment buildings totaling 241 units, situated on approximately 1.9 to 1.96 acres in prime Reno, Nevada locations: 1400 Stardust St, 89503 and 1901 S Virginia St, 89502. The portfolio boasts a combined net rentable square footage of 65,688 square feet, spread across 32,400 to 33,288 total square feet. Built between 1966 and 1974, and extensively renovated in 2023, these properties offer a compelling blend of established tenancy and modern upgrades. The buildings are two stories each, zoned GC (General Commercial) and MU (Mixed-Use Urban), providing flexibility for future development. The current asking price is $42,000,000, representing a price per unit of $174,273.86 and a price per square foot of $639.39. The portfolio generates a substantial net operating income (NOI) of $2,266,605, yielding an attractive 5.40% capitalization rate. Parcel numbers are 006-151-06 and 019-051-15, located in Washoe County. This is a rare opportunity to acquire a well-performing, established multifamily portfolio in a growing Reno market.