2150 Victorian Ave Sparks, NV 89431-4129

This exceptional 23-unit apartment complex, known as Sparks Studios, presents a compelling investment opportunity. Located at 2150 Victorian Ave, Sparks, NV 89431, this multifamily property boasts a total of 5,089 square feet situated on a 0.52-acre lot. Built in 1943 and extensively renovated in 2021, the property comprises two one-story buildings and offers a mix of studio and one-bedroom units ranging from 220 to 400 square feet. The property features on-site laundry facilities and ample parking. Adding to its unique appeal are three rentable travel trailers, currently generating $1,300 each per month and operating with a waiting list, and five fully furnished units dedicated to short-term rentals, providing additional revenue streams. Recent renovations include a new roof, water heaters, electrical upgrades, gas and sewer line repairs, new flooring, paint, and kitchenettes. The property's strong financial performance is reflected in its $2,800,000 asking price, a $550.21 price per square foot, a 7.90% cap rate, and a net operating income (NOI) of $221,104. The property is zoned MUD and has a Washoe County APN of 032-023-06. Seller financing is available. Detailed financial information, including a rent roll, is available upon request. This property offers a blend of stable long-term rental income and the potential for increased revenue through short-term rentals and the unique travel trailer units. The convenient Sparks location near Victorian Square provides easy access to amenities and public transportation.