840 Arlington Ave Reno, NV 89509
- Commercial real estate
- 2,649 SF
- 0.12 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 840 Arlington Ave
- Year built
- 1936
- Lot size
- 0.12 lot acres
- Property size
- 2,649 SF
- Property type
- Commercial real estate
- APN
- 001-262-19, 001-262-18, 011-262-16
Description
This exceptional 11-unit apartment building portfolio in Reno, Nevada's desirable Old Southwest neighborhood, presents a compelling investment opportunity. Priced at $3,200,000, this property boasts a 5.50% cap rate and a pro-forma NOI of $176,000. Comprising three adjacent buildings (two four-plexes and one triplex) totaling 2,649 square feet on a 0.12-acre lot, the property features updated plumbing, electrical, roofing, and mechanical systems, along with added laundry facilities. Built between 1922 and 1942, these buildings showcase classic architecture and comfortable living spaces. The property benefits from its prime location, offering high quality of life, walkability, and excellent schools. Currently self-managed with low expenses, the pro-forma financials incorporate a higher management expense factor to accommodate potential new management. Actual rents are significantly below market, resulting in low vacancy and high tenant retention. The property's three buildings are situated at 820 Arlington Ave, 840 Arlington Ave, and 447 West Taylor Street, Reno, NV 89509, with APN numbers 001-262-19, 001-262-18, and 011-262-16. Detailed financials and inspection reports are available upon request with a signed Purchase and Sale Agreement and Non-Disclosure Agreement. Please do not disturb tenants.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.8168954
- Latitude
- 39.5162026
