840 Arlington Ave, Reno, NV 89509

Property Details for 840 Arlington Ave

Year built

1936

Lot size

0.12 lot acres

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.

Location Insight

City

Reno

County

Washoe

State

Nevada

Longitude

-119.8168954

Latitude

39.5162026