250 W Commercial Row, Reno, NV 89501 – 240008176

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Richard Berman

rberman@dicksonrealty.com +1(775) 450-1940

$1,800,000

Est. payment - /mo

1 Bed

14 Baths

3,696 SqFt

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UPDATED:

07/03/2024 06:12 AM

Key Details

Property Type Multi-Family

Sub Type Apartment Complex

Listing Status Active

Purchase Type For Sale

Square Footage 3,696 sqft

Price per Sqft $487

Subdivision Nv

MLS Listing ID 240008176

Bedrooms 1

Year Built 1959

Lot Size 5,227 Sqft

Acres 0.12

Property Description

Seller financing is available, and seller would prefer to sell as a portfolio with Sparks Studios (2150 Victorian Ave). With seller financing terms for both assets, buyer would cash flow and potential cash on cash could be around 8%. Welcome to The Townsite Motel in Reno, NV, an excellent investment opportunity located adjacent to the brand new J Resort and the revitalized Neon Light District. The motel offers 14 units, each thoughtfully designed to accommodate short-term rentals. This prime location in Reno's bustling entertainment hub ensures high demand and steady rental income. The Townsite is walking distance to the coveted Riverwalk District and downtown nightlife. Additionally, the surrounding area is seeing further development with the upcoming North Arlington Apartments, a luxury apartment complex that will continue to add to the areas appeal and convenience. This type of asset rarely pops up for sale in Reno. For further details and investment analysis reach out to listing agent.

Location

State NV

County Washoe

Zoning MD-ED

Interior

Heating Evap Cooling, Natural Gas, Wall Heater

Cooling Evap Cooling, Natural Gas, Wall Heater

Flooring Laminate

Appliance Microwave, Refrigerator

Laundry Common

Exterior

Exterior Feature Brick, Stucco

Fence None

Utilities Available Cable, City/County Water, City Sewer, Electricity, Internet Available

Roof Type Flat

Total Parking Spaces 11

Building

Story 2 Story

Foundation Basement/Unfinished

Water Natural Gas

Level or Stories 2 Story

Structure Type Masonry

Schools

Elementary Schools Hunter Lake

Middle Schools Swope

High Schools Reno

Others

Tax ID 01103102

SqFt Source 3696

Special Listing Condition None

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Listed by Address Income

Richard Berman

Agent | S.S.0181980

+1(775) 450-1940

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