1170 Brinkby Avenue
Reno, NV 89509

Sold

Sold for $1,485,000 on Apr 17, 2018

Description

Great VALUE ADD OPPORTUNITY! 16 unit apartment complex across from the Washoe County Golf Course with nice views. Built in 1986, this property has 16 one bedroom units with good layouts, each with their own washer and dryer, dishwasher, garbage disposal and assigned off-street parking. Units are below market and with some TLC and upgrades, could have significant upside. Listing price is a 5% cap on current rents/expenses, 7.5% cap on proforma rents. Zoned for highly-regarded Reno High School.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Sold
• Listing Price: $1,395,000
• County/Area: Washoe County
• Zip Code: 89509
• Year Built: 1986
• Stories: 2 Story
• Units: 16 units
• # of Parking Spaces: 19
• Lot Size: 16988 sq ft
• Zoning: MF30
• Area: Reno-Southwest
• # Buildings: 1
• 1 Bedroom - # Baths: 16
• 1 Bedroom - # Units: 16
• 1 Bedroom - Avg Rent/Unit: 615
• 1 Bedroom - Sqft/Unit: 598
• Access Type: Public
• Annual Expenses: 44301
• Annual Income & Expenses: Actual
• Annual Vacancy: 0.03
• Appliances: Refrigerator, Oven/Range, Disposal, Dishwasher, Washer, Dryer
• Construction: Wood Frame
• Exterior: Masonry Veneer, Wood Siding
• Facility Features: Separated Meters-Gas, Separate Meters-Electric, Master Meter-Water, Separate Water Heaters, Separate Heating/Cooling, Landlord Pays Utilities, Tenant Pays Utilities
• Fenced: None, Partial
• Flooring: Ceramic Tile, Carpet, Sheet Vinyl
• Foundation: Concrete/Crawl Space
• Gross Scheduled Income: 118020
• Gross Square Footage: 9568
• Heating/Cooling: Air Unit, Natural Gas, Forced Air
• Landscaped: Partially Landscaped
• Laundry: Separate
• Net Operating Income: 70178
• Owner(s) May Sell: Exchange 1031, Conventional, Cash
• Parking Types: Designated Parking
• Price Per Sqft: 155.2
• Roof: Pitched, Wood/Shake
• Type Of Property: Apartment Complex
• Unit Features: Smoke Detector
• Utilities: City/County Water, City Sewer, Electricity, Natural Gas
• Water Heater: Electric
• Windows: Double Pane
• Sold Price: 1485000
• Sold Date: 2018-04-17 00:00:00