61 Park St., Reno, NV 89502

— Pending —

List Price$1.25MM

Size +/- 4,576 SF

Units 13

Property Information

Property Overview

The Park Villa Apartments are a value-add opportunity located in the center of Reno, Nevada, on Park St. between E. 2nd St. and Mill St. The property is only a short distance to Greater Nevada Field, home of the Reno Aces and 1868 FC, Truckee River, and Renown Medical Center. There are plenty of activities surrounding the property from small concert venues, local breweries, and restaurants. The Park Villa Apartments offers 12 studio units with one full bathroom and one bedroom one bathroom units. It also has direct access 

to transit lines off both E. 2nd St. and Mill St. The property is situated within a federally designated opportunity zone, which entails preferential tax treatment.

Unit Mix: 

13 total units built in 1963

  • 12 studio | +/- 350 SF
  • 1 one bedroom, one bathroom | +/- 376 

Area Highlights: 

Northern Nevada’s image is gaining national attention and large employers are moving to our area creating a flood of renters scrambling for housing. We believe the market will continue to be strong for landlords in 2021 despite the economic effects of COVID-19. The local industrial market is booming with warehouse and manufacturing jobs that are employing people from all over the country. These new employees become new renters which will continue to scramble for available apartments to move into.

Contact

Brokerage

Ben Galles

Vice President
Reno
License S.47543
linkedin-square
O 775.433.1106
C 775.750.6429
More Info