195 W. 2nd St.

195 W. 2nd St., Reno, NV 89501

— For Sale —

List Price$2.00MM

Size +/- 8,041 SF

Units 20

Property Information

Property Overview

The Olympic Apartments are located in the center of Reno, Nevada at W. 2nd St. and West St. The property is perfectly situated a few blocks from the downtown corridor of N. Virginia St., Truckee River, restaurants, and public entertainment. There are plenty of activities surrounding the property from outdoor art shows and concerts to the new Neon Line development that plans to feature both art and entertainment. The Olympic Apartments offers sizable studio units with one full bathroom and direct access to transit lines and downtown. Several unit rents are well below market and have big upside with potential in unit renovation. Studio units are becoming very popular rental units, especially in the downtown corridor. The property is situated within a federally designated opportunity zone, which entails preferential tax treatment.

  • New roof
  • Downtown Reno location
  • Borders the Neon Line District
  • Walkable to the Wells Avenue Business District Easy to lease Units
  • Upside in rents

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 with will continue to scramble for available apartments to move into.

Contact

Brokerage

Ben Galles

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