41 W. 9th St.

41 W. 9th St., Reno, NV 89503

— For Sale —

List Price1.2MM

Building Size +/- 3,159 SF

Land Size +/- 0.161 AC

 

Property Information

41 W. 9th St. offers a rare opportunity to acquire a 4-unit student housing investment just a block away from the south end of the main campus of the University of Nevada, Reno. This value-add opportunity consists of two 2-bedroom units, one 1-bedroom unit, and one 5-bedroom unit. There are a total of nine parking spaces on the property made up of five parking spaces in the rear and two tandem parking spots in the front. There is also the addition of on-site laundry alongside two outdoor storage sheds. The large, fenced yard is perfect for entertaining.

Student housing demand remains high near the university, along with the average rent exceeding $920/bed. The property has been historically rented to fraternities or can be leased as individual apartments.

The property is located near the University of Nevada, Reno, the S. Virginia Street and McCarran Blvd. thoroughfare, and Interstate 80, making renting easy due to its strategic location. Multifamily property owners continue to see rising rental rents from the shrinking supply and increased demand, and incoming major employers. Investors buying in Nevada benefit from competitive cap rates, rising rental rates, landlord-friendly laws, and Nevada’s lack of a state income tax.

Contact

Brokerage

Randy Pease, CCIM

Vice President
Reno
License S.177243
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O 775.800.4100
C 775.225.9910
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Brokerage

Ben Galles

Vice President
Reno
License S.47543
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O 775.433.1106
C 775.750.6429
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Brokerage

Braeden Evenden

Associate
Reno
License S.185410
C 702.526.4729
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