The Sparks Studios

2150 Victorian Ave., Sparks, NV 89431

— For Sale —

2.80 MM

Building size +/- 5,761 SF

Parcel Acreage +/- 0.516 AC

Property Information

Property Overview

The Sparks Studios are located in the heart of Sparks, NV on Victorian Ave. The location provides easy access to all of Victorian Square’s year-round events, easy access to main thoroughfares, highways, and bus lines. The charming, retro, well cared for exterior offers garden-style living with ample parking. The unit mix consists of five (5) one bedroom, one bathroom units, and eighteen (18) studio units most of which have been wonderfully remodeled and rented at market rents. With a focus on providing comfortable living areas you will find each unit uniquely different from its neighbor. The in-place cap rate is based on the current t-12 financials and there is further upside to the rents! Three (3) of the units are modular Airstream units that are not on permanent foundations but are included in the sale. Units include all furnishings, a fully equipped kitchen, cable tv, on-site laundry facility, and Wi-Fi.

Location Summary

Victorian Square is in the center of many local events for the Reno-Sparks market. Victorian Square has been transformed into the new, modern, live-work-play submarket. The brand new +/- 8,500-seat Nugget outdoor event center hosting major concerts, Galaxy Theater, Sparks Farmers Market, Reno-Sparks Rib Cook Off, Hot August Nights, and much more. Victorian Square is easily accessed between two on-ramps to I-80, Pyramid Highway, and Rock Blvd., making transit easy for tenants.