606 E 7th St
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606 E 7th St
3 Unit Apartment Building $735,000 ($245,000/Unit) 5.87% Cap Rate Reno, NV 89512
Investment Highlights
- Completely Remodeled with Modern Design
- Stainless steel Appliances in all units
- Fully Fenced Lot
- Plank Vinyl Flooring in all units
- Near UNR and TMCC - Minutes From Airport and Hospitals
- Potential to Build More Units
Executive Summary
Have you been thinking about buying an investment property? How about one in the heart of downtown Reno, close to the University that has been completely remodeled and updated with all the charm. Here’s your chance to own a piece of the growing core of Reno. Corner lot location that offers off-street parking as well as a shared parking lot inside the gate just for tenants. The yard is park-like yet easy to maintain and offers a great space to hang and nice outside aesthetic. Each unit has its own appeal and charm. LVP throughout with modern Bathrooms and Kitchens. Quartz Counters and Stainless Appliances, Shaker Cabinets and a neutral modern color pallet in each. Separate Laundry for each unit with Washer and Dryer. Located minutes from the Reno/Tahoe International Airport, close to I80 and I580 and Lake Tahoe. Large lot could potentially accommodate additional units, zoning is MD-ID a Mixed Used Downtown Innovation District Zoning. Buyer to verify.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $735,000 | Lot Size | 0.22 AC |
| Price Per Unit | $245,000 | Building Size | 2,117 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 5.87% | No. Stories | 2 |
| Sale Conditions | 1031 Exchange | Year Built/Renovated | 1910/2020 |
| No. Units | 3 | Parking Ratio | 2.83/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $735,000 |
| Price Per Unit | $245,000 |
| Sale Type | Investment |
| Cap Rate | 5.87% |
| Sale Conditions | 1031 Exchange |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.22 AC |
| Building Size | 2,117 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/2020 |
| Parking Ratio | 2.83/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Deck
- Double Pane Windows
- Freezer
- Garden
- Lawn
- Porch
- Smoke Free
- Vinyl Flooring
- Window Coverings
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Picnic Area
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,415 | 615 - 630 |
| 2+1 | 1 | $1,600 | 887 |
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Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 008-183-19 | Improvements Assessment | $25,220 (2024) |
| Land Assessment | $47,250 (2024) | Total Assessment | $72,470 (2024) |
PROPERTY TAXES
Parcel Number
008-183-19
Land Assessment
$47,250 (2024)
Improvements Assessment
$25,220 (2024)
Total Assessment
$72,470 (2024)
zoning
| Zoning Code | MU-ID (Zoning is MD-ID a Mixed Used Downtown Innovation District Zoning. See uploaded info for allowed uses.) |
| MU-ID (Zoning is MD-ID a Mixed Used Downtown Innovation District Zoning. See uploaded info for allowed uses.) |
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606 E 7th St
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