E Long Street Apartments
- Fantastic Carson City location
- Interiors recently remodeled
- Short commute to South Lake Tahoe
- $300 + upside in rents
- Close to Highway 50
Property Description
1841 E. Long Street offers an investor the opportunity to acquire 8 units within the Carson City submarket in northern Nevada. This 8-unit asset consists of all 2 bedroom, 1 bathroom units, gas wall heaters, LVP flooring, upgraded countertops, dishwashers, and much more. The owner renovated most of the units over the past 4 years but rents are well below market by at least $300+ a unit. There is upside in income by renewing rents at market upon lease expiration. Don't miss out on this opportunity. The property’s Carson City location is consistently attracting residents looking for an excellent quality of life and affordable housing options. With limited housing inventory, the demand for rental properties has steadily increased, resulting in a healthy rental market within the Carson City submarket. Carson City is a short commute to Reno, Minden, Garnerville, Douglas, South Lake Tahoe, and the Tahoe Reno Industrial Center. This submarket is a thriving rental market in northern Nevada.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Multifamily type: | Apartments |
| Price: | $1,400,000 |
| No. of Units: | 7 |
| Cap Rate: | 4.81% |
| Average Occupancy: | 100 |
| Year Built: | 1979 |
| Year Renovated: | 2020 |
| Building Size: | 6,911 Sq ft |
| Lot Size: | 0.32 Acres |
| No. of Stories: | 2 |
| APN: | 002-368-03 |
| Zoning Code: | GC |
| Opportunity Zone: | No |
| Price per unit: | $200,000 |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|---|---|---|
| 2 bed 1 bath | 8 | 8644 | 1000 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Ben Galles | 775 750 6429 | [email protected] |
Similar Properties in the Area
3 ACRES in Downtown Coral Springs
Coral Springs , Florida
3791 Marlborough Avenue
San Diego , CaliforniaApartment News
View All-
Kidder Mathews Elevates Luchs to Managing Director
California | December 8, 2023
-
Marcus & Millichap Closes Multifamily Sale in Hillcrest
California | December 8, 2023
-
San Francisco Acquires Luxury Apartments as Supportive Housing
California | December 8, 2023
Investing Classroom
View All
Brokers
View All-
Carson Mitchell
Clements and Bush Trading | Texas
-
"T." Furlow
-
G B
-
Eddie Jones
Marketing Alliances Group
Lenders
View All-
Felix Gutnikov
California
-
Gary Bechtel
North Carolina
-
Brad Ross
California
-
Ken Gaitan
Idaho
