E Long Street Apartments

Address: 1841 E Long St, Carson City, NV 89706, USA, Carson City, Nevada, US

Phoenix & Southwest + Apartments

Created date: November 20, 2023

Date last updated: November 21, 2023

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.

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Broker Details

Ben Galles

7757506429

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