Keystone Apartments

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Address: 1301 Stardust St, Reno, Nevada, US
Created date: June 12, 2023
Date last updated: April 18, 2024
  • Essentially New Construction (Completely rehabbed in 2022)
  • 11 One Bed and 27 Two Bed  One and a Half Bath Units
  • 10 Units Have Balconies
  • Onsite Laundry
  • Close to UNR and Downtown Reno

Property Description

The Keystone Apartments are a fully rehabbed multifamily asset located in Reno, Nevada. This asset has been meticulously renovated inside and out. The properties exterior features a rage of amenities, include modern paint and murals, new fencing, new stair railings, new windows, new roofs, select units have private patios, and modern zeroscape communal outdoor living space. The interior features modern finishes with two toned cabinetry, new appliances, LVP flooring, modern paint, spacious living and dining areas, new forced heating units and new all air conditioning units. Unit mix is 11 one bedroom one bath units and 27 two bedroom one and a half bath units. 10 of the two bed units have private patios. These features provide a buyer with an asset that’s easy to maintain, a strong unit mix, and achieves the highest possible rents. The property boasts a prime location with a desirable residential area, close to many shopping options, easy access to Interstate 80 and public transportation, and is just a mile west of The University of Nevada, Reno. This makes it an attractive option for tenants seeking convenience and accessibility with new modern living features. Two Bedroom 360 Tour: https://unbranded.youriguide.com/2_bed_unit_1301_stardust_st_reno_nv/ 1 Bedroom 360 Tour https://unbranded.youriguide.com/1_bed_unit_1301_stardust_st_reno_nv/

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Price: $8,500,000
No. of Units: 38
Cap Rate: 5.95%
Average Occupancy: 99
Year Built: 1963
Year Renovated: 2022
Building Size: 29,070 Sq ft
Lot Size: 0.85 Acres
No. of Stories: 3
APN: 006-165-09
Zoning Code: MF-30
Opportunity Zone: No
Price per unit: $223,684
Address: 1301 Stardust St

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent
One bed one bath 11 600.00 1300.00
Two bed one and a half bath 27 800.00 1550.00

FINANCIAL DETAILS

Income/expense info: Pro Forma
Financial year: 2023
Gross income: 673800.00
Effective Gross income: 690066.00
Operating expenses: 171310
Net operating income: 518756

Additional contacts

Full name Phone number Email address
Ben Galles 775 750 6429 [email protected]

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