4600 Neil Rd
Reno, NV 89502 Convention Center

• Unit Size: 860 SF
• Condo Use: Flex
• Price: $1,125,000 USD
• Sale Type: Investment
• Price/SF: $1,308.14 USD

Description

10 Unit Portfolio Sale

Sale Notes

Rare opportunity to acquire a 10-unit condo portfolio in Reno with multiple exit strategies.

All 10 units are currently tenant occupied with long-term month-to-month tenants in place. Current rents appear to be below market, creating a clear opportunity for an investor to increase income over time and improve overall yield. Based on current income, the portfolio is offered at approximately a 4.5% cap rate, with projected stabilized income showing an estimated cap rate of approximately 6.3% once rents are moved closer to market.

This offering may appeal to both buy-and-hold investors and value-add/flipper-style investors. A buyer can hold the units for rental income and improve cash flow through rent stabilization, or potentially renovate and sell individual condos over time to capture the spread between the bulk portfolio price and individual unit resale values.

The portfolio is being offered as one package, providing a buyer the ability to acquire scale in a single transaction without having to assemble units one by one.

Investment Highlights:

10-unit condo portfolio in Reno
All units tenant occupied
Long-term month-to-month tenants
Current rents appear below market
Offered at $1,125,000
Estimated current cap rate: 4.5%
Estimated stabilized cap rate: 6.3%
Estimated individual condo sell-off value: $1,590,000
Upside through rent increases, renovations, or individual condo resale
Strong fit for buy-and-hold, value-add, or fix-and-flip investors

Tenants are not to be disturbed. Showings are subject to accepted offer and buyer verification. Financials are based on rent rolls and estimates; buyer to verify all rents, expenses, HOA information, utilities, condition, and resale assumptions during due diligence.