See Home Value
Reno 89503 Campus Heights
1385 N Virginia Street
$18,440,453*
Multifamily - Off Market

1385 N Virginia Street

Reno, NV 89503
bedrooms
Studio
bathrooms
0 Bath
$11,250,000 - $13,750,000
Reference Base Price*
47.52%
Since Jun 1, 2019
National-US
Primary Model

About This Property

The units are fully-furnished with modern furniture, 50 inch smart TVs, granite countertops, wood laminate floors, central heating & air, stainless steel appliances, stackable washers & dryers, controlled key access, desk and chairs. Select units have balconies & vaulted ceilings. This development is unique to the area in that it offers spectacular views of downtown Reno, Sparks and the University of Nevada Campus. In addition, two restaurants and a Greater Nevada Credit Union branch located beneath the student housing and the brand new Wiegand Fitness Center in proximity.  The rooms are spacious enough to add extra beds to maximize usage. There are 5 bedrooms in the building that hold double-occupancy (renting for $650.00 per bed).  There are 2 units in the building that are retro-fitted to add 2 extra bedrooms.   Retail Rents: Greater Nevada Credit Union tenant is currently leasing at $3.00 per square foot/NNN. The remaining two retail locations are projected to lease for $3.50 per square foot/NNN, which is typical for prime retail frontage in either University or Midtown areas.   Opportunity Zone  ***Property next door is also owned by Pink Hill Properties LLC and is for sale separately for continued development/growth of the project. 1349 N. Virginia Street is a 3bd/1bh, 1,088sf, 0.126 acres. Conceptual ideas are to build over the current parking lot with more housing units and retail on the ground floor. Prime Investment/development properties in an OPPORTUNITY ZONE. Student housing complex and house next door for sale. Both buildings are located directly across the street from the growing University of Nevada, Reno campus. The Towers at Pink Hill finished new construction in 2018. The Towers is made of 23 furnished units (54 beds) with commercial ground floor. This investment allows for continued development/growth of the project. House next door address: 1349 N. Virginia is a 3bd/1bh, 1,088sf, 0.126 acres  Listing Agent: Garry K Hill-Thomas Email Address: [email protected] Broker: Trans-Action Realty 500
Unit Size
-
Days on Market
-
Land Size
0.52 acres
Price per sqft
-
Property Type
Multifamily
Property Taxes
$67,568
HOA Dues
-
Year Built
2017

Price History

Date / Event Date Event Price
May 8, 2019 No longer available -
No longer available
Jan 17, 2019 Price Decreased $12,500,000
↓ $1M (9.1%)
Price Decreased
Nov 1, 2018 Price Decreased $13,750,000
↓ $750K (5.2%)
Price Decreased
Sep 12, 2018 Price Decreased $14,500,000
↓ $1M (6.5%)
Price Decreased
Jul 24, 2018 Listed $15,500,000
Listed

Property Highlights



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20180724
07/24/2018
Studio
-
-
$15,500,000
bedrooms
Studio
bathrooms
-
-
-
-
-

Building Info

1385 North Virginia Street 1385 North Virginia Street, Reno, NV 89503
More about this Building
1385 North Virginia Street
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About University of Nevada


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