1 /
19
Map
$18,440,453*
●
Multifamily -
Off Market
1385 N Virginia Street
Reno, NV 89503
Studio
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
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
07/24/2018
|
|
Studio
|
-
|
-
|
$15,500,000
Studio
-
|
-
-
|
-
|
-
|