527/529/531 mill street reno nv 89502 3 unit property with a 7% cap rate in the heart of the rapidly developing area of Mill Street.
Property is located in the path of the Downtown Reno redevelopment, across the street from the proposed Mill St. Lofts (90 unit residential condominium in the heart of downtown Reno) and the new Mill Street Still & Brew. These 3 units consist of a duplex with each unit offering 2-bedrooms, 1 bathroom and an additional 800+ square feet basement. Third unit is a separate house offering 2 bedrooms, 1 bathroom and also has 800+ square feet of basement. Basements could add additional value by adding bedrooms and bathrooms to each unit. Income producing, always rented and in the heart of the development where you can walk to the ballpark. Great property to enjoy current income or build out the basements for even greater income and equity.
down town reno, Washoe County, Nevada
Reno is a city in the U.S. state of Nevada by the Sierra Nevadas and Lake Tahoe. Dubbed “The Biggest Little City in the World,” it's known for its casinos and its proximity to many ski resorts. Downtown’s National Automobile Museum showcases more than 200 vintage cars. The MidTown District is lined with shops and restaurants. North of downtown, Animal Ark is a sanctuary for rescued bears, cheetahs and other wildlife.
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