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344 2Nd StReno, NV 89503

Downtown Reno, 69 Units, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional Class A multifamily investment opportunity presents a brand-new, 2023-constructed apartment building in Reno's vibrant Riverwalk District. The property, encompassing 79,443 square feet on a 0.787-acre lot, features a total of 69 units, comprised of 21 one-bedroom/one-bathroom and 48 two-bedroom/two-bathroom apartments. All units boast 10-foot ceilings and modern, high-end finishes, including in-unit washers and dryers and smart home technology. The building's prime location offers unparalleled walkability to shopping, dining, entertainment, and the Truckee Riverwalk's recreational amenities. Residents enjoy easy access to downtown Reno, major thoroughfares, and public transportation. The property's strong performance is reflected in its impressive pro-forma net operating income (NOI) of $1,357,869. Additional amenities include a fitness center and covered parking. This institutional-quality asset, zoned MD-PD, represents a compelling investment in a thriving Nevada market. The single five-story building is situated at 344 W 2nd St, Reno, NV 89503 (APN: 011-025-10). This is a rare opportunity to acquire a state-of-the-art multifamily property in a high-demand location. Offers are being considered.

Highlights

  • Brand new construction multifamily building.
  • 69 total units (48 two-bedroom/two-bathroom, 21 one-bedroom/one-bathroom).
  • One block from Reno Riverwalk District.
  • Amenities include fitness center, covered parking, and smart home technology.
  • Ten-foot ceilings.
  • Offers due May 23, 2024.

Property Details for 344 2Nd St

Property type
Apartment buildings
Square Feet
79,443 SF
Class
A
Year Built
2023
Buildings
1
Stories
5
Lot Size (sq. ft)
34,282 SF
Units
69

Location Insight

City
Reno
County
Washoe
State
Nevada
Latitude
39.5255719
Longitude
-119.817998
344 2Nd St, Reno, Nevada

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344 2Nd St
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