315 Ryland St Triplex FOR SALE - Investment Opportunity Package

reno small multifamily and investment property team [email protected]

FOR SALE $399,000 - 5.4% CAP

MIDTOWN RENO TRIPLEX315 RYLAND ST, RENO, NV 89502

INVESTMENT SUMMARY

section 1 OFFERING SUMMARY

section 2 CASH FLOW / INCOME & EXPENSES

Trevor Richardson, Commercial AgentMultifamily Specialist

EMAIL [email protected] 775.850.3031CELL 775.233.0754

Natalie Richardson, RealtorResidential Specialist

EMAIL [email protected] 775.830.6487

section 3 PROPERTY PHOTOS

SMALL MULTIFAMILY TEAMDuplex Triplex FourplexSmall multifamily properties are commercial investment properties ranging from a duplex to 10 units. In the Reno/Sparks metro they have both commercial and residential aspects that require professionals from both fields to maximize their potential and provide a higher quality service for buyers and sellers of these properties.

section 4 LOCATION

section 5 REGIONAL INFO / DEMOGRAPHICS

GUIDE

midtown reno tri-plex for sale SECTION 1

STUDIO - UNIT ENTRY

Asking Price $399,000

Rentable SF 2,151

Parking Driveway/StreetUse MultifamilyOccupancy 100%

Location Downtown/Midtown

Units 3

315 RYLAND ST - OFFERING SUMMARYCharming brick tri-plex located in the heart of downtown Reno. Consisting of a studio, a 1 bed-1 bath, and a 2 bed-1 bath, this property offers a variety of sizes and styles to fit any kind of tenant. The owner has invested years of hard work into renovating each unit to match modern day needs. Everything from the roof to plumbing and electrical, or even aesthetic touches, there's hardly an inch that hasn't been updated.

Each unit features updated kitchen and bathrooms, spacious living rooms, washer and dryer in each unit, and an outdoor space perfect BBQing in the Reno's warm summer evenings. The stylish units, mix old and new effortlessly to create cozy and inviting living spaces for your tenants. Being downtown, your tenants will be close to the Truckee River, restaurants, coffee shops, and centrally located for work.

OFFERING SUMMARY


HIGHLIGHTS

M O D E R N U P D A T E S

OVERVIEW/CASH FLOW


Property Unit Mix

Offering Price $399,000 Unit Type Product Type Lease Type # Units SF Actual Rent Proforma Rent

$/SF $185 House Unit 2/1 Year Lease 1 837 $950 $1,200

$/UNIT $133,000 House Unit Studio Year Lease 1 666 $730 $900

Address 315 Ryland House Unit 1/1 Year Lease 1 648 $810 $1,000

City Reno

State NV

Zip 89502

Property Name Ryland St Rentals

Property Type Multifamily

Zoning MUDR

Assessor's Parcel # 012-133-04

# Units 3

# Buildings 1

Rentable SF 2,151

Lot Size (AC) 0.097

Actual Cash Flow Proforma Cash FlowIncome $ % /Mo Income $ % /Mo

GRI $29,880 $2,490 GRI $37,200 $3,100

Vacancy (896.40) -3% (75) Vacancy (1,116.00) -3% (93)

Other Income $0 $0 Other Income $0 $0

Net Income $28,984 $2,415 Net Income $36,084 $3,007

Expenses Expenses

Total (7,366.00) -25.41% (614) Total (7,366.00) -20.41% (614)

Net Operating Income Net Operating Income

Total $21,618 $1,801 Total $28,718 $2,393

CAP RATE @ ASKING PRICE PROFORMA CAP RATE @ ASKING PRICE

5.4% 7.2%


INCOME/EXPENSES Actual Expenses 2015 Actual IncomeExpense Cost % GI Unit Type Product Type Building # # Units SF Current Rent

Taxes $1,086 3.63% House Unit 2/1 Year Lease 1 837 $950

Insurance $1,000 3.35% House Unit Studio Year Lease 1 666 $730

Utilities $2,280 7.63% House Unit 1/1 Year Lease 1 648 $810

Maintenance $3,000 10.04%

Total (7,366.00) -24.65% Gross Rental Income (GRI) $29,880

*Annual Assumptions Vacancy 3.0% (896.40)

Net Operating Income (NOI) Net Rental Income $28,984

$21,618

Actual Expenses Proforma Property IncomeExpense Cost % GI Unit Type Product Type Building # # Units SF Proforma Rent

Taxes $1,086 2.92% House Unit 2/1 Year Lease 1 837 $1,200

Insurance $1,000 2.69% House Unit Studio Year Lease 1 666 $900

Utilities $2,280 6.13% House Unit 1/1 Year Lease 1 648 $1,000

Maintenance* $3,000 8.06%

Total (7,366.00) -19.80% Gross Rental Income (GRI) $37,200

*Annual Assumptions Vacancy 3.0% (1,116.00)

Net Operating Income (NOI) Net Rental Income $36,084

$28,718

STREET VIEW

2BR/1BA - FRONT ENTRYBACKYARD - 2BR/1BA


PROPERTY PHOTOS EXTERIOR

CLASSICBRICKCHARM

1BR/1BA - FRONT YARD 2BR/1BA - FRONT ENTRY

1BR/1BA - FRONT ENTRYFRONT YARD - 1BR/1BA


PROPERTY PHOTOS EXTERIOR

UNIT #1 - KITCHEN

UNIT #1 - BATHROOMUNIT #1 - LIVING ROOM


PROPERTY PHOTOS UNIT #1 - 2BR/1BA

UNIT #1 - BEDROOM

UNIT #1 - BEDROOM

STUDIO - ENTRY

STUDIO - STAIRSSTUDIO - LIVING & BED NOOK


PROPERTY PHOTOS UNIT #2 - STUDIO w/ CONVERTED GARAGE SPACE

O U T D O O R BALCONY PATIO


PROPERTY PHOTOS UNIT #2 - STUDIO w/ CONVERTED GARAGE SPACE

STUDIO - BATHROOM

STUDIO - CONVERTED GARAGE

STUDIO - CONVERTED GARAGE

UNIT # 3 - LIVING UNIT # 3 - BEDROOM

UNIT # 3 - KITCHENUNIT # 3 - BATHROOM


PROPERTY PHOTOS UNIT #3 - 1BR/1BA

SOMERSETT GOLF COMMUNITY

UNIVERSITY OF NEVADA, RENO

LAKE TAHOE

TAHOE RENO INDUSTRIAL CENTER (TRIC)

TESLA MOTORS GIGAFACTORY

SWITCH SUPERNAP

APPLE DATA CENTER

DOWNTOWN RENO

RENO TAHOE INTERNATIONAL AIRPORT

CALI

FORN

IA

PROPERTY SITE

NW RENO

TRUCKEE, CA

SPARKS

MIDTOWN RENO

WINGFIELD SPRINGSNORTH VALLEYS

SOUTH RENO

INTERSTATE 80

INTERSTATE 580

SE CONNECTOR (UNDER CONST.)


LOCATION

NEVADA

REGIONAL MAP


LOCATION

PROPERTY SITE

DOWNTOWN RENO DEVELOPMENT MAP


LOCATION ASSESSOR MAPS

RENTAL TRENDS Apartment Rent Growth Reno’s apartment rent growth is staggering and currently sits at the highest average rental rate in history. Reno surpassed national trends with a dramatic 11.8% rental growth during 2016. Apartment demand remains very high with virtually no vacancy issues. Reno apartments marketed on the internet can produce 50 to 100 inquiries in a matter of days.


NEWLY COMPLETED 777 CENTER DEVELOPMENT - NEW OFFICE AND RETAIL SPACE

MIDTOWN RENOMidtown is a special part of Reno. It's a commercial-centric corridor in the center of town that parallels Virginia and Center Streets, just south of downtown, from about Liberty Street to Mt. Rose Street. Featuring an eclectic range of businesses from one-of-a-kind restaurants to mom-and-pop hardware stores, Midtown is the most small-business-dense section of Reno. A wide range of businesses front Center Street, including Maytan Music Center, Achieve Fitness, Crystal Springs, Aspen Electric, GuiDenby, Rose's Cafe, and more. A block or so off Center Street but still in the MidTown district you will find even more eclectic businesses, such as the highly acclaimed Junkee Clothing Exchange, Sup Restaurant, MidTown Eats, Creme and a group of highly regarded tattoo, body piercing and skate shops. On the southern edge of MidTown, you'll find a newly renovated shopping center on the corner of Virginia and Mt. Rose, featuring the new home of Sushi Pier 2, a great bookstore, Zephyr Books, and more. - downtownmakeover.com

REGIONAL INFO


REGIONAL INFO MIDTOWN RENO


RENO, NEVADAThe Greater Reno/Sparks area is starting to see and feel the unprecedented growth in the area thanks to many key factors. Near the end of 2014, Tesla Motors named Nevada the official site for the Tesla Gigafactory, a massive factory to produce batteries for it’s electric vehicles. According to the Governor’s Office of Economic Development, over 22,715 jobs could be created in Northern Nevada thanks to Tesla, as well as a substantial increase in construction and housing activity. Governor Sandoval, in his State of the State speech in January 2015, stated “Nevada’s job growth is third strongest in the country, we have cut our unemployment rate in half, and we have the second fastest growing population in the nation.”

The Economic Development Authority, or EDAWN, is projecting an increase of more than 51,000 primary and secondary jobs from 2015 to 2019 for the region. In 2014, EDAWN assisted 34 companies in moving or expanding into Nevada, which included 13 headquarters. Prior to that, the record for head-quarters was six. The 34 companies accounted for 4,179 new jobs for the area as well. EDAWN kicked off 2015 with 10 prospects visiting in just January alone. EDAWN credited high profile projects such as the Apple data center, Tesla Motors’ gigafactory and the Switch SUPERNAP data center for increasing interest in the region from outside companies and expects to see nearly 100 other announcements before end of 2015.

DOWNTOWN RENO

REGIONAL INFO


TESLA GIGAFACTORYCosting $5 billion and projected to employ 6,500 people once up and running, Tesla Motors' Gigafactory at the Tahoe Reno Industrial Center is considered one of the biggest wins in economic development history. The gigafactory is the linchpin in Tesla's plans for expansion, manufacturing an estimated 500,000 battery packs for the company's electric cars each year when operational. It will also allow the company to eventually scale up its Tesla Energy line of storage batteries for homes and businesses. Just as important as its raw numbers, however, is its impact on Reno's reputation as a place to do business for companies looking to expand. - rgj.com

Tesla’s mission is to accelerate the world’s transition to sustainable transportation. To achieve that goal, we must produce electric vehicles in sufficient volume to force change in the automobile industry. With a planned production rate of 500,000 cars per year in the latter half of this decade, Tesla alone will require today’s entire worldwide production of lithium ion batteries. The Tesla Gigafactory was born of necessity and will supply enough batteries to support our projected vehicle demand. Tesla broke ground on the Gigafactory in June 2014 outside Sparks, Nevada, and we expect to begin cell production in 2017. By 2020, the Gigafactory will reach full capacity and produce more lithium ion batteries annually than were produced worldwide in 2013. - teslamotors.com/gigafactory

REGIONAL INFO


REGIONAL INFO

According to Livability.com’s “2016 Top 100 Best Places to live” selected from over 2,000 cities.

HOW DOES NEVADA STACK UP?

According to Chiefexecutive.net’s “2016 Top 50 Best Places to do business.”

Most Business-Friendly Tax Climate by the Tax Foundation for 2017.

The Kauffman Foundation Index ranks Nevada as #2 of 25 in “Highest Startup Activity in 2016” for Smaller States.

The Kauffman Foundation Index ranks Nevada as #8 of 25 in “Growth Entrepreneurship 2016” for Smaller States.

#47

#9

#5

#2

#8

*While obtained from sources deemed reliable, broker does not guarantee information and no warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.


The University of Nevada, Reno, plays an integral role with developing and maintaining a diverse and professional business economy in the Reno/Sparks/Tahoe area. Located just north of the downtown district, the UNR campus provides 145 undergraduate and 124 graduate programs for one of the more affordable universities in the area. Current students pay 80 percent less than the average Tier 1 Institution, making UNR one of the most affordable and high-quality universities in the West.

The College of Business in particular is one of the strongest assets for the university, offering degree programs ranging from accounting and business administration to information systems and gaming management. The College of Business even offers minor degrees for cyber security and entrepreneurship, both vital assets for professional labor in today’s economy.

Beyond providing a high quality and affordable education for its students, UNR is dedicated to building a genuine sense of community in Northern Nevada. The College of Business houses the Ozmen Center for Entrepreneurship and the Nevada Small Business Development Center, giving students, faculty and local aspiring business professionals the opportunity to collaborate on entrepreneurial ideas or endeavors.

UNIVERSITY OF NEVADA, RENOThe university recently opened the InNEVation Center, Powered by Switch, in Fall 2015 to serve as a center for collaboration between local technology developers, entrepreneurs and researchers. The InNEVation Center emphasizes drone research, which has contributed to Northern Nevada’s rapidly growing reputation as a hotbed for drone research.


REGIONAL INFO

315 Ryland St Triplex FOR SALE - Investment Opportunity Package

Real Estate

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