4600 Neil Rd Unit APT 37, Reno, NV 89502

Property Description

Rare opportunity to acquire a 10-unit condo portfolio in Reno with multiple exit strategies. All 10 units are currently tenant occupied with long-term month-to-month tenants in place. Current rents appear to be below market, creating a clear opportunity for an investor to increase income over time and improve overall yield. Based on current income, the portfolio is offered at approximately a 4.5% cap rate, with projected stabilized income showing an estimated cap rate of approximately 6.3% once rents are moved closer to market. This offering may appeal to both buy-and-hold investors and value-add/flipper-style investors. A buyer can hold the units for rental income and improve cash flow through rent stabilization, or potentially renovate and sell individual condos over time to capture the spread between the bulk portfolio price and individual unit resale values. The portfolio is being offered as one package, providing a buyer the ability to acquire scale in a single transaction without having to assemble units one by one. Investment Highlights: 10-unit condo portfolio in Reno All units tenant occupied Long-term month-to-month tenants Current rents appear below market Offered at 1,125,000 Estimated current cap rate: 4.5 Estimated stabilized cap rate: 6.3 Estimated individual condo sell-off value: 1,590,000 Upside through rent increases, renovations, or individual condo resale Strong fit for buy-and-hold, value-add, or fix-and-flip investors Tenants are not to be disturbed. Showings are subject to accepted offer and buyer verification. Financials are based on rent rolls and estimates; buyer to verify all rents, expenses, HOA information, utilities, condition, and resale assumptions during due diligence.