3596 Gypsum Rd, Reno, NV 89503

This turnkey updated garden apartment complex consists of 2 buildings for a total of 8 units. 6 of the 8 units have been updated since 2017. The updates included 3 new furnaces, 2 AC compressors, new flooring (vinyl plank and carpet), upgraded bathrooms, upgraded appliances, community laundry rooms, and a newly sealed parking lot. Located just minutes from UNR and close to the US Hwy 395. Listing price is 7.3% cap on proforma rent and a 6.4% cap on current rents/expenses. PLEASE DO NOT DISTURB TENANTS.

High income producing... 13.59% annual cash on cash & equity build-up return on first yr. based on 75% LTV, 4.5%, 25 yr loan and return increases every year. Rents below market so numbers will only improve. Very well cared for complex, 2 buildings, 8, 2 bedroom units, many recent upgrades, all with Air Conditioning, income producing laundry on site with 2 washers & 2 dryers, good rental history, many long term tenants, close to University of Nevada, tenants pay water, elec, gas, (See extended Remarks) water, electric, gas and cable. All units are full and vacancy has been at almost 0%. Income & expense are close to 100% correct. APODs are examples (Pro Froma) of both cash and financed purchases of cash flow based on sales price and current estimated terms, attached under "D" documents. Current rents: 695, 750, 725, 675, 675, 775, 690, 820. Call listing agent for more details. Please do not disturb the tenants. No sign on the property. All information here is deemed correct but not guaranteed, buyer to verify all information.