for sale - 2 single family homes, one lot - offering packet

2 SFR ON 1 LOT FOR SALE1640 F STREET, SPARKS, NV 89431

DicksonCG.com

INVESTMENT SUMMARY

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Table Of Contents

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Trevor Richardson, Commercial AgentMultifamily Specialist

EMAIL [email protected] 775.850.3031CELL 775.233.0754

Natalie Richardson, RealtorResidential Specialist

EMAIL [email protected] 775.850.3031CELL 775.233.0754

SMALL MULTIFAMILYSmall multifamily properties are commercial investment properties ranging from a duplex on up 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.

2 SFR ON 1 LOT FOR SALE | SPARKS - 1640 F STREET, SPARKS, NV 89431

OFFERING SUMMARY

FINANCIAL ANALYSIS

PROPERTY PHOTOS

LOCATION

NEIGHBORHOOD / REGIONAL INFO

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Property Description - Offering section 1

1640 F ST - OFFERING SUMMARYInvestor Alert! Two single family homes on one lot! This well maintained, centrally located, Sparks investment property features garage parking for tenants with 2 bedrooms and 2 bathrooms in each unit. The classic and charming neighborhood is minutes away from I-80, providing close access to the regional corridor and all the fun and festivities going on year round at Victorian Square. With multiple developments under construction in Victorian Square this opportunity is placed in an area that is increasing in popularity. Don't miss out on this spectacular opportunity!

FRONT HOUSE - STREET VIEW

Asking Price

Rentable SF

Parking 1 Garage/UnitSchool Near Sparks HighCurrent Rents Under Market

Location

OFFERING HIGHLIGHTS

Units

MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE - 516 RYLAND ST, RENO, NV 89502

$339,000

3,110

Central, Near 1-80

Two House Units

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Offering Summary section 1


Property Unit MixOffering Price $339,000 Unit Type Product Type Building # # Units SF Rent Current Rent Proforma

$/SF $109 Duplex Unit 2/2 A 1 1,790 $1,205 $1,200

$/UNIT $169,500 Duplex Unit 2/2 B 1 1,320 $925 $1,100

Address 1640 F St

City Sparks

State NV

Zip 89431

Property Name 2 SFR On 1 Lot For Sale

Property Type Multifamily

Zoning MUD

Assessor's Parcel # 031-351-13

# Units 2

# Buildings 2

Rentable SF 3,110

Lot Size (AC) 0.207

Status On Market


Financial Analysis - Proforma Income & Expense section 2

Acquisition Assumptions Income & Expenses - Page 3 Proforma - Page 4Listing Price $339,000 Income $ % /Mo Income $ % /Mo

Construction Rehab $0 GRI $25,560 $2,130 GRI $27,600 $2,300

Total Basis $339,000 Vacancy 0.00 0% 0 Vacancy 0.00 0% 0

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

Net Income $25,560 $2,130 Net Income $27,600 $2,300

Expenses Expenses

Total (6,321.00) -24.73% (527) Total (6,321.00) -22.90% (527)

Net Operating Income Net Operating Income

Total $19,239 $1,603 Total $21,279 $1,773

CAP RATE @ ASKING PRICE PROFORMA CAP RATE @ ASKING PRICE

LISTING PRICE $339,000 5.68% 6.28%


section 2Financial Analysis - Cash Flow Summary

Annual Expenses 2015 Property IncomeExpense Cost % GI Unit Type Product Type Building # # Units SF Current Rent

Taxes $1,328 5.20% Duplex Unit 2/2 A 1 1,790 $1,205

Insurance $1,716 6.71% Duplex Unit 2/2 B 1 1,320 $925

Utilities $1,277 5.00%

Maintenance* $2,000 7.82%

0.00%

0.00%

0.00%

Total (6,321.00) -24.73% Gross Rental Income (GRI) $25,560 Other Income*Annual Assumptions Vacancy 0.0% 0.00 Laundry

Net Operating Income (NOI) Net Rental Income $25,560

$19,239

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Financial Analysis - Actual Income & Expense


section 2

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

Taxes $1,328 4.81% Duplex Unit 2/2 A 1 1,790 $1,200

Insurance $1,716 6.22% Duplex Unit 2/2 B 1 1,320 $1,100

Utilities $1,277 4.63%

Maintenance* $2,000 7.25%

0.00%

0.00%

0.00%

Total (6,321.00) -22.90% Gross Rental Income (GRI) $27,600 Other Income

Vacancy 0.0% 0.00 Laundry $0

Net Operating Income (NOI) Net Rental Income $27,600 $0

$21,279

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FRONT HOUSE - STREET VIEW FRONT HOUSE - DRIVEWAY VIEW

BACK HOUSE - DRIVEWAY VIEW (ONE GARAGE PER HOUSE UNIT)

Property Photos - Exterior

BACK HOUSE - YARD VIEW


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BACK HOUSE - LIVING ROOM BACK HOUSE - DINING ROOM

BACK HOUSE - BEDROOM

Property Photos - Interior

BACK HOUSE - KITCHEN


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Location - Assessor Map


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Location - Regional Map

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

NEVADA

NW RENO

TRUCKEE, CA

SPARKS

MIDTOWN RENO

WINGFIELD SPRINGSNORTH VALLEYS

SOUTH RENO

1640 F St

INTERSTATE 80

INTERSTATE 580

SE CONNECTOR (UNDER CONST.)


section 4

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Fountainhouse Sparks Development

Sparks High School

Location - Neighborhood Info Map

Century Theaters

The Yard Development

1640 F St

2 SFR ON 1 LOT FOR SALE | SPARKS - 1640 F STREET, SPARKS, NV 89431 11

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THE YARDLocated in historic Victorian Square, and formerly known as Bourbon Square Casino, THE YARD is a vibrant, indoor-outdoor destination with restaurants, shops and creative offices designed to power creativity and explore what’s new in food and culture in Reno/Sparks. The YARD will undergo a comprehensive redevelopment that emphasizes trending architecture and open space for people to gather, making it a premier destination experience for all whom live, work, play, and/or visit Sparks.

Responding to the new use as a Retail, Dining and Entertainment Destination, the once inwardly programmed building will be repositioned to engage and enhance the streetscape along all surrounding streets. Pedestrians, shoppers and guests will encounter a vibrant main street setting at THE YARD; with retail storefronts and restaurants facing outward towards Victorian Avenue and Plaza, as well as C and 10th Street. The various storefront designs will create a sense of individual facades scaled for an inviting pedestrian experience. Contemporary, warm materials, such as repurposed wood siding and corten steel will be used in the design, as well as extensive glazing systems on the upper levels. THE YARD repositioning will become a flagship project for Sparks and Reno.

RENDERINGS OF COMPLETED DEVELOPMENT UNDER REDEVELOPMENT - TODAY


section 5Victorian Square - Redevelopment

section 5

CENTURY THEATERS

Victorian Square - Redevelopment

FOUNTAINHOUSE SPARKS - UNDER CONSTRUCTIONC STREET LOFTS - UNDER CONSTRUCTION


Market Info - Reno/Sparks

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


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Market Info - Major Regional Developments

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


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for sale - 2 single family homes, one lot - offering packet

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