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Alliance
Commercial Real Estate Services, Worldwide.
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Commercial Real Estate Services, Worldwide.
Global
NAI Alliance
6995 Sierra Center Parkway
Suite 100
Reno, NV 89511
775 336 4699 fax
Multi-Family Division
State Street Plaza - Reno, NV
Embed
Washoe-Mill Apartments
<object width="425" h
1375 MILL STREET | RENO, NV 89502
URL
Contact Information
Morgan Walsh
Multi-Family Specialist
775 336 4646
[email protected]
http://www.youtube.c
Property Pricing
Price: $8,600,000
Cap Rate: 6.3
Total Units: 115
Building SF: 83,657 sf
Year Built: 1981
Price/Unit: $74,800
Price/SF: $103
Terms: Cash to Private Bond
Property Description
Property Flyer
NAI ALLIANCE IS PLEASED TO ANNOUNCE A UNIQUE ACQUISITION OPPORTUNITY FOR
QUALIFIED INVESTORS:
Please click here to download
the flyer for Washoe-Mill
Apartments.
Located immediately adjacent to Renown Regional Medical Center in the heart of southeast Reno,
the Washoe-Mill Apartments were built in 1980 as a Section 8, HUD-subsidized project for elderly and disabled
tenants. Owned and operated by the seller continuously from inception, these well-maintained units enjoy
exceptionally low vacancy, a high reputation for professional management and consistently high HUD REAC
facility inspection scores. The property is conveniently located along a major arterial served by public transit,
grocery and recreational facilities. Units are more than 25% larger than the market average size for studio and
one-bedroom units and include 12 accessible apartments and a two-bedroom unit for the resident manager.
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Alliance
Commercial Real Estate Services, Worldwide.
contact information
Morgan Walsh
Multi-Family Specialist
[email protected]
775 336 4646 Direct
www.naialliance.com
6995 Sierra Center Pkwy.
Suite 100
Reno, NV 89511
775 336 4699 Fax
Laguna Terrace at Virginia Lake
2490 Eastshore Drive
PRICING
$19,000,000
Price:
Cap Rate:
Total Units:
Building SF:
Price/Unit:
Price/SF:
Terms:
7.00%
24
18,000 sf
$78,750
$105.00
All Cash
Home | People | Office | REALTrac™ Login | Contact
AMENITIES
N A I A L L I A N C E M U LT I-H O U S I N G D I V I S I O N I S P L E A S E D T O A N N OUNCE
Clubhouse
Computer Room
Community Kitchen
Fitness Center
Spa/Hot tub
Outside Barbeque
Tennis Court
Sand Volleyball
Heated Swimming Pool
Wood Floors (In Some Units)
Fireplace (In Some Units)
Private Balcony/Patio
Air Conditioning
Walk-in Closets
Ceiling Fans
Laundry Rooms
the opportunity for qualified investors to purchase Hampden Heights, a 376 unit apartment community located in
Denver, Colorado. DEBT ASSUMPTION: The sale is subject to the assumption of debt, which is currently below
market rate at 5.91% interest and matures on July 1, 2014. Please see page 26 in the offering for a full debt
summary.
Built in 1974, Hampden Heights is situated between Downtown Denver and the Denver Technological Center (DTC),
providing residents a short commute to Denver’s two largest employment centers. Just one and a half miles east
of the Southmoor Light-Rail Station, residents have access to over 35 miles of shopping, restaurants, and arts &
entertainment along the light rail system, making it a convenient choice for residents who want access to Downtown
Denver, but prefer a more suburban home. Just south of Hampden Heights, the Denver Technological Center,
Aerial Photo
Property Photos
Confidentiality Agreement
Laguna Terrace at Virginia Lake
City, State
Reno, NV
INCOME
No.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Unit Number Unit Type
2704
2 Bd/1.5 Ba
2706
2 Bd/1.5 Ba
2708
2 Bd/1.5 Ba
2710
2 Bd/1.5 Ba
2712
2 Bd/1.5 Ba
2714
2 Bd/1.5 Ba
2716
2 Bd/1.5 Ba
2718
2 Bd/1.5 Ba
2802
2 Bd/1.5 Ba
2806
2 Bd/1.5 Ba
2900
2 Bd/1.5 Ba
2902
2 Bd/1.5 Ba
2906
2 Bd/1.5 Ba
2914
2 Bd/1.5 Ba
3002
2 Bd/1.5 Ba
3006
2 Bd/1.5 Ba
3008
2 Bd/1.5 Ba
3014
2 Bd/1.5 Ba
3018
2 Bd/1.5 Ba
3104
2 Bd/1.5 Ba
3106
2 Bd/1.5 Ba
21 Units
1
1
1
1
1
1
1
1
2908
2 Bd/1.5 Ba
2910
2 Bd/1.5 Ba
2912
2 Bd/1.5 Ba
3004
2 Bd/1.5 Ba
3010
2 Bd/1.5 Ba
3012
2 Bd/1.5 Ba
2904
2 Bd/1.5 Ba
3000
2 Bd/1.5 Ba
29 vg SF / Monthly Rent
Potential Annual Market Rent
Less: Loss to Lease
GROSS POTENTIAL RENT
Property Key
19. AT&T
20. Baseball Stadium Site
21. Park Center Tower - MT Office
22. Developed Land For Sale
23. Sienna Hotel and Casino
24. County Owned Land
25. Post Office
7. Fitzgerald’s Hotel and Casino
13. Palladio - Residential
8. The Montage - Residential
14. 100 N. Sierra - Mixed Use
Washoe
9. Residences at Riverwalk Towers 15. Vacant
10. Arlington Towers Condominiums
16. Cal Neva Hotel & Casino
019-460-03 to 10,
11. Parking
Garage - MT019-460-16
17. City Hall
Retail
019-460-14,
to 32,
18. Nevada Bell
12. Riverside 12 Movie Theater
019-460-34, 019-460-37,
019-460-38
TOTAL BUILDING SF
MT - Multi-Tenant
Composite Siding
Four 2-story buildings
Total SF
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
36,569
Kelly Bland
20 1st Loan Debt Service
DSC
1.48
PRE‐TAX NET CASH FLOW
[email protected]
[email protected]
Dominic Brunetti
Mark Keyzers
23 Depreciation‐Improvement
24 Depreciation‐FF&E
CASH FLOW after DEPRECIATION
27.5 yrs
7 yrs
[email protected]
[email protected]
PRICE and TERMS
Central
1.0% $ 3,596
1.0% $ 3,596
0.0% $ ‐
0.0% $ ‐
2.0% $ 7,192
1st Loan @
Seller Carry 2nd @
% Cash Down
Cash on Cash Return
contact information
Paid by Owner
Morgan Walsh
Alliance
775 336 4646 Direct
www.naialliance.com
ACTUAL RENT
1
2 Bedroom / 1 Bath TH
$825
2
2 Bedroom / 1 Bath TH
$825
3
2 Bedroom / 1 Bath TH
$825
4
$ 2,167
$ 10,235
$ 1.72
$ 8.12
58.8% $ 200,828
$ 6,923
$ 5.49
26.7% $ 95,977
$ 3,312
$ 2.63
80.0% $ 139,102
0.0% $ ‐
$ 235,079
$ 4,797
$ ‐
$ 8,109
$ 4
$ ‐
$ 7
$825
$825
$ 3,347,134 $ 115,418
$ ‐
$ ‐
$ 1,530,118 $ 52,763
6.27%
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
The NAI Alliance Multi-Family Division
$825
exists for one reason: to help investors
$825
2 Bedroom / 1 Bath TH
$825
achieve maximum value in the purchase
2 Bedroom / 1 Bath TH
$825
and sale of their assets.
12
13
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
For more information, please
contact:
2 Bedroom / 1 Bath TH
$825
2 Bedroom / 1 Bath TH
$825
16
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
$825
2 Bedroom / 1 Bath TH
$825
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
$825
2 Bedroom / 1 Bath TH
$825
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
$825
2 Bedroom / 1 Bath TH
$825
27
2 Bedroom / 1 Bath TH
Dan Oster
Senior Associate
T 775.336.4665
[email protected]
6995 Sierra Center Parkway, Suite 100 Reno NV 89511
(775) 336-4600
Multi-Family Specialist
775 336 4646
Alliance
Commercial Real Estate Services, Worldwide.
Multi-Family Division
www.naialliance.com
$825
28
2 Bedroom / 1 Bath TH
$825
29
2 Bedroom / 1 Bath TH
$825
$ 91.53
$ ‐
$ 41.84
J. Michael Hoeck, SIOR
Senior Vice President
T 775.336.4621
[email protected]
[email protected]
$825
25
26
Home | Contact | Privacy | Site Admin | Member Sites
For additional information, please contact:
$825
$825
22
23
24
Morgan Walsh
$825
$825
18
19
21
Paul Perkins, CCIM, SIOR
Senior Vice President
T 775.336.4660
[email protected]
$825
$825
14
15
17
Total
Per Unit
Per SF
$ 47,810,620 $ 164,883 $ 130.76 Loan balance (1/13/
6.21% $ 13.30
$ 168,181 $ 133.37
6.09% $ 13.56
Interest
6.0%
$825
$825
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
8
9
$ 4,877,020
LTV
70.00%
n/a
32.00%
2 Bedroom / 1 Bath TH
2 Bedroom / 1 Bath TH
6
7
10
11
contact information
Morgan Walsh
Alliance
Multi-Family Specialist
[email protected]
UNIT TYPE
5
‐
7/31/2009
‐
4/17/2009
‐
‐
‐
‐
Leased = 13 units
Leased = 45%
$ 124 $ 0.10
$ 124 $ 0.10
$ ‐ $ ‐
$ ‐ $ ‐
$ 248 $ 0.20
17.5% $ 63,022
82.5% $ 296,805
PRICE with ‐2% Closing cost
Cap Rate /
Paid by Resident
WATER/SEWER/TRASH
$ 0.87
$ 0.91
$ 0.91
$ 0.95
$ 0.95
$ 0.95
$ 0.91
$ 0.91
$ 0.91
$ 10.94
$ ‐
$ 10.94
4.99% $ 19,980 $ 690 $ 0.55
4.99% $ 19,980 $ 690 $ 0.55
0.00 $ ‐ $ ‐ $ ‐
100.0% $ 360,240 $ 12,420 $ 9.84
PRICE
Electric 40 Gallon tank per unit
GAS/ELECTRIC
Commercial Real Estate Services, Worldwide.
Total Stabilized Income/Expense
1/13/2009
Total
Per Unit
Per SF Lease Expiration
$ 1,100 $ 1,100 $ 0.87
‐
$ 1,100 $ 1,100 $ 0.87
‐
$ 1,150 $ 1,150 $ 0.91
8/12/2009
$ 1,100 $ 1,100 $ 0.87
‐
$ 1,100 $ 1,100 $ 0.87
‐
$ 1,200 $ 1,200 $ 0.95
10/2/2009
$ 1,200 $ 1,200 $ 0.95
5/2/2009
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,200 $ 1,200 $ 0.95
4/30/2009
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,150 $ 1,150 $ 0.91
7/31/2009
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,100 $ 1,100 $ 0.87
4/17/2009
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,150 $ 1,150 $ 0.91
‐
$ 1,100 $ 1,100
$ 1,150 $ 1,150
$ 1,150 $ 1,150
$ 1,200 $ 1,200
$ 1,200 $ 1,200
$ 1,200 $ 1,200
$ 1,150 $ 1,150
$ 1,150 $ 1,150
$ 33,350 $ 1,150
$ 400,200 $ 13,800
0.00% $ ‐ $ ‐
$ 400,200 $ 13,800
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
Cap Rate / GRM
The information contained herein has been given to us by the owner of the property or other sources we deem reliable.
We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
UNIT
4.6% $ 16,568 $ 571 $ 0.45
7.1% $ 25,573 $ 882 $ 7.00
0.0% $ ‐ $ ‐ $ ‐
3.0% $ 10,789 $ 372 $ 0.30
0.8% $ 2,900 $ 100 $ 0.08
15.5% $ 55,830 $ 1,925 $ 7.83
Retail:
TOTAL EXPENSES
NET OPERATING INCOME
Scott Shanks
Units
29
20
EXPENSES | Non‐Controllable
13 Utility (water/sewer)
14 RE Taxes (paid quarterly)
15 HOA (CAM, Utility, Insurance) = Seller for 3 years @ $225/mo*
16 Management Fee (%GPI)
17 Insurance (content/liability)
Total Non‐Controllable
contact information
Office:
tel 775 336 4600
fax 775 336 4699
www.naiallinace.com
Central
A/C
SF
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
1,261
Lagoon
None
None
Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
Total Controllable
MF30 (30 units/acre)
Pitched asphalt shingle
Alliance
EXTERIOR
STRUCTURE
HEATING
View
Partial Lagoon
Lagoon
Lagoon
Lagoon
Lagoon (Model)
Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
Partial Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
Lagoon
33. Art Museum
26. Pioneer Center For Performing Arts
Less: Physical Vacancy
34. Museum Tower - MT Office
27. Riverside Artist Lofts
Less: Rental Concession
Less: Models/Employee Units
# of units ‐>
28. Washoe County District Court
35. B of A Building - MT Office
EFFECTIVE GROSS INCOME
29. Wingfield Towers
36. Federal Court House
EXPENSES | Controllable
30. City Owned Land
37. Nevada State Bank
10 Repairs & Maintenance
31. 241 Ridge Street - MT Office
38.
Wells Fargo Building - MT Office
11 G&A
12 Advertising & Marketing
32. 201 W. Liberty - MT Office
39.
350 S. Center (part of Mgmt. Fee)
- Washoe County
13 Replacement Reserves
±36,683 sf
ZONING
INDUSTRIAL GROUP
naialliance.com/IndustrialGroup
Just Reduced to $17.5 Million
We obtained the information above from sources we believe to be reliable.
However, we have not verified its accuracy and make no guarantee, warranty or
representation about it. It is submitted subject to the possibility of errors,
omissions, change of price, rental or other conditions, prior to sale, lease or
financing, or withdrawal without notice. We include projections, opinions,
assumptions or estimates for example only, and they may not represent current
or future performance of the property. You and your tax and legal advisors should
conduct your own investigation of the property and transaction.
RENT ROLL
OPERATING DATA
Property Name / Address
Laguna Terrace / 2700‐3106 Eastshore Drive
24
ROOF
Properties
Dave Simonsen, CCIM, SIOR
Senior Vice President
T 775.336.4667
[email protected]
2490 Eastshore Drive
PROPERTY INFORMATION
Market Reports
metro Denver with a workforce of over 150,000 people. Hampden Avenue (US 285) is a major thoroughfare across
Metro Denver, with an average daily traffi c count of 57,800 vehicles just east of I-25 on Hampden Avenue.
PARCEL MAP
FOUNDATION
Block foundation with crawl space
Commercial Real
Estate Services, Worldwide.
News
The information contained herein has been given to us by the owner of the property or other sources we deem reliable.
We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2490 Eastshore Drive
HOT WATER
Services
Investment Brochure
Document Center
Greenwood Plaza, Inverness, and Meridian International Business Center, form the largest employment center in
Downtown
Reno
Laguna Terrace at Virginia
Lake
1. Tradewinds - Residential
2. EldoradoCOUNTY
Parking Garage
3. Eldorado Hotel and Casino
4. Reno Events Center
5. National Bowling Stadium
NUMBERS
6. Harrah’s PARCEL
Hotel and
Casino
About Us
Pfizer Logistics Center
Multi-Family Specialist
[email protected]
Commercial Real Estate Services, Worldwide.
775 336 4646 Direct
www.naialliance.com
The information contained herein has been given to us by the owner of the property or other sources we deem reliable.
We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
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Laguna Terrace at Virginia Lake
2490 Eastshore Drive
Reno, NV 89509
County: Washoe
Laguna Terrace at Virginia Lake
2700-3106 Eastshore Drive
Laguna Terrace at Virginia Lake
Morgan Walsh (
Photos
775) 336-4646
For Sale
Image 1 of 1
Active
Options
Type:
Multifamily
Garden/Low-Rise
Comparables
No. Units:
29
Email Listing
Building Size:
21,216 SF
Lot Size:
1 SF
Price:
$000,000
Price/Unit:
$0
Flyer
Map / Aerial
GRM:
10
Demographics
Cap Rate:
36.55%
Date Last Verified:
12/10/2008
Print
Summary
Property ID:
15953095
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Get Financing
2490 Eastshore Drive -
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Attachments
226 KB
Flyer
Additional Information
Property Description:
The subject property was built in 1974 and is comprised of three, 2-story buildings, a swimming pool, onsite laundry facilities and
ample parking. Situated on almost 1 acre, there are 4-jr. 1br/1ba units, 10-1br/1ba units and 14-2br/1ba units (totaling 28 units). The
buildings are of wood-frame construction with wood exteriors. The roofs are û at tar and gravel with a wood shingle mansard. The
onsite laundry facility has 3 washers and 3 dryers (leased).
Location Description:
The City of San Jose is the 10th largest city in the U.S. and the 3rd largest city in California. San Jose is home to the largest
concentration of technology expertise in the world--more than 6,600 technology companies employing more than 254,000 people.The
subject property is located in West San Jose in a quiet residential neighborhood of multi-family dwellings, condominiums and some
commercial uses. Directly across from the property is the prestigious Harker Middle School Campus (Grade 6-8) on 40 acres and
features outstanding athletic facilities and spacious grounds. Westgate Shopping Mall is located just 2 miles southwest of the property
while Westû eld Shopping Center and Santana Row shops and restaurants are located just 2 miles northeast of the property.
Financial Summary
Net Operating Income:
Actual
$167,675
Unit Mix Information
2br/1ba
No. Units: 14
SF: 865
Avg. Mo. Rent: $1,014
1br/1ba
No. Units: 10
SF: 691
Avg. Mo. Rent: $924
jr.1br/1ba
No. Units: 4
SF: 582
Avg. Mo. Rent: $788
Debt & Equity Information
No Debt & Equity Information Provided
OFFERING MEMORANDUM
Alliance
Commercial Real Estate Services, Worldwide.
The information contained herein has been given to us by the owner of the property or other sources we deem reliable.
We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
contact information
Morgan Walsh
Multi-Family Specialist
[email protected]
775 336 4646 Direct
775 336 4699 Fax
www.NAIAlliance.com
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informed :
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