Wheeler Apartments 342 Wheeler Ave Immeuble residentiel 16 lots 2 351 295 € (146 956 €/Lot) Taux de capitalisation 4,40 % Reno, NV 89502

Please do not disturb the property or tenants. Tours available upon request and must be scheduled through the listing agent.
Marcus & Millichap is pleased to present the opportunity to acquire 338 & 342 Wheeler Avenue, a well-maintained 16-unit multifamily asset ideally located at the
intersection of MidTown and the Wells Avenue District in Reno, Nevada. Owned by the same family since the 1980s, the property is now poised for a new owner to
unlock additional value through a programmatic interior renovation. The unit mix includes: 1 Studio, 7 One-Bedroom / One-Bath Units, and 8 Two-Bedroom / One-Bath
Units. Each unit features a refrigerator, stove, & dishwasher appliance package, a wall-unit A/C, and either forced-air or in-wall gas heater. The property offers ample
off-street parking, on-site laundry, and mature landscaping.
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Outstanding Location & Nearby Redevelopmen t
One of Wheeler's best benefits is its location and proximity to major redevelopments, and the ease of access t oe athmenities, jobs, and lifestyle that Northern Nevada has to
offer. The location is within walking distance of both Reno’s MidTown & Wells Avenue Districts that offer dining, nightlife, and boutique shopping experiences for the
entire City. Once a blighted area of Reno, the two Districts are now home to some of Reno’s best bars, restaurants and bring people from all over the city to experience
the best Reno has to offer. Other attractions, all walking distance to 338/342 Wheeler, are The Discovery Museum, Nevada Museum of Art, the Truckee River, and the
Pioneer Center for the Performing Arts.
Downtown Reno is currently undergoing several developments that are considerably improving the subm arket. Most significant is the Neon Line District, a one-billiondollar
investment that stretches from downtown Reno’s West Street to Keystone Avenue, and from Interstate-80 South to West Second Street. The Neon Line District is
designed to be an arts and entertainment zone that will include a mix of retail, dining, and living options. The developer has acquired dozens of properties and parcels
of land, and has over $400 million currently invested, including over $300 million into the renovation of the Sands Regency Casino Hotel, now J Resort, and another
$130 million committed to further improvements to J Resort.
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Strong Economic Drivers
The Reno-Sparks region has seen robust economic growth driven by the expansion of numerous n ationally recognized companies such as Tesla, Apple, Google, Amazon,
Panasonic, Switch Digital, and Blockchain LLC, as well as dozens of lesser-known employers that are creating thousands of jobs in the market. Many of these companies
operate out of the Tahoe-Reno Industrial Center (TRI Center), the largest industrial park in the U.S., located just a short drive from the property.
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Outdoor Lifestyle & Recreation
338/342 Wheeler is ideally situated for residents seeking an active lifestyle, offering quick access to premier outdoor destinations with a 45-minute drive to Lake Tahoe
offering world-class skiing, beaches, hiking, and mountain biking. And a 30-munite drive to Boca, Stampede, and Frenchman Lake, ideal for fishing, boating, and
camping. Other outdoor recreational locations such as golf courses, local parks, the Truckee River, and many more are all within close proximity to the property.
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Investor-Friendly Tax Environment
Nevada's favorable tax structure enhances the asset's investment appeal. The state levies no personal income tax, corporate tax, franchise tax, inventory tax, or gift tax.
Additionally, the property is located within a federally designated Opportunity Zone and is being offered free and clear of existing debt, providing flexibility for a variety of investment strategies.