SOLD | 1400 Como St, Reno | 12 Units | $1.1m | 5.8% Cap

CARSON CITY 12 UNIT MULTIFAMILY COMPLEX FOR SALE
1400,1404,1408 COMO ST, CARSON CITY, NV 89701

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Trevor Richardson, Commercial Agent
Multifamily Specialist
EMAIL trichardson@dicksoncg.com
OFFICE 775.850.3031
CELL 775.233.0754
OFFERING SUMMARY
FINANCIAL ANALYSIS / MARKET RENT
RATES
PROPERTY PHOTOS
TABLE OF CONTENTS
1CARSON CITY 12 UNIT MULTIFAMILY COMPLEX FOR SALE 1400,1404,1408 COMO ST, CARSON CITY, NV 89701
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LOCATION
REGIONAL INFO / DEMOGRAPHICS

Property Description Offering
Asking Price $1,100,000
Rentable SF 13,932
Parking On Site Parking
BR/BA ALL 3 BR / 2 BA
Current Rents Under Market
Location Carson City
OFFERING HIGHLIGHTS
Units 12 Units
2
Cap Rate/Proforma Cap Rate 5.8% / 7.2%
1400,1404,1408 COMO ST
Located minutes from the heart of Carson City and Sparks High School this
12-unit apartment complex features large 3BR, 2BA, 1,161 SF living spaces. The
central location provides tenants easy and quick access to all areas of the city.
Each unit features a designated parking space per unit and also comes with an
outside storage unit, which is always an added bonus. Each unit has
individually metered power and gas, and comes with washer and dryer units.
Tenants will enjoy wall mounted A/C units and forced air heating.
All 12 units underwent major renovations within the last few years totaling
approximately $650,000 in costs. The Carson City market is experiencing a high
demand for rental units in recent years, leading to the possible opportunity to
increase current rental rates and the yearly income for the new owner over the
coming years.
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Lease Terms 6 mo./M-T-M
OVERHEAD VIEW
CARSON CITY 12 UNIT MULTIFAMILY COMPLEX FOR SALE 1400,1404,1408 COMO ST, CARSON CITY, NV 89701
*Dickson Commercial Group and Trevor Richardson do not guarantee any proforma or possible rental rate projections

Property Renovations
RENOVATIONS HIGHLIGHTS
3
section 1
● NEW CABINETS
● REPLACED SUBFLOOR/FLOORING
● ELECTRICAL FIXTURES
● DOOR MOLDING INSTALLED
● ALL WINDOWS REPLACED
● DISHWASHERS INSTALLED
● ALL NEW BATHROOMS/FIXTURES/HARDWARE
● MOST FURNACE UNITS REPLACED
● STORAGE UNITS ADDED
● CARPET/PAINT/CEILINGS REPLACED
● ALL NEW FRONT DOORS AND HARDWARE REPLACED
● METAL SECURITY DOORS INSTALLED ON ALL UNITS
● ROOF IS 10 YEARS OLD
● ALL PORCHES AND STAIRS RENOVATED
● LANDSCAPING AND CONCRETE RECREATION AREAS
INSTALLED AND FENCED
● ALL FENCING REPLACED AROUND THE PERIMETER

Offering Summary
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section 2
PAGE 1 1400,1404,1408 Como St
Property Unit Mix
Offering Price $1,100,000 Unit Type Product Type Building # # Units SF Rent Current Rent Proforma
$/SF $79 Apartment 3/2 A 1 1,161 $760 $850
$/UNIT $91,667 Apartment 3/2 A 1 1,161 $685 $850
Address 1400,1404,1408 Como St Apartment 3/2 A 1 1,161 $760 $850
City Carson City Apartment 3/2 A 1 1,161 $750 $850
State NV Apartment 3/2 B 1 1,161 $695 $850
Zip 89701 Apartment 3/2 B 1 1,161 $760 $850
Property Name Como St 12 Unit Multifamily Apartment 3/2 B 1 1,161 $760 $850
Property Type Multifamily Apartment 3/2 B 1 1,161 $695 $850
Zoning MFA Apartment 3/2 C 1 1,161 $760 $850
Assessor's Parcel # 004-112-07 (05) (06) Apartment 3/2 C 1 1,161 $685 $850
# Units 12 Apartment 3/2 C 1 1,161 $760 $850
# Buildings 3 Apartment 3/2 C 1 1,161 $685 $850
Rentable SF 13,932
Lot Size (AC) 0.47
Status Off Market

Financial Analysis Cash Flow Summary
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PAGE 2
Acquisition Assumptions Income & Expenses - Page 3 Proforma - Page 4
Listing Price $1,100,000 Income $ % /Mo Income $ % /Mo
$/Unit $91,667 GRI $108,085 $9,007 GRI $125,425 $10,452
Vacancy (3,242.55) -3% (270) Vacancy (3,762.75) -3% (314)
Other Income $3,025 $252 Other Income $3,025 $252
Net Income $107,867 $8,989 Net Income $124,687 $10,391
Expenses Expenses
Total (43,772.50) -40.58% (3,648) Total (45,506.50) -36.50% (3,792)
Net Operating Income Net Operating Income
Total $64,095 $5,341 Total $79,181 $6,598
CAP RATE @ ASKING PRICE PROFORMA CAP RATE @ ASKING PRICE
LISTING PRICE $1,100,000 5.83% 7.20%

Financial Analysis Actual
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PAGE 3
Annual Expenses 2015 Property Income
Expense Cost % GI Unit Type Product Type Building # # Units SF Current Rent
Taxes $4,200 3.89% Apartment 3/2 A 1 1,161 $760
Insurance $5,663 5.24% Apartment 3/2 A 1 1,161 $685
Utilities $13,101 12.12% Apartment 3/2 A 1 1,161 $760
Maintenance* $10,000 9.25% Apartment 3/2 A 1 1,161 $750
Management $10,809 10.00% Apartment 3/2 B 1 1,161 $695
Apartment 3/2 B 1 1,161 $760
Apartment 3/2 B 1 1,161 $760
Apartment 3/2 B 1 1,161 $695
0.00% Apartment 3/2 C 1 1,161 $760
0.00% Apartment 3/2 C 1 1,161 $685
0.00% Apartment 3/2 C 1 1,161 $760
0.00% Apartment 3/2 C 1 1,161 $685
Total (43,772.50) -40.50% Gross Rental Income (GRI) $108,085 Other Income
*Annual Assumptions Vacancy 3.0% (3,242.55) Section 8 Income $2,660
Net Operating Income (NOI) Net Rental Income $107,867 Late Fees $365
$64,095 $10,809

Financial Analysis Proforma
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PAGE 4
Annual Expenses Proforma Property Income
Expense Cost % GI Unit Type Product Type Building # # Units SF Proforma Rent
Taxes $4,200 3.35% Apartment 3/2 A 1 1,161 $850
Insurance $5,663 4.52% Apartment 3/2 A 1 1,161 $850
Utilities $13,101 10.45% Apartment 3/2 A 1 1,161 $850
Maintenance* $10,000 7.97% Apartment 3/2 A 1 1,161 $850
Management $12,543 10.00% Apartment 3/2 B 1 1,161 $850
Apartment 3/2 B 1 1,161 $850
Apartment 3/2 B 1 1,161 $850
Apartment 3/2 B 1 1,161 $850
0.00% Apartment 3/2 C 1 1,161 $850
0.00% Apartment 3/2 C 1 1,161 $850
0.00% Apartment 3/2 C 1 1,161 $850
0.00% Apartment 3/2 C 1 1,161 $850
Total (45,506.50) -36.28% Gross Rental Income (GRI) $125,425 Other Income
Vacancy 3.0% (3,762.75) Section 8 Income $2,660
Net Operating Income (NOI) Net Rental Income $124,687 Late Fees $365
$79,181 $12,543

Carson City Apartment Rental Rates
MONTHLY RENTAL RATE REPORT
The following rental data consists of averages of market rents for Carson City 3 Bedroom Apartments, 5+ unit complexes only.
*Data provided by Costar
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8
3 Bedroom Units Asking Rent/Month

Rent Roll
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section 2
Unit # Unit BR Unit BA Unit SF Current Rent Rent/SF Lease Type Lease St. Lease End Unit Type
1400 -1 3 1 1,161 760 0.65 MtM Apartment
1400 -2 3 1 1,161 685 0.59 6 Mo 5/30/2016 5/31/2017 Apartment
1400 -3 3 1 1,161 760 0.65 MtM Apartment
1400 -4 3 1 1,161 750 0.65 MtM Apartment
1404 -1 3 1 1,161 695 0.60 6 Mo 2/1/10 2/28/17 Apartment
1404 -2 3 1 1,161 760 0.65 MtM Apartment
1404 -3 3 1 1,161 760 0.65 MtM Apartment
1404 -4 3 1 1,161 695 0.60 6 Mo 4/1/16 3/31/17 Apartment
1408 -1 3 1 1,161 760 0.65 MtM Apartment
1408 -2 3 1 1,161 685 0.59 6 Mo 3/1/12 2/28/17 Apartment
1408 -3 3 1 1,161 760 0.65 MtM Apartment
1408 -4 3 1 1,161 685 0.59 MtM Apartment

Photos Exterior
1408 COMO - STREET VIEW 1400 COMO - STREET VIEW
BACK YARD - STORAGE UNITS FOR EACH UNIT1404 COMO - STREET VIEW
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Interior Photos 3BR/2BA 1,161 SF UNITS
LIVING ROOM
KITCHEN/LIVING ROOM FULL KITCHEN
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CARSON CITY 12 UNIT MULTIFAMILY COMPLEX FOR SALE 1400,1404,1408 COMO ST, CARSON CITY, NV 89701 11

KITCHEN/LIVING ROOM
HALL FULL BATHROOM
HALL LAUNDRY
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BEDROOM -2 MASTER BEDROOM
BEDROOM - 1MASTER BEDROOM - FULL BATH
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Photos Utilities
SEPARATE POWER/UNIT
SEPARATE GAS/UNIT
AC UNITS
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Photos Utilities
FURNACE
1408 COMO FRONT DOOR
HOT WATER HEATER
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Location Assessor Map
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1400 COMO ST
16
1404 COMO ST
1408 COMO ST

Location Regional Info Map
NORTH VALLEYS
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TAHOE RENO
INDUSTRIAL
CENTER (TRIC)
*Access via USA
Parkway
TESLA MOTORS
GIGAFACTORY
SWITCH SUPERNAP
APPLE DATA
CENTER
17
1400 COMO ST
INTERSTATE 50
INTERSTATE 580
USA PARKWAY
(UNDER CONST.)
0:38 MIN
0:29 MIN
0:34 MIN
0:34 MIN

Location Neighborhood Info Map
COMO ST 12-PLEX
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CARSON HIGH SCHOOL
NSAILMANRD
CARSONST
DOWNTOWN CARSON
E 5TH ST
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NEVADA STATE
CAPITOL

Carson City Demographics Overview
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE
POPULATION
2016 Estimated population 8,978 50,431 56,879
2021 projected population 9,048 50,835 57,256
HOUSEHOLDS
2016 Estimated households 3,749 20,431 22,436
2021 projected households 3,783 20,631 22,628
2016 Est. Median HH Income $41,845 $49,500 $50,750
2016 Est. Average HH Income $52,506 $61,678 $64,284
2016 Est. Per Capita HH Income $25,945 $26,358 $27,409
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2016 and 2020.
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PROJECTED GROWTH
The Economic Development authority of Western Nevada EPIC report provides four possible growth
scenarios for a five-county study area comprised of Washoe, Storey, Carson, Douglas and Lyon
counties. The forecast indicates the region should potentially see job growth between 47,400 to
56,600 and population growth ranging from 42,400 to 64,700 from 2015 through 2019. - EDAWN

Market Info Northern Nevada
NORTHERN NEVADA
The Greater Northern Nevada 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 GIGAFACTORY
Costing $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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Why Northern Nevada?
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According to Livability.com’s “2016 Top 100 Best
Places to live” selected from over 2,000 cities.
HOW DOES NEVADA STACK UP?
According to Chiefexecutive.net’s “2016 Top 50 Best
Places to do business.”
Most Business-Friendly Tax Climate by the Tax
Foundation for 2017.
The Kauffman Foundation Index ranks Nevada as #2
of 25 in “Highest Startup Activity in 2016” for Smaller
States.
The Kauffman Foundation Index ranks Nevada as #8
of 25 in “Growth Entrepreneurship 2016” for Smaller
States.
#47
#9
#5
#2
#8

SOLD | 1400 Como St, Reno | 12 Units | $1.1m | 5.8% Cap

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