Investment Overview

INVESTMENT OVERVIEW Marcus & Millichap is proud to present for sale 570 Grand Canyon Boulevard, a 13 unit multifamily investment property located within the Wells Avenue District, and within walking distance to MidTown, the Reno Public Market, and the Reno Experience District. The Asset has been cared for by the current owner and is positioned for a new investor to implement a value-add strategy through interior renovations. The unit mix consists of 7 one-bed/one-bath and 6 two-bed/one-bath units that each have either a patio on the ground floor or a balcony on the second floor, that can be accessed through sliding glass doors. The units also feature a full kitchen appliance package, wall-unit A/Cs, and either a forced air or gas heater. The asset also features ample off-street parking, an on-site laundry facility, and mature landscaping. 570 Grand Canyon is located within the path of progress as numerous new developments and improvements have been made to the surrounding neighborhood. The Reno Public Market, formerly Shoppers Square, underwent a $50 million rehabilitation and is designed to be a modern gathering center that hosts numerous local and national businesses, including Sprouts and CVS, as well as serving as an event center for the community to enjoy. The Reno Experience District is currently under construction but is expected to feature more than 65,000sf of retail space throughout the community, and will become an epicenter of entertainment for Reno. Both are within a 10-minute walk from 570 Grand Canyon. ROBUST LOCAL ECONOMY Reno-Sparks has experienced impressive local employment growth as the area continues to attract a variety of well-regarded national corporations. Tesla, Apple, Google, Amazon, Blockchain LLC, Switch Digital, and Panasonic are only a few of the major employers that have brought thousands of new jobs to the region. Many of these companies are located at the Tahoe-Reno Industrial Center (TRI Center), the nation’s largest industrial park, which is just a short drive from the subject property. SURPLUS OF OUTDOOR LIFESTYLE ACTIVITIES Northern Nevada is home to some of the world’s premier outdoor recreation destinations including Lake Tahoe and the Black Rock Desert. 570 Grand Canyon is approximately a 45-minute drive to Lake Tahoe, featuring world-class ski resorts, beaches, and hiking trails. Less than an hour's drive to either the Boca and Stampede Reservoirs or Frenchman Lake, offering fishing, boating, camping, and other various outdoor and water activities. FAVORABLE TAX STRUCTURE The state of Nevada enjoys a favorable tax structure with no personal income tax, state tax, franchise tax, inventory tax, gift tax, or corporate tax. 570 Grand Canyon is being offered free and clear of existing debt and is also located within an Opportunity Zone.