Investment Overview

Marcus & Millichap is pleased to present for sale The Berger Portfolio, an exceptional investment opportunity. Situated on approximately 2.31 acres of nearly adjacent parcels, this six-asset package totaling 67 units is comprised of One--, Two-- and three-bedroom apartments. This opportunity offers a rare chance to acquire assets at scale in a highly desirable location, within walking distance to both the University of Nevada and downtown Reno. Value-Add Opportunity: One of the key highlights of this investment is the opportunity to capture the embedded Loss-to-Lease, approximately 18.41%, between current and market rents through implementing a strategic rent increase plan. These properties are also staged for an investor to execute an interior renovation play to further increase rents, resulting in increased revenue and improved returns. Utility Bill Back Program: Another avenue for potential upside lies in the implementation of a utility bill back program to recapture a portion of the expenses for the owner. The well-maintained condition and favorable location of the portfolio, coupled with the value-add potential through rent adjustments, renovation upside, and the utility bill back program, positions this investment for substantial upside in both cash flow and property value. Considering the strong market fundamentals and the property's micro-location, this investment comprises a favorable return for years to come.