SOLD | 516 Ryland St, Reno | 2 Units | $310k

INVESTOR ALERT! This wonderfully crafted bungalow offers multiple opportunities for the savvy investor. With its mixed use zoning, you'll have the flexibility to use the space as residential multi-family or convert it to office space for those who want to take advantage of its prime location sitting at the corner of the ever popular Midtown District and Downtown Reno. The main floor, first unit consists of two bedrooms and 1 bathroom, while the downstairs offers 1 bedroom and 1 bathroom. With the upstairs as vacant and the lower tenant on a month to month lease the new owner could quickly adopt the property to their intended use.

The kitchen in the main floor unit is currently incomplete, lacking all appliances, but can easily be finished for anyone using the space for residential purposes, or leave it as-is if your intended use is office space. Laundry in the basement, but not on the main level. The top unit was recently vacated and the bottom unit houses a long-term tenant who is using the space as a "work from home" office.

1. MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE
516 RYLAND ST, RENO, NV 89502

2. section 1
section 2
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Trevor Richardson, Commercial Agent
Multifamily Specialist
EMAIL [email protected]
OFFICE775.850.3031
CELL 775.233.0754
Natalie Richardson, Realtor
Residential Specialist
EMAIL [email protected]
OFFICE775.850.3031
CELL 775.233.0754
OFFERING SUMMARY






FINANCIAL ANALYSIS






PROPERTY PHOTOS






TABLE OF CONTENTS
SMALL MULTIFAMILY
Small multifamily properties are commercial investment
properties ranging from a duplex on up to 10 units. In the
Reno/Sparks metro they have both commercial and
residential aspects that require professionals from both
fields to maximize their potential and provide a higher
quality service for buyers and sellers of these properties.
1MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
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LOCATION






REGIONAL INFO / DEMOGRAPHICS

3. Property Description Offering
PARKING VIEW
Asking Price $375,000
Rentable SF 2,168
Parking 1 Garage Detached
Possible Use Multifamily/Office
Occupancy/Unit Vacant/M-T-M
Location Downtown/Midtown
OFFERING HIGHLIGHTS
Units Two Duplex Units
2MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
516 RYLAND ST - OFFERING SUMMARY
INVESTOR ALERT! This wonderfully crafted bungalow offers multiple opportunities for the savvy investor. With its mixed use zoning, you'll have
the flexibility to use the space as residential multi-family or convert it to office space for those who want to take advantage of its prime location
sitting at the corner of the ever popular Midtown District and Downtown Reno. The main floor, first unit consists of two bedrooms and 1
bathroom, while the downstairs offers 1 bedroom and 1 bathroom. With the upstairs as vacant and the lower tenant on a month to month lease
the new owner could quickly adopt the property to their intended use.

The kitchen in the main floor unit is currently incomplete, lacking all appliances, but can easily be finished for anyone using the space for
residential purposes, or leave it as-is if your intended use is office space. Laundry in the basement, but not on the main level. The top unit was
recently vacated and the bottom unit houses a long-term tenant who is using the space as a "work from home" office.




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4. Offering Summary
3MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
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PAGE 1
516 Ryland
Property

Unit Mix

Offering Price $375,000 Unit Type Type Building #Lease Lease Exp.# UnitsSF Rent Current
Rent
Proforma
$/SF $173 Apartment 2/1 AVacant - 1 1,084 $1,200 $1,250
$/UNIT $187,500 Apartment 1/1 A M-T-M - 1 1,084 $800 $1,000
Address 516 Ryland
City Reno
State NV
Zip 89502
Property Name Ryland Office/Apts.
Property Type Mixed-Use
Zoning MUDR
Assessor's Parcel #013-011-25
# Units 2
# Buildings 1
Rentable SF 2,168
Lot Size (AC) 0.081
Status On Market

5. Financial Analysis Cash Flow Summary
4MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
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Acquisition Assumptions

Actual - Page 3

Proforma - Page 4
Listing Price $375,000 Income $ % /Mo Income $ % /Mo
$/Unit $187,500 GRI $24,000 $2,000 GRI $27,000 $2,250
Vacancy (720.00) -3% (60) Vacancy (810.00) -3% (68)
Other Income $0 $0 Other Income $0 $0
Net Income $23,280 $1,940 Net Income $26,190 $2,183

Expenses Expenses
Total (4,464.00)-19.18% (372) Total (4,464.00)-17.04% (372)

Net Operating Income Net Operating Income
Total $18,816 $1,568 Total $21,726 $1,811

CAP RATE @ ASKING PRICE PROFORMA CAP RATE @ ASKING PRICE
LISTING PRICE $375,000
5.02%
5.79%
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6. Financial Analysis Actual
5MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
PAGE 3
Annual Expenses 2015

Property Income
Expense Cost % GI Unit Type Product TypeBuilding ## Units SF Current Rent
Taxes $1,190 4.96% Apartment 2/1 A 1 1,084 $1,200
Insurance $534 2.23% Apartment 1/1 A 1 1,084 $800
Utilities $940 3.92%
Maintenance* $1,800 7.50%

0.00%
0.00%
Total (4,464.00) -18.60% Gross Rental Income (GRI) $24,000 Other Income
*Annual Assumptions Vacancy 3.0%(720.00) Laundry $0
Net Operating Income (NOI) Net Rental Income $23,280 $0
$18,816

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7. Financial Analysis Proforma
6MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
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Annual Expenses

Proforma Property Income
Expense Cost % GI Unit Type Product TypeBuilding ## Units SF Proforma Rent
Taxes $1,190 4.41% Apartment 2/1 A 1 1,084 $1,250
Insurance $534 1.98% Apartment 1/1 A 1 1,084 $1,000
Utilities $940 3.48%
Maintenance* $1,800 6.67%


0.00%
Total (4,464.00) -16.53% Gross Rental Income (GRI) $27,000 Other Income
*Annual Assumptions Vacancy 3.0%(810.00) Laundry $0
Net Operating Income (NOI) Net Rental Income $26,190 $0
$21,726

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8. Property Photos Exterior
7MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
STREET VIEW DRIVEWAY VIEW - LOWER UNIT ACCESS
LOWER UNIT ACCESS GARAGE
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9. Property Photos Interior
8MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
UPPER UNIT - ENTRY UPPER UNIT - KITCHEN
UPPER UNIT - BATH UPPER UNIT - ROOM
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10. Location Assessor Map
9MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
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11. Location Regional Info Map
10MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
SOMERSETT GOLF
COMMUNITY
UNIVERSITY OF
NEVADA, RENO
LAKE TAHOE
TAHOE RENO
INDUSTRIAL
CENTER (TRIC)

TESLA MOTORS
GIGAFACTORY

SWITCH SUPERNAP

APPLE DATA
CENTER
DOWNTOWN RENO
RENO TAHOE
INTERNATIONAL
AIRPORT
CALIFORNIA
NW RENO
TRUCKEE, CA
SPARKS
MIDTOWN RENO
WINGFIELD SPRINGSNORTH VALLEYS
SOUTH RENO
516 RYLAND ST

INTERSTATE 80

INTERSTATE 580

SE CONNECTOR
(UNDER CONST.)


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12. Location Neighborhood Info Map
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
777 CENTER
DEVELOPMENT

THE STICKS
DEVELOPMENT

516 RYLAND ST

DISCOVERY
MUSEUM




MIDTOWN
ACES BALLPARK
BUSINESS CORE
DOWNTOWN RENO
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13. Downtown Reno Redevelopment
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
516 RYLAND ST
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14. Midtown Reno Redevelopment
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
NEWLY COMPLETED 777 CENTER DEVELOPMENT - NEW OFFICE AND RETAIL SPACE
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MIDTOWN RENO
Midtown is a special part of Reno. It's a commercial-centric corridor in the center of town that parallels Virginia and Center Streets, just south of
downtown, from about Liberty Street to Mt. Rose Street. Featuring an eclectic range of businesses from one-of-a-kind restaurants to mom-and-pop
hardware stores, Midtown is the most small-business-dense section of Reno. A wide range of businesses front Center Street, including Maytan Music
Center, Achieve Fitness, Crystal Springs, Aspen Electric, GuiDenby, Rose's Cafe, and more. A block or so off Center Street but still in the MidTown
district you will find even more eclectic businesses, such as the highly acclaimed Junkee Clothing Exchange, Sup Restaurant, MidTown Eats, Creme
and a group of highly regarded tattoo, body piercing and skate shops. On the southern edge of MidTown, you'll find a newly renovated shopping
center on the corner of Virginia and Mt. Rose, featuring the new home of Sushi Pier 2, a great bookstore, Zephyr Books, and more.
- downtownmakeover.com





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15. Midtown Reno Redevelopment
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502 14
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16. Market Info Reno/Sparks
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
RENO, NEVADA
The Greater Reno/Sparks 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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17. Market Info Major Regional Developments
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
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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18. Demographics Overview
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE
POPULATION
2016 Estimated population 19,805 126,138 235,263
2021 projected population 20,837 132,391 246,705
HOUSEHOLDS
2016 Estimated households 9,280 51,864 92,798
2021 projected households 9,835 54,246 96,875
2016 Est. Median HH Income $25,468 $35,072 $40,282
2016 Est. Average HH Income $39,400 $49,270 $58,092
2016 Est. Per Capita HH Income $21,361 $21,449 $23,662
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2015 and 2020.
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19. Why Northern Nevada?
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
The Greater Reno/Sparks area is starting to see and feel the
unprecedented growth in the area thanks to many key factors.
Thanks to Tesla’s new Gigafactory, an economic and
technological revolution is on its way, providing 6,500 new jobs
at peak production. Currently, Reno has experienced a 14.7%
growth in manufacturing employment over the past five years.
Nevada's unemployment rate has gone down for five years
straight after peaking at 13.1 percent in November, 2010,
according to a Nevada Department of Employment report. The
Reno/Sparks area currently sits at a 5.5 percent unemployment
rate as of July, 2016.
The Economic Development Authority, or EDAWN, projects
50,000 new jobs will open in Reno-Sparks in the next five years,
meaning 9,000 homes need to be built each year leading up to
2020. 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.”





WHY MOVE TO THE RENO/SPARKS AREA?
According to the Whitney Group, a leader for over 30 years in
providing market research and feasibility analysis in the
western United States , it’s believed that the housing demand
and valuations are on the verge of accelerating over the near
term to perhaps historical heights never before experienced in
the greater Reno region.
It is also being noted that Nevada state taxable sales are near
an all-time high thanks to the strong economic recovery &
visitors, according to the Nevada Department of Taxation.
Specifically, Washoe County and surrounding areas are seeing
the highest taxable sales since before 2006. Washoe County
alone experienced a 15-20% increase of visitors to the area in
February 2015 as opposed to the same time the previous years.
With the area's proximity to California, Lake Tahoe and all the
Sierras have to offer, the Greater Reno-Sparks area is proving to
be one of the nation’s top area’s to live, work, and play.





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20. Why Northern Nevada?
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
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 2013.





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
#3
#2
#8
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21. Why Northern Nevada?
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
Labor Force
Greater Reno/Sparks/Tahoe has an existing labor force of over
220,000 with a close proximity to metros such as Sacramento
and San Francisco, and the quality of life to attract top young
professionals. Area industry and business leaders consistently
give the regional labor pool top marks for productivity and
quality.
Employers are able to connect with students at the University
of Nevada, Reno, top-ranked in business, engineering and
medicine, Truckee Meadows Community College, offering
customized skills training, the Desert Research Institute and
other higher education facilities in the region.
Recent economic changes have created huge opportunity for
employers looking to relocate or expand. Greater
Reno/Sparks/Tahoe has a readily available workforce of nearly
25,000 skilled in manufacturing, logistics, software
development, business, administrative services and more.





RENO IS BUSINESS FRIENDLY
Fiber Availability
Reno has a state of the art, 100 percent digitally switched
telecommunication network and high-capacity fiber optic
infrastructure to attract and keep companies that require
quality high speed connectivity. Reno has over 550 Fiber Lit
buildings and over 1,400 miles of fiber.
Reno office buildings have access to dedicated internet
services, scaled to the needs of local businesses. Delivered via
a direct fiber optic connection, this Ethernet-based service
easily integrates with local office area networks making for a
more convenient setup.






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22. Education
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
The University of Nevada, Reno, plays an integral role with
developing and maintaining a diverse and professional
business economy in the Reno/Sparks/Tahoe area. Located
just north of the downtown district, the UNR campus provides
145 undergraduate and 124 graduate programs for one of the
more affordable universities in the area. Current students pay
80 percent less than the average Tier 1 Institution, making UNR
one of the most affordable and high-quality universities in the
West.
The College of Business in particular is one of the strongest
assets for the university, offering degree programs ranging
from accounting and business administration to information
systems and gaming management. The College of Business
even offers minor degrees for cyber security and
entrepreneurship, both vital assets for professional labor in
today’s economy.
Beyond providing a high quality and affordable education for
its students, UNR is dedicated to building a genuine sense of
community in Northern Nevada. The College of Business
houses the Ozmen Center for Entrepreneurship and the Nevada
Small Business Development Center, giving students, faculty
and local aspiring business professionals the opportunity to
collaborate on entrepreneurial ideas or endeavors.





UNIVERSITY OF NEVADA, RENO
The university recently opened the InNEVation Center,
Powered by Switch, in Fall 2015 to serve as a center for
collaboration between local technology developers,
entrepreneurs and researchers. The InNEVation Center
emphasizes drone research, which has contributed to Northern
Nevada’s rapidly growing reputation as a hotbed for drone
research.




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23. Housing Summary
MIDTOWN RENO DUPLEX/OFFICE SPACE FOR SALE 516 RYLAND ST, RENO, NV 89502
The Economic Development Authority of Western Nevada
(EDAWN) listed Affordable Housing as the No. 1 challenge to
the New Reno/Sparks according to the EDAWN Economic
Update on January 14, 2016. The median home prices have
doubled in the past 4 years leading to declining opportunity for
the lower class Northern Nevada workforce.
The Months of Inventory for affordable housing in the $300,000
and below range remains low at 42 Days of inventory,
according to data supplied by the Northern Nevada Multiple
Listing Service as of August 29, 2016.

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