DCG Multifamily Reno Market Report April16

DCG MultifamilyReno Market Report

DicksonCG.com

APRIL2016

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APR16 - Reno Multifamily Sales

April 2016 Reno Multifamily Market Report

Address Sale Price # Units $/Door Sale Date Notes Area Year Built

826 G ST, Sparks, NV, 89431 $3,810,000 51 $74,706 4/29/2016 MF & SFR Assemblage Sparks Varies

325 Grand Canyon Blvd, Reno, NV 89502 $400,000 14 $28,571 4/13/2016 East Reno 1944

1275 Berrum Ln, Reno, NV 89509 $385,000 7 $55,000 4/15/2016 SW Reno 1944

782 Stewart St, Reno, NV 89502 $268,000 4 $67,000 4/29/2016 East Reno 1955

1025 Prater Way, Sparks, NV 89431 $162,500 2 $81,250 4/12/2016 Sparks 1964

2408 18th St, Sparks, NV 89431 $260,000 2 $130,000 4/14/2016 Sparks 1977

2000 Plumas St, Reno, NV 89509 $215,000 2 $107,500 4/26/2016 SW Reno 1939

1660 York Way, Sparks, NV 89431 $270,000 2 $135,000 4/29/2016 Sparks 1965

831 F St, Sparks, NV 89431 $274,500 2 $137,250 4/29/2016 Sparks 1981

Total Sales Avg. $/Door # Units Sold$6,045,000 $90,697 86

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APR16 - Reno Multifamily Sales


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APR16 - Reno Apartment Rental Rates*

STUDIO$1.54

/SF

Mar16

Apr16

Feb16

1 BEDROOM$1.10

/SF

2 BEDROOM$1.00

/SF

3 BEDROOM$0.85

/SF

$1.50

$1.48

$1.05

$1.02

$0.99

$0.98

$0.86

$0.78

The following rental data consists of weighted averages for market rents of 27,050 Reno/Sparks apartments, 5+ unit complexes only.

+2.7% +4.8% +1% -1%MoM

% C

hang

e


* Source: Costar, Dickson Commercial Group does not guarantee the accuracy of the data provided

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Dickson Commercial Group

The team at Dickson Commercial Group has been working in the Northern Nevada market for nearly 35 years. Our seasoned group of real estate professionals offers deep and diverse market knowledge, proven problem solving abilities and resourcefulness with a complete focus on commercial real estate.

We work as a team in the truest sense of the word. We collaborate to find the best solutions and we leverage the specific knowledge of each agent. Our multi-faceted brokerage provides local, national and international clients the full array of commercial real estate services. Agents are trained specialists with accreditation through the Society of Industrial and Office Realtors (SIOR) and Certified Commercial Investment Members (CCIM).

Institutional Experience, Local Knowledge


● Seller Representation● Buyer Representation● Large Multifamily (100+Units)● Midrange Multifamily (11-99 Units)● Small Multifamily (2-10 Units)● Rental & Financial Analysis● Monthly/Quarterly Reporting● Supply and Demand Analysis● Demographic Studies and Reports● Off Market Acquisitions

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DCG Multifamily

Trevor Richardson

Prior to joining DCG, Trevor was an acquisitions assistant vice president with American Homes 4 Rent (REIT), a national leader in single family home rentals. During his two years with the REIT, he operated on the front lines of growth and development while frequently traveling to more than 20 markets across the U.S. Trevor gained significant acquisitions experience as the company grew from 5,000 single family homes to more than 35,000 nationwide, almost entirely through single unit transactions.

Born and raised in Reno, Nev., Trevor launched his real estate career as operations manager for multiple private equity funds that focused on acquiring and renovating distressed residential assets in northern Nevada and northern California. Trevor graduated in 2010 with a B.A. in journalism with an emphasis in public relations from the University of Nevada, Reno.

Multifamily Services

EMAIL [email protected] 775.850.3031CELL 775.233.0754


DCG Multifamily Reno Market Report April16

Real Estate

Transcript of DCG Multifamily Reno Market Report April16