FOR SALE420 BURNS ST

WELLS AVE. RENOAPARTMENT OPPORTUNITY

$600,000

MIDTOWN APARTMENTS

CHRIS MOTON775.870.7142 CELLcmoton@dicksoncg.com

TREVOR RICHARDSON775.233.0754 CELLtrichardson@dicksoncg.com

PRESENTED BY:

333 Holcomb Ave., Ste. 300 | Reno, Nevada 89502 | 775.850.3100 DicksonCG.com

BURNS 4-PLEX

Burns 4-plex is a Wells Corridor multifamily property with high upside potential. The current tenants all on a month to month lease and far below market rents for this excellent location. The property is located blocks from Midtown Reno, which is the center for gentrification for the entire city. Between the vibrant Wells Corridor and Midtown District tenants will enjoy some of the best nightlife and retail Reno has to offer.

The desirability of this area also leads to some of the highest rents in the market on a per square foot basis.

# UNITS | 4

UNIT TYPE | 1 BEDROOM / 1 BATHROOM

UNIT SQFT. | 531 SF● Excellent location off Wells Ave

● Walking distance to many trendy retail spots

● Brand new house next door shows continued

neighborhood improvements

● Large lot could provide new owner space to add

bedrooms or fence backyards for each unit increasing

rentability

● Newly renovated 1 bedrooms in this area rent $1000 to

$1,100.

● All leases are currently month to month

BURNS 4-PLEX

BURNS ST.

CLAREMONT ST.

WILSO

N AVE.

PRICE: 600,000$/UNIT: $150,000

SF PER BUILDING: 1,062*

AVG SF PER UNIT: 531*

CURRENT LEASES: All Month to Month

ABOUT ADDRESS: 420 BURNS ST, RENO 89502

APN: 013-224-03

UNIT FEATURES: FULL KITCHEN, GAS HEATING

PARKING: 2 SPACES, STREET PARKING

ZONING: CCW

ELLS

AVE

.

BURNS 4-PLEX

KAT’S PAD

420 BURNS DUPLEX

321 CLAREMONT DUPLEX

BURNS 4-PLEX

BURNS 4-PLEX

BURNS 4-PLEX

SIMILAR LIFESTYLE BURNS 4-PLEX

420 BURNS

VIRGINIA ST.

WELLS AVE.

MIDTOWN RENO

WELLS BUNGALOW DISTRICT

WELLS AVENUE BUNGALOW DISTRICTIt's one of Reno's best kept secrets, one of the best neighborhoods for first-time home buyers, it's historic. Can you guess what it is?

The Wells Avenue bungalow district is an eclectic enclave of homes and businesses situated to the east, and mostly to the west, of Wells Avenue. Wells Avenue recently underwent a major renovation, which included narrowing the street to one lane each way, adding extensive landscaping and old-fashion lighting, adding medians with landscaping, and repaved all the sidewalks. You can find locally-owned businesses on Wells Ave, everything from a pet store to a radio-controlled-hobby store. - Downtown Reno Makeover

PROFILEWELLS AVE

BURNS 4-PLEX

SUMMARY

DCG or Trevor Richardson does not guarantee the accuracy of the current net income projections.

Neither DCG, Trevor Richardson or Chris Moton do not guarantee the accuracy of the current net income projections.

BURNS 4-PLEX

RENT ROLL DETAIL420 Burns

4/30/20420 Burns St., Reno, NV 89502

Post Renovation PRO FORMA

Address Unit BD/BA

Name on Lease

Sq.Ft* ESTIMATE Market Rent Current Rent Notes Pro forma Rent

* Lease Expiration 2020

420 Burns 1 1/1 N/A 500 $900.00 $550.00 $ 1,150.00 MTM $ 13,800.00422 Burns 2 1/1 N/A 500 $900.00 $650.00 $ 1,150.00 MTM $ 13,800.00321 Claremont 3 1/1 N/A 500 $900.00 $650.00 $ 1,150.00 MTM $ 13,800.00323 Claremont 4 1/1 N/A 500 $900.00 $650.00 $ 1,150.00 MTM $ 13,800.00Monthly Total 2,000 $3,600.00 $2,500.00 $ 4,600.00 $55,200.00

SUMMARY

DCG or Trevor Richardson does not guarantee the accuracy of the current net income projections.

Neither DCG, Trevor Richardson or Chris Moton do not guarantee the accuracy of the current net income projections.

BURNS 4-PLEX

Financial Summary (Pro Forma)420 Burns4/30/2020420 Burns St., Reno, NV 89502

Income2020 Annual

(PRO FORMA) Per Unit

USING MARKET RENT (IF VACANT WERE OCCUPIED)

Gross Rent $ 112,800.00 $ 93,600.00

Vacancy (3%) $ (3,384.00) $ (2,808.00)

Total Income $ 109,416.00 $ 13,677.00 $ 90,792.00

ExpensesBuilding Repairs $ 4,802.00 $ 600.25 $ 4,802.00

Electrical & Plumbing

Legal and Professional Fees $ 825.00

Maintenance & Cleaning $ 300.00 $ 37.50 $ 300.00

Materials & Supplies

Replacements

Insurance $ 4,000.00 $ 500.00 $ 3,633.00

Licenses and Permits

Management Fees $ 9,024.00 $ 1,128.00 $ 7,488.00

Property Taxes $ 3,895.48 $ 486.94 $ 3,732.77

Utilities $ 7,171.00 $ 896.38 $ 7,171.00

Other $ - .00

Total Expenses $ 29,192.48 $ 3,649.06 $ 27,951.77OPEX % 26.68% 30.79%

$ 80,223.52 $ 10,027.94 $ 62,840.23

Income2020 Annual

(PRO FORMA) Per Unit

USING MARKET RENT (IF VACANT WERE OCCUPIED)

Gross Rent $ 55,200.00 $ 43,200.00

Vacancy (3%) $ (1,656.00) $ (1,296.00)

Total Income $ 53,544.00 $ 13,386.00 $ 41,904.00

ExpensesRepairs and Maintenance $ 2,000.00 $ 500.00 $ 2,600.00

Insurance $ 1,360.00 $ 340.00 $ 1,360.00

Licenses and Permits $ 424.00 $ 106.00 $ 424.00

Management Fees $ 4,416.00 $ 1,104.00 $ 3,456.00

Property Taxes $ 1,074.00 $ 268.50 $ 1,074.00

Utilities $ 3,600.00 $ 900.00 $ 3,604.36

Other $ - .00 $ - .00 $ - .00

Total Expenses $ 12,874.00 $ 3,218.50 $ 12,518.36OPEX % 24.04% 6.01% 29.87%

NOI $ 40,670.00 $ 10,167.50 $ 29,385.64

Net Operating Income

PRO FORMA RENT w/ PROPERTY MANAGEMENTNOI $ 40,670.00Purchase Price $600,000Rehab/UNIT $18,000

Rehab ($18k/UNIT) $72,000Total Basis $672,000Cap 6.05%

MARKET RENTNOI $ 29,385.64Purchase Price $600,000Rehab/UNIT $0

Rehab ($20k/UNIT) $0Total Basis $600,000Cap 4.90%

Greater Reno-Sparks-Tahoe is the place companies come to increase the bottom line and to grow. Whether to take advantage of a business friendly environment, get closer to customers through strategic location or to enjoy the quality of life, companies like Tesla, Switch, Intuit, Microsoft, Apple, Amazon.com and Urban Outfitters call Northern Nevada home to some of their most critical business functions.

Reno is nestled in the hub of the western region, with a market area of 11 states and 53 million people. The Reno/Tahoe area is a transportation hub serviced by two major highways, I-80 and US 395, railroads, trucking and airline carriers that make it possible to ship from Reno to 80% of the 11 western states on a next-day basis.

FINANCIAL ADVANTAGEFrom exemptions to abatements, to deferrals, to the complete absence of taxes, simply operating your business in Greater Reno-Tahoe adds to your bottom line. Nevada was ranked #5 Most Business-Friendly Tax Climate by the Tax Foundation for 2017.

BUSINESS ADVANTAGEGreater Reno-Sparks-Tahoe is the perfect package. A business friendly and tax friendly environment, unmatched quality of life, and a logistics hub make this a great location for many businesses.

LIVE & PLAYThe Northern Nevada area isn't just a great place to do business, but it's also a great place for individuals and families to live and play. For those outdoor enthusiasts, Reno-Sparks is the gateway to Lake Tahoe and many other scenic attractions.

NORTHERN NEVADA

The purpose of the study is to forecast how many jobs and residents will potentially be located in the Study Areas by 2020, based on current and anticipated growth trends. The Study Area was segmented in 18 “EPIC Zones.” The where and how growth will occur is largely based on expected changes in land use patterns and economic activity over time. The EPIC has used the state-of-the-art, well-accepted and widely-used forecasting model developed by Regional Economics Models, Inc. (“REMI”). This model projects the demographic, economic and associated public revenue changes the Study Area is expected to see between 2015 and 2019.

Source: http://www.edawn.org/epic-report/

NORTHERN NEVADA

EPIC Study Area Actual Employment Tracking

The purpose of the study is to forecast how many jobs and residents will potentially be located in the Study Areas by 2020, based on current and anticipated growth trends. The Study Area was segmented in 18 “EPIC Zones.” The where and how growth will occur is largely based on expected changes in land use patterns and economic activity over time. The EPIC has used the state-of-the-art, well-accepted and widely-used forecasting model developed by Regional Economics Models, Inc. (“REMI”). This model projects the demographic, economic and associated public revenue changes the Study Area is expected to see between 2015 and 2019.

Source: http://www.edawn.org/epic-report/

Business-Friendly● RANKED IN TOP 10 STATES FOR BEST BUSINESS

TAX CLIMATE.● RANKED IN TOP 10 STATES FOR BUSINESS

INCENTIVES.

$

Technology Infrastructure● MAJOR DATA CENTERS: SWITCH, APPLE, EBAY,

RACKSPACE.● RESEARCH COLLABORATION.● HOME TO MICROSOFT, INTUIT, SIERRA NEVADA CORP.● "SUPER-LOOP" FIBER NETWORK IN PROGRESS.

Real Estate, Land, Resources● AFFORDABLE LARGE-SCALE REAL ESTATE AND

WATER AVAILABLE.● LARGE INDUSTRIAL SPACE.● (TESLA GIGAFACTORY IN THE TAHOE RENO

INDUSTRIAL CENTER).

Transportation● LESS THAN 1-DAY TRUCK SERVICE TO > 60 M

CUSTOMERS, 8 STATES, 5 MAJOR PORTS.● 2-DAY TRUCK SERVICE TO 11 STATES.

Tax Advantages● NO CORPORATE TAX● NO PERSONAL INCOME TAX● NO INVENTORY TAX● NO FRANCHISE TAX● NO SPECIAL INTANGIBLE TAX

Tier 1 University● UNIVERSITY OF NEVADA RENO, MORE THAN

20,000 STUDENTS

Workforce Development● MEETING THE CHANGING NEEDS OF INDUSTRY

THROUGH HIGHER EDUCATION, NEW COLLEGE TECHNICAL PROGRAMS, INDUSTRY CERTIFICATIONS, STEAM PROGRAMS, AND ATTRACTING TALENT TO THE REGION.

Economic Development Authority of Western Nevada (EDAWN), www.edawn.org

NEVADAGrow Your Business Here..

Greater Reno-Sparks● 100 COMPANIES HAVE RELOCATED HERE IN 3 YEARS.● COST OF LIVING .9% LOWER THAN NATIONAL AVG.● RANKED IN TOP 100 PLACES TO LIVE.● RANKED IN 35 BEST CITIES FOR MILLENNIALS TO WORK.● AVERAGE COMMUTE 22 MIN.

Entrepreneurial Ecosystem● RANKED AS ONE OF THE 14 BEST STARTUP

CITIES IN AMERICA.● SUPPORT FOR ENTREPRENEURS FROM

EDUCATION, MENTORSHIP AND FUNDING.● HOME TO TRAINER ROAD, FILAMENT,

FLIRTEY AND BRISTLECONE.

RENO | SPARKS

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

438 E TAYLOR ST.

RENO SPARKS

In June 2014, Tesla broke ground on its $5 billion, 10 million-square-foot Gigafactory, which is being built in phases. It manufactures lithium-ion batteries, as well as Model 3 battery packs and drive units. As of February 2017, the Tesla Gigafactory had almost 1,000 permanent employees. When completed in 2020, the Gigafactory will be the largest manufacturing facility in the world and is forecasted to employee more than 10,000 people, up from initial estimates of 6,500.

In November 2016, Switch opened the largest, most advanced data center campus in the world on 2,000 acres in the Tahoe Reno Industrial Center next to the Tesla Gigafactory. It is the first of eight planned data centers to be built at TRIC. The facility is powered 100-percent by renewable energy. Switch has connected Reno, Las Vegas, San Francisco, and Los Angeles via a SUPERLOOP which allows data to be transported between hubs in just milliseconds. eBay is an anchor tenant.

In April 2017 Google/Alphabet acquired 1,210 acres in The Tahoe Reno Industrial Center a few miles south from Tesla’s Gigafactory. The land will reportedly house a future data center and could also host a testing track for Waymo, the Alphabet-owned autonomous driving company. Nevada is pursuing legislation that would pave the way for driverless taxis.

Apple’s initial $100 million data center at the Reno Technology Park east of Sparks is fully utilized. In May 2017, Apple announced it would invest another $1 billion into the data campus. Part of the addition will include a $4 million, 27,000 square-foot warehouse for shipping and receiving to be built on a vacant lot in downtown Reno.

RENO SPARKS

In June 2014, Tesla broke ground on its $5 billion, 10 million-square-foot Gigafactory, which is being built in phases. It manufactures lithium-ion batteries, as well as Model 3 battery packs and drive units. As of February 2017, the Tesla Gigafactory had almost 1,000 permanent employees. When completed in 2020, the Gigafactory will be the largest manufacturing facility in the world and is forecasted to employee more than 10,000 people, up from initial estimates of 6,500.

In November 2016, Switch opened the largest, most advanced data center campus in the world on 2,000 acres in the Tahoe Reno Industrial Center next to the Tesla Gigafactory. It is the first of eight planned data centers to be built at TRIC. The facility is powered 100-percent by renewable energy. Switch has connected Reno, Las Vegas, San Francisco, and Los Angeles via a SUPERLOOP which allows data to be transported between hubs in just milliseconds. eBay is an anchor tenant.

In April 2017 Google/Alphabet acquired 1,210 acres in The Tahoe Reno Industrial Center a few miles south from Tesla’s Gigafactory. The land will reportedly house a future data center and could also host a testing track for Waymo, the Alphabet-owned autonomous driving company. Nevada is pursuing legislation that would pave the way for driverless taxis.

Apple’s initial $100 million data center at the Reno Technology Park east of Sparks is fully utilized. In May 2017, Apple announced it would invest another $1 billion into the data campus. Part of the addition will include a $4 million, 27,000 square-foot warehouse for shipping and receiving to be built on a vacant lot in downtown Reno.