Dickson Commercial Group (DCG) is pleased to announce the successful sale of the 8 unit apartment complex at 1395 Stardust Street, in Northwest Reno. DCG represented the seller, The Grupe Company, who acquired the property in January 2018 and undertook extensive remodeling and repositioned the complex prior to the sale.
This was a very nicely renovated property that sold to a 1031 Exchange buyer from Southern California. The property sold for $1.35M and closed on February 22nd, 2019. This sale was a great example of the type of renovation and repositioning we see in the Reno area driven by a high demand for apartments. An identical 8-plex next door that was renovated at the same time is currently for sale at 1365 Stardust Street. Contact DCG for more information.
The 6,976 square foot multi-family property is located with quick access to Interstate 80 and Downtown Reno.
The multifamily team at DCG, Trevor Richardson and Chris Moton represented the seller in the disposition.