• For sale
MULTI-FAMILY BUILDING FOR SALE

For Sale

On January 16, 2018, the City of Fernley approved the design and application for the Fernley Gardens Apartments at 610 & 660 Westerlund Lane, Fernley, NV. (APN(s): 021-103-45 & 14) subject to the 26 conditions of approval. Fernley Gardens will be one of the first new apartment projects to be built in over 10 years. Much like Reno/Sparks, Fernley is experiencing a massive housing shortage as it tries to accommodate the influx of labor migrating to the area to work for the new manufacturing companies locating in the Tahoe Reno Industrial Center. Fernley itself is also expect to grow in the industrial sector which is exemplified by the recent announcement of the new Polaris Factory. The property is centrally located in Fernley, directly behind City Hall.

Sale Note
252 Dwelling Units. 2 acres of common area facilities. Off Site Improvements. Zoned NR2 - 21 Units Per Acre. Underground Water and Sewer Utilities. Less than 30 Minute Commute to Reno. Located in the Fast Growing City in Nevada. New multifamily in this emerging market has yet to start despite rapid rent increases and plummeting vacancy. Like the multifamily development in Reno/Sparks, the first developers in will find extraordinary success. This location is as close to Tesla as Sparks, Nevada.

Property Details