The four-building, 32-unit multifamily property will see significant capital improvements in 2023
SAN FRANCISCO, Dec. 13, 2022 /PRNewswire-PRWeb/ -- GPR Ventures has confirmed its seventh multifamily acquisition by completing the purchase of a four-building, 32-unit apartment complex in Reno, NV. The Creekside Apartments are located at 2400-2450 Sutro Street, and all buildings are currently being prepared for significant capital improvements and renovations over the span of several months. The purchase, which closed escrow on December 8, 2022, marks the 48th overall acquisition for GPR Ventures and the fifth in the Reno-Sparks area.
"This is a great addition to our growing portfolio of properties in the Reno area, and with its prime location near main thorougfares and close to the University of Nevada-Reno, we anticpate it being a great place for potential tenants of all types," said GPR Ventures co-founder and Managing Principal Phillip Rolla.
Planned Capital Improvements
GPR is planning to rehabilitate the exterior with new paint and landscaping, as well as updating the community BBQ grill area. GPR is also planning to remodel all interior units, four at a time, in phases; this includes installing new HVAC units, washers, dryers, refrigerators, dishwashers and garbage disposals and updating countertops, interior paint and carpet throughout each unit.
For more information on GPR Ventures and its complete portfolio, visit https://www.gprventures.com/.
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About GPR Ventures
Founded in 2011, GPR Ventures is a privately held real estate investment firm with offices in Silicon Valley and Sacramento that specializes in providing real estate opportunities for a select group of sophisticated investors. GPR Ventures uses a dynamic, fully developed process and the acquisition-to-disposition expertise of founders Glen Yonekura and Phillip Rolla to yield consistent results. GPR's portfolio includes 102 industrial, multifamily and office buildings totaling over 3 million square feet and an additional 36 acres of land. For additional information, please visit GPRVentures.com or call (408) 559-3300.
Media Contact
Chad Riley, GPR Ventures, 916-285-9835, [email protected]
SOURCE GPR Ventures
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