Cash-Flowing Stable Asset with Proven Value-Add Upside
Sagecliff offers 220 apartment homes across a low-density, lushly landscaped 1997-built community averaging 941 square feet, with a balanced mix of one- and two-bedroom floorplans. Since 2021, current ownership has invested over $2M in capital improvements, creating a modernized, turnkey asset with strong in-place cash flow. With only 29 units renovated to date, the remaining 191 classic units represent an immediate opportunity to capture a proven renovation premium at scale, with further upside available through amenity repositioning, an exterior paint refresh, and an enhanced next-level renovation scope.

Walkable Access to 455K SF of High-Demand Retail & Dining
Positioned steps from the vibrant Northtown Marketplace, Sagecliff delivers walkable convenience rarely matched in Reno, with residents just a 4-minute walk from an anchored retail destination featuring grocery, fitness, shopping, and fast-casual dining. With over 455,000 square feet of retail within a half-mile, the property offers an effortless, connected lifestyle that drives strong renter demand and supports long-term occupancy stability.

Exceptional Connectivity to Reno’s Employment Hubs
Sagecliff sits adjacent to U.S. 395 with over 96,900 vehicles passing daily, providing outstanding visibility and seamless access to Reno’s key employment centers. Proximity to the Tahoe-Reno Industrial Center, University of Nevada Reno, and Truckee Meadows Community College. Combined with McCarran Blvd just a half-mile south which connects residents to over 232,000 jobs within a 30-minute drive, anchored by major employers including Amazon, Apple, Walmart, Renown Health, and St. Mary’s Health.

Tight Supply & Affordability Gap Drive Rent Demand
Reno MSA’s multifamily pipeline is sharply constrained, with new deliveries expected to drop below 1,000 units and just 2.5% of existing inventory under construction and zero market-rate units in lease-up or under construction within a two-mile radius of Sagecliff. Meanwhile, median home prices above $575,000 and monthly ownership costs of $3,451 create a 124% rent-vs-own cost advantage over Sagecliff’s $1,540 average market rent, a $1,911 monthly savings that continues to funnel new households into the rental pool.

Top-10 Rent Growth & Near-Full Occupancy Underscore Exceptional Fundamentals
Reno has emerged as a high-growth, business-friendly metro and regional tech hub, attracting major employers including Tesla, Google, and Redwood Materials while maintaining a cost of living well below coastal California markets. Multifamily fundamentals are exceptionally strong, with Reno ranking among the top U.S. markets for rent growth, near-full occupancy of approximately 97%, and a predominantly white-collar workforce, all of which underpin durable cash flows and a favorable long-term outlook for well-located assets like Sagecliff.