

Town Homes in Reno
Laguna Terrace is a "hidden"
residential community of town homes in Reno consisting of only thirty-eight
two-story town homes located on tranquil Virginia Lake. And while
the location is peaceful and scenic, it's still only minutes from
the excitement of downtown Reno, the Reno-Tahoe International
Airport and many shops and restaurants in Reno and only a block
away from the bustling Peppermill Casino. Located on the east side
of Virginia Lake, there is a nearby park and walking paths all
around the Lake.
This renovated residential town home
community is nestled around a private landscaped lagoon creating
peace and tranquility after a long day's work. Each two-story town
home is approximately 1,267 square feet with 2 bedrooms, 1 ˝
baths, an indoor laundry room, private patio outside of the living
room facing the lagoon and an attached covered carport. On the
main floor is the kitchen which opens to the dining room adjacent
to the living room, a powder room and laundry area. The second
floor has a large master bedroom with a view of the lagoon, large
closets and storage and a secondary bedroom with ample closet
space and a full bath with a separate vanity area. View our
floor plans page.
On the exterior, fresh paint has been
applied along with newly-styled roofs. In 2007 the entire
interiors were gutted and redone with new vanities, kitchen
granite countertops, dual stainless steel sinks, light fixtures and
handset tile entry floors. The kitchens also have new gas ranges,
microwaves, dishwashers and refrigerators.
The small size of the town homes makes
them perfect for professional couples or small families seeking a
low, entry-level price. The town home community is also great for
those seeking freedom from typical homeownership duties and yard
work. The homeowners association maintains the property and the
building which makes it maintenance-free living. The town homes
are zoned for excellent schools, with Jessie Beck Elementary,
Swope Middle and Reno High school all nearby.
The Laguna Terrace town home community
also features a community swimming pool and the current
sales/leasing office will be remodeled in the future into an
exercise facility for use by the community homeowners.
Virginia Lake itself is surrounded by
a walking path and is adjacent to a playground and dog park, so
outside activities are right outside the door.
View our Laguna Terrace
Visual Tour.
For more information regarding the City of Reno, visit
http://www.cityofreno.com/.


Currently, of the 38 town homes, 28
have been sold while the balance are leased. The
lease terms and rates range from 6 to 12 months with rents from
$1050 to $1,200. Some facts to consider in determining this
investment are:
-
HOA dues: $155/month covers exterior painting, roof, siding, common area landscaping,
water, lagoon maintenance, and a portion of pool maintenance
and hazard insurance on the residence.
-
Real estate taxes paid quarterly
approximately 0.7% of the purchase price.
-
Sewer fees approximately $62 per
quarter & trash collection fee is $15 per month.
-
Transfer fee due on sale 0.410% of
purchase price.
-
On above leases, tenant pays gas
and electric.
Disclaimer: The aforementioned
assumptions & rentals represent Seller's current market terms and
best estimates on expenses. Information is subject to changes,
errors and omissions. Potential investor should consult with their
accountants, legal and financial advisors prior to making their
investment decisions.
The renovated town homes at Laguna
Terrace represents a special investment opportunity because the
town home community sits in the middle of an apartment rental
community which has been re-zoned and the future plan is to
redevelop the apartment complex with new condominiums. The
redevelopment has been approved by the City of Reno and will
commence when the Reno economy strengthens.

About Laguna Terrace |
Distinctive Features |
Location | Floor Plan
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