Sierra View Apartments in Carson City.
GPR Ventures, a privately-held California real estate investment firm, has closed escrow on a 34-unit apartment complex in Carson City, marking the firm’s eighth multifamily acquisition.
According to the Carson City Assessor’s site, the company purchased the property for $5.825 million. It last sold in 2021 for $4.15 million.
The Sierra View Apartments consist of 34 2-bedroom units, and GPR Ventures plans to implement capital improvements throughout the multifamily community to “further elevate the property’s modern design,” according to a news release issued by the company.
“We are thrilled to see continued growth in Nevada with the addition of Sierra View Apartments to our portfolio in the capital city,” said GPR Ventures Cofounder and Managing Principal Phillip Rolla. “With a growing population and job market, Carson City is a compelling market with extensive amenities for residents and businesses.”
The complex at 1301 Como St., was near capacity at the time of purchase, the company said.
“The property is surrounded by scenic mountain views and features a community picnic area with a barbecue and gazebo, as well as a dog park and 24-hour on-site laundry facility,” reads the release.
GPR plans to remodel the units with new kitchen cabinets and appliances, bathroom fixtures, flooring and other items.
“The single on-site laundry room will be updated with new washer and dryer units, and a second laundry room is planned,” reads the release. “The building’s exterior will receive new landscaping, updated fencing, fresh paint and updated lighting.”
Founded in 2011, GPR Ventures has offices in Silicon Valley and Sacramento. The company’s portfolio includes 125 industrial, multifamily and office buildings totaling over 4 million square feet and an additional 37 acres of land.
For information, visit GPRVentures.com or call 408-559-3300.