Tesla's Influence? 2nd Sparks Apartment complex sells for $32 Million

RST Homes: Tesla's Influence on Reno Real Estate. 2nd Sparks,NV Apartment complex, Villas at D'Andrea sold for $32M after Eastland Hills sold at $27.5M

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Tesla's Influence? 2nd Sparks Apartment complex sells for $32 Million

Posted by Candy Noel on Tuesday, January 13th, 2015 at 8:15am.

Yet to be announced publically, though I'm expecting from whispering we should all here in the media in February.  A second Sparks apartment complex has sold for $32 million.  The Villas at D'Andrea, a 256 unit luxury garden style apartment home community was sold on December 18th, 2014 to Oakmont Properties - Villas D'Andrea LLC.  Oakmont Properties - Villas D'Andrea LLC filed as a Nevada Domestic Limited Liability Company just 2 short months ago on November 7th, 2014.  We have been told that more details will be released in a community newsletter come February.

On August 19, 2014 Eastland Hills, a 296 unit apartment complex in Sparks, was the first large apartment complex sale since Tesla's announcement sold for $27.5M.  Most have attributed this purchase as being the 'touch of Tesla.'  Do you think the Villas at D'Andrea located just half of a mile away from Eastland Hills has the same touch??

Rents ranged from approx $850-$1300.  Do you have a rental property that you'd be interested in renting? Or do you need a place to rent?  Call RST Homes today and let us help you!!


Why rent when you can buy??  We took the scenario above with rents being between $900-$1300 to see how much house you can afford.  You can always use our Mortgage Calculator yourself and plug in your own numbers so see where you fall.  There are many different loan products out there.  We used the newest conventional 3% down program in the below example.  For more information on low interest rates, qualifications or would like to speak with a loan officer, please call Cory Henderson at Mann Mortgage at 775-828-9500.  Be sure to tell him RST Homes sent you!!

If you'd like to view all active homes for sale in the Reno and Sparks and surrounding areas, please visit our Advanced Search page.  Here you'll be able to find your home based on price, school district, ... anything you can think of, we have it!!  If you have any questions please feel free to Contact or call us anytime!!

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