1461 E 7th Street | 1461 E 7th St
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1461 E 7th Street 1461 E 7th St
4 Unit Apartment Building $450,000 ($112,500/Unit) 7.50% Cap Rate Reno, NV 89512
Executive Summary
Drive By Only! Please Do Not Disturb Tenants! All Viewings Can Take Place Within 3 Days Of Accepted Offer. Investment Opportunity in Reno! This multi-family property features four separate units on one parcel, making it a prime option for investors or owner-occupiers seeking rental income. The property includes one studio, two 1-bedroom/1-bath units, and one 2-bedroom/1-bath unit, offering a versatile mix to attract a variety of tenants. Conveniently located near UNR, Downtown Reno, shopping, restaurants, and everything this vibrant city has to offer, the property also boasts easy access to major thoroughfares. Roof, Windows and A/C Recently Replaced. Cap Rate At 7.5% Co-Op Fee 2.5% Studio - 616sqft, 1 Bed/1 Bath - 600sqft, 1 Bed/1 Bath - 336sqft and 2 Bed/1 Bath 750sqft. Partial Utilities - Owner Pays: Water, Trash and Sewer. All information to be verified by Buyer(s) and Buyer(s) Agent prior to close of escrow. Information is deemed reliable, but not guaranteed. Please verify school zoning as Washoe County is rezoning many of the schools.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $450,000 | Property Subtype | Apartment |
| Price Per Unit | $112,500 | Building Class | C |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 7.50% | No. Stories | 1 |
| No. Units | 4 | Year Built | 1932 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $450,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1932 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $575.00 | - |
| 1+1 | 2 | $832.50 | - |
| 2+1 | 1 | $1,000 | - |
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PROPERTY TAXES
| Parcel Number | 008-332-03 | Improvements Assessment | $35,273 (2024) |
| Land Assessment | $40,163 (2024) | Total Assessment | $75,435 (2024) |
PROPERTY TAXES
Parcel Number
008-332-03
Land Assessment
$40,163 (2024)
Improvements Assessment
$35,273 (2024)
Total Assessment
$75,435 (2024)
zoning
| Zoning Code | MU |
| MU |
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1461 E 7th Street | 1461 E 7th St
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