Reno Condo Portfolio
4600 Neil Road, Reno, NV 89502
New
- Added:
- May 21, 2026
- Days on Market:
- 3
- Last Refresh:
- May 23 at 3:06 pm
Property Features for 4600 Neil Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- pud
- Window features
- Aluminum Frames
- Standard status
- Active
- APN
- 025-541-18
- Size
- 860 SF
- Lot size
- 0.01 Acres
Taxes and HOA fees
- Tax Annual Amount
- 514
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1978
- Floors in Building
- 2
- Number of units
- 10
- Flooring type
- Carpet
- Building materials
- Wood Siding
Listing agent Ryan Borden License #B.1001282 (775) 544-9262
Listing office Realty One Group Eminence 670 Sierra Rose Dr., Reno, NV (775) 683-3360
Listing date May 21, 2026
MLS# 260006432
Copyright © 2026 Northern Nevada Regional MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Opportunity to increase income and improve yield by raising rents to market rates.
- Multiple exit strategies: hold for rental income, renovate and resell individually, or a combination.
- Portfolio offered at approximately a 4.5% cap rate with a projected stabilized cap rate of 6.3%.
- Ability to acquire 10 units in a single transaction, providing instant scale.
- All 10 units are currently tenant‑occupied, providing immediate income.
- Estimated individual condo sell‑off value of $1,590,000, offering potential for significant profit.
Overview
This is a rare opportunity to acquire a 10-unit condo portfolio in Reno. All units are tenant-occupied with long-term month-to-month tenants. Current rents appear to be below market, creating an opportunity for an investor to increase income over time and improve overall yield. Based on current income, the portfolio is offered at approximately a 4.5% cap rate, with projected stabilized income showing an estimated cap rate of approximately 6.3% once rents are moved closer to market. This offering may appeal to both buy-and-hold investors and value-add/flipper-style investors. A buyer can hold the units for rental income and improve cash flow through rent stabilization, or potentially renovate and sell individual condos over time to capture the spread between the bulk portfolio price and individual unit resale values. The portfolio is being offered as one package, providing a buyer the ability to acquire scale in a single transaction without having to assemble units one by one. The property is zoned as PUD and has a lot size of 0.01 acres. The property size is 860 square feet.
Property Profile
Location Intelligence
Current Use by Public Records
Nationwidehomeinvestments
Financial Advisor
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.780223
- Latitude
- 39.481759
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 10-unit condo portfolio with multiple exit strategies in Reno.
Where is this apartment building located?
The property is located at 4600 Neil Road Reno, NV.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Opportunity to increase income and improve yield by raising rents to market rates.; Multiple exit strategies: hold for rental income, renovate and resell individually, or a combination.; Portfolio offered at approximately a 4.5% cap rate with a projected stabilized cap rate of 6.3%.
