4-Unit Quadplex with New
For Sale
$730,000
675 Denslowe Drive, Reno, NV 89512
Residential Income, Reno, NV
Property Size2,858 SF
Lot Size0.14 Acres
Price / SF$255.42
Days on Market21
Property Features for 675 Denslowe Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
MF30
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bedroom 7, Bathroom 1, Bedroom 8, Bedroom 4, Bathroom 4, Bedroom 1
Appliances
Refrigerator
Subdivision
Sterling Village
Lot features
Level
Elementary school
Lemelson Stem Academy
Middle school
Traner
High school
Hug
Directions
Valley Rd, turn East on Denslowe Dr
Standard status
Active
APN
008-012-17
Size
2,858 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1419
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Wall Furnace
Water source
Public
Building Details
Year built
1952
Floors in Building
2
Number of units
4
Flooring type
Varies
Building materials
Wood Siding
Roof type
Membrane, Flat
Listing Agency:
Ferrari-Lund R.E. Sparks
(775) 685-7788
Listed By:
Jennifer Linn · License #BS.1002684
(775) 527-9809
Added: Aug 4
Changed: Aug 20
Last Checked: Aug 24 at 6:06AM
MLS# 260010634
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.
Investment Insights
Based on property information with market context.
This 4-unit residential income property contains 2,858 square feet on a 0.14-acre lot in Reno. Built in 1952, the building has wood siding, a flat membrane roof, public water, and public sewer. Heating is provided by natural gas wall furnaces, and a refrigerator is included among the listed appliances.
Three units are tenant occupied, while Unit D is vacant and available to tour. Tours of the occupied units are available after an offer is accepted. The property is zoned MF30 and located at 675 Denslowe Drive in Reno, Nevada.
Three units are tenant occupied, while Unit D is vacant and available to tour. Tours of the occupied units are available after an offer is accepted. The property is zoned MF30 and located at 675 Denslowe Drive in Reno, Nevada.
Key Highlights
- 4‑unit residential income property with 2,858 square feet
- New roof with flat membrane construction
- 0.14‑acre lot zoned MF30
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,517
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$850,340
$850.3K
Cap Rate 7%
$607,386
$607.4K
Cap Rate 9%
$472,411
$472.4K
Market Conditions
NOI Build-Up for 2,858 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.4K $22.20/SF
− Vacancy
−$2.7K −$0.95/SF
EGI
$60.7K $21.25/SF
− OpEx
−$18.2K −$6.38/SF
NOI
$42.5K $14.88/SF
Area
Reno, NV
Vacancy
4.27%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$850,340
Cap Rate 7%
$607,386
Cap Rate 9%
$472,411
Alternative Uses
Best Use
Multifamily LT 5
$607.4K
$531.5K – $708.6K
NOI $42,517 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$527.6K
$461.6K – $615.5K
NOI $36,929 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$880.8K
$770.7K – $1.03M
NOI $61,656 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
Explore this area
Business Placement
Demographics for 89512, NV
30,148
Population
12,374
Households
2.4
Avg Household Size
30
Median Age
18%
College-Educated
76%
High-School Grad
6.2 sq mi
ZIP Area
4,863
Density / Sq Mi
$45,284
Median Household Income
$34,587
Median Earnings
$1,113
Median Rent
$318,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Three units are occupied, while Unit D is vacant and available for touring.
Where is this quadplex located?
The property is located at 675 Denslowe Drive Reno, NV.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 4‑unit residential income property with 2,858 square feet; New roof with flat membrane construction; 0.14‑acre lot zoned MF30
