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    The Largest CRE Database in the US with Over 1 Million Listings

    903 W 7Th St Reno, NV 89503

    Sponsored
    For Sale
    Under Contract
    $850,000

    MULTI_FAMILY - Reno, NV

    Property size:
    2,116 SF
    Lot size:
    0.09 Acres
    Days on Market:
    32
    Last Refresh:
    Jan 22 at 7:06 am

    Property Features for 903 W 7Th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Window features
    Double Pane Windows
    Zoning
    MF14
    Rooms
    Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1
    APN
    006-121-14
    Parking
    4
    Parking features
    Assigned
    Patio and Porch features
    Patio
    Interior features
    Ceiling Fan(s), High Ceilings
    Appliances
    Oven, Electric Range, Gas Range, Refrigerator
    Size
    2,116 SF
    Lot size
    0.09 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Window Unit(s), Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1915
    Floors in Building
    1
    Number of units
    4
    Flooring type
    Vinyl
    Building materials
    Brick, Wood Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Kelli Potts
    Kelli Potts

    Ascent Property Group (153) 054-5034 [email protected]

    Listing agent Kelli Potts (530) 721-6632 License #S.192346

    Listing date Dec 22, 2025

    MLS# 250058568 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Renovated Fourplex Near UNR

    This fourplex, located near the University of Nevada, Reno, presents an investment opportunity. The property was fully renovated in late 2021, with updated interior and exterior paint, new windows, upgraded flooring, remodeled bathrooms, shaker-style cabinetry, stainless steel appliances, granite countertops, modern lighting, enhanced millwork, new interior doors, and efficient on-demand water heaters. The four units include a 392-square-foot studio and three one-bedroom/one-bath units measuring 672 square feet, 532 square feet, and 520 square feet (one including a small office), totaling 2116 square feet. All four units feature vaulted ceilings. The sewer line from the building to the city connection was replaced in 2023, and a commercial backflow device is planned for installation in 2025 to meet current city standards. Tenants are responsible for refuse collection and electricity, while the owner covers gas, water, and sewer expenses. The surrounding neighborhood has seen improvement and growth, with a newer commercial corridor offering restaurants, shopping, and groceries nearby. Recent additions like In-N-Out, Cracker Barrel, and Starbucks have contributed to the area's convenience and long-term appreciation. Situated minutes from UNR, public transportation, major employment centers, and daily amenities, this fourplex offers rental demand and long-term potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.828753
    Latitude
    39.531599

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    FAQs

    What type of property is this?
    Quadplex - Fully renovated fourplex near UNR with strong rental demand.
    Where is this quadplex located?
    The property is located at 903 W 7Th St Reno, NV.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - Fully renovated fourplex with modern finishes and upgrades completed in late 2021, minimizing near-term maintenance.; - Excellent location near the University of Nevada, Reno (UNR), major employment centers, and a growing commercial corridor with restaurants, shopping, and groceries.; - Strong rental demand and versatile investment opportunity suitable for investors, owner-occupants, or parents of UNR students.
    (530) 721-6632
    Request Owner's contact information
    903 W 7Th St Reno, NV 89503
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    Reno, NV 89503
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    903 W 7Th St Reno, NV 89503
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    We can help!
    Listing Contact
    Kelli Potts
    Kelli Potts
    Real Estate License ID: S.192346
    (530) 721-6632
    Learn more
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