Sparks Multifamily Investment
For Sale
$699,900
1018 E Street lot 1018 1016 1018-1/2 E Street, Sparks, NV 89431
MULTI_FAMILY - Sparks, NV
Property Size2,144 SF
Lot Size0.11 Acres
Price / SF$326.45
Days on Market129
Property Features for 1018 E Street lot 1018 1016 1018-1/2 E Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MUD
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3
Parking
5
Parking features
Assigned
Window features
Blinds, Window Coverings, Vinyl Frames, Double Pane Windows, Single Pane Window(s)
Interior features
Ceiling Fan(s)
Appliances
Dryer, Electric Range, Refrigerator, Washer
Subdivision
Prater Addition To Sparks
Lot features
Landscaped, Level, Sprinklers In Front
Elementary school
Mitchell
Middle school
Sparks
High school
Sparks
Directions
West on Prater, L on Tenth, R on E
Standard status
Active
APN
032-094-11
Size
2,144 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
1312
Utilities
Sewer type
Public Sewer
Heating system
Floor Furnace, Varies by Unit (Heating), Wall Furnace
Cooling system
Varies by Unit, Wall/Window Unit(s), Window Unit(s), Electric
Water source
Public
Building Details
Year built
1937
Floors in Building
1
Number of units
3
Flooring type
Laminate
Roof type
Composition, Shingle
Listing Agency:
RE/MAX Professionals-Sparks · RE/MAX International
(775) 446-7200
Listed By:
Brenda Aucutt · License #S.66743.LLC
(775) 287-5661
Added: Apr 1
Changed: Jul 2
Last Checked: Aug 7 at 12:06PM
MLS# 260003782
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 multifamily property in Sparks, Nevada, presents an investment opportunity with three separate units. All units are currently occupied and well-maintained. The location offers convenient access to schools, shopping, and the freeway. Updates have been made to all units, and they are reported to be in good condition. The sale includes three addresses: 1018 E Street, 1016 E Street, and 1018-1/2 E Street. The property is zoned MUD and has a size of 2144 square feet on a lot of 0.11 acres.
Key Highlights
- 3 separate units, all currently occupied
- Includes 1018 E Street, 1016 E Street, and 1018‑1/2 E Street (on parcels listed above and additional parcel)
- Year built 1937
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
$26,659
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
3.81%
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%
$533,180
$533.2K
Cap Rate 7%
$380,843
$380.8K
Cap Rate 9%
$296,211
$296.2K
Market Conditions
NOI Build-Up for 2,144 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
$39.9K $18.60/SF
− Vacancy
−$1.8K −$0.84/SF
EGI
$38.1K $17.76/SF
− OpEx
−$11.4K −$5.33/SF
NOI
$26.7K $12.43/SF
Area
Sparks, NV
Vacancy
4.50%
Lease Rate
$18.60 /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%
$533,180
Cap Rate 7%
$380,843
Cap Rate 9%
$296,211
Alternative Uses
Best Use
Multifamily LT 5
$380.8K
$333.2K – $444.3K
NOI $26,659 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$340.8K
$298.2K – $397.7K
NOI $23,859 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$758.9K
$664.1K – $885.4K
NOI $53,124 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
988
Businesses Nearby
Explore this area
Business Placement
Demographics for 89431, NV
40,219
Population
16,858
Households
2.4
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
9.2 sq mi
ZIP Area
4,372
Density / Sq Mi
$64,496
Median Household Income
$39,589
Median Earnings
$1,276
Median Rent
$332,000
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?
Triplex - Three-unit property in Sparks, NV, near amenities and freeway.
Where is this triplex located?
The property is located at 1018 E Street lot 1018 1016 1018-1/2 E Street Sparks, NV.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3 separate units, all currently occupied; Includes 1018 E Street, 1016 E Street, and 1018‑1/2 E Street (on parcels listed above and additional parcel); Year built 1937
