Two-Building Multifamily with 7
1630 Idlewild Drive Reno, NV 89509
1630 Idlewild Drive, Reno, NV, 89509
$1,095,000
Pending
For Sale
$1,095,000
Pending
Two apartment buildings on three contiguous parcels totaling seven units, with recent upgrades reported within the past 8 months.
Property Size4,784 SF
Days on Market455
Property Features for 1630 Idlewild Drive
General Information
- Standard status
- Pending
- Size
- 4,784 SF
- Property subtype
- Multi-Family / Apartment Complex
Building Details
- Year Built
- 1940
Listing agency
(775) 225-1144
Listed by
Chris McCain · License #S.183923
(775) 225-1144
Source
Compass
Added: Apr 25, 2025 Updated: Jul 21 at 7:31AM Checked: Jul 22 at 10:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chris McCain
Investment Insights
Based on property information with market context.
This offering includes 3 contiguous parcels with 2 apartment buildings and a total of 7 units. Reported improvements include many upgrades completed within the past 8 months, and a list of recent upgrades, along with the rent roll and cash flow information, is available upon request.
The property sits on over half an acre and is located across the street from the Truckee River and Idlewild Park.
For investors or owner-users looking to manage a small, multi-unit portfolio, the configuration provides multiple units across two buildings on adjacent parcels.
The property sits on over half an acre and is located across the street from the Truckee River and Idlewild Park.
For investors or owner-users looking to manage a small, multi-unit portfolio, the configuration provides multiple units across two buildings on adjacent parcels.
Key Highlights
- Two apartment buildings on three contiguous parcels with 7 total units
- Reported 7%+ CAP rate (on actuals) with $156k per unit
- Over half an acre total, with room noted for additional development
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $117.7k | $24.60 |
| − Vacancy | −$5.3k | −$1.11 |
| EGI | $112.4k | $23.49 |
| − OpEx | −$50.6k | −$10.57 |
| NOI | $61.8k | $12.92 |
4,784 SF · lease $24.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$883.1K
$772.7K – $1.03M
NOI $61,815 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,206 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two apartment buildings on three contiguous parcels totaling seven units, with recent upgrades reported within the past 8 months.
Where is this apartment building located?
The property is located at 1630 Idlewild Drive Reno, NV.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Two apartment buildings on three contiguous parcels with 7 total units; Reported 7%+ CAP rate (on actuals) with $156k per unit; Over half an acre total, with room noted for additional development
