Two-Building Multifamily with 7
For Sale
$1,095,000
Pending
1630 Idlewild Drive, Reno, NV 89509
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 Market549
Property Features for 1630 Idlewild Drive
General Information
Standard status
Pending
Size
4,784 SF
Property subtype
Multi-Family / Apartment Complex
Net Operating Income
$76,680
Taxes and HOA fees
Annual Taxes
$2,843
Amenities
1, 1, 380, 1, 4, 1, 2, 0, 0, 0, 0, 0, 681, 840, 0, 0, 0, 1276, 1338, 0, 0, 0
Varies by Unit
Dishwasher, Oven/Range, Refrigerator, Varies Per Unit
Electric
Blinds/Shades, Patio/Deck, Smoke Detector, Varies Per Unit
Storage Shed
Electric, Natural Gas, Wall Heater, Varies by Unit
Landlord Pays Utilities, Primary Meter-Electric, Primary Meter-Gas, Primary Meter-Water, Separate Heating/Cooling, Separate Water Heaters
Composition/Shingle, Pitched
Partial
Fiber Cement Siding, Wood Siding
Cable, City/County Water, City Sewer, Electricity, Natural Gas, Telephone, Varies by Unit, Internet Available, Cellular Coverage Avail
Basement/Finished, Concrete Slab, Concrete/Crawl Space
Partially Landscaped
Building Details
Year Built
1940
Buildings
2
Stories
2
Units
7
Listing Agency:
DL Realty
Listed By:
Chris McCain · License #B.1003301
(775) 225-1144
Source:
Compass
Added: Apr 24, 2025
Changed: Oct 23
Last Checked: Oct 23 at 10:05AM
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 DL Realty
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,815
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,236,300
$1.2M
Cap Rate 7%
$883,071
$883.1K
Cap Rate 9%
$686,833
$686.8K
Market Conditions
NOI Build-Up for 4,784 SF
Gross rent
$117.7K $24.60/SF
− Vacancy
−$5.3K −$1.11/SF
EGI
$112.4K $23.49/SF
− OpEx
−$50.6K −$10.57/SF
NOI
$61.8K $12.92/SF
Area
Reno, NV
Vacancy
4.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,236,300
Cap Rate 7%
$883,071
Cap Rate 9%
$686,833
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 authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,062
Businesses Nearby
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Business Placement
Demographics for 89509, NV
34,817
Population
18,290
Households
1.9
Avg Household Size
44
Median Age
50%
College-Educated
95%
High-School Grad
8.8 sq mi
ZIP Area
3,956
Density / Sq Mi
$81,751
Median Household Income
$47,546
Median Earnings
$1,443
Median Rent
$670,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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
