Six-Unit Apartment
For Sale
Contact for pricing
2440 SUTRO ST, Reno, NV 89512
Townhome-style residences feature private balconies, spacious kitchens, and on-site parking near transportation and area amenities.
Property Size5,184 SF
Price / SF$202.55
Days on Market171
Property Features for 2440 SUTRO ST
General Information
Standard status
Active
Size
5,184 SF
Class
C
Property subtype
Multifamily
Zoning
MF-30
Occupancy
100%
Net Operating Income
$52,841
Building Details
Year Built
1964
Stories
2
Units
6
Listing Agency:
CBRE Reno
Listed By:
Ben Galles · License #47543
(775) 750-6429
Source:
Crexi
Added: Apr 27
Changed: Oct 7
Last Checked: Oct 12 at 8:30PM
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 CBRE Reno
Investment Insights
Based on property information with market context.
This 1964 apartment property contains six townhome-style residences totaling 5,184 square feet. Each two-bedroom, one-bathroom unit measures approximately 864 square feet and includes a generously sized kitchen, private balcony, and access to on-site parking. The property is designated MF-30.
Located at 2440 Sutro Street in Reno, the asset offers access to bus lines and Interstate 80, with shopping and employers also identified nearby. The configuration combines individual residential layouts with shared site parking across a compact multifamily property.
Located at 2440 Sutro Street in Reno, the asset offers access to bus lines and Interstate 80, with shopping and employers also identified nearby. The configuration combines individual residential layouts with shared site parking across a compact multifamily property.
Key Highlights
- Six‑unit apartment property with townhome‑style layouts
- Six 2‑bedroom, 1‑bathroom residences
- 5,184 square feet total; approximately ±864 sq ft per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,983
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,339,660
$1.3M
Cap Rate 7%
$956,900
$956.9K
Cap Rate 9%
$744,256
$744.3K
Market Conditions
NOI Build-Up for 5,184 SF
Gross rent
$127.5K $24.60/SF
− Vacancy
−$5.7K −$1.11/SF
EGI
$121.8K $23.49/SF
− OpEx
−$54.8K −$10.57/SF
NOI
$67.0K $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%
$1,339,660
Cap Rate 7%
$956,900
Cap Rate 9%
$744,256
Alternative Uses
Best Use
Apartment 5plus
$956.9K
$837.3K – $1.12M
NOI $66,983 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,835 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
424
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Townhome-style residences feature private balconies, spacious kitchens, and on-site parking near transportation and area amenities.
Where is this apartment building located?
The property is located at 2440 SUTRO ST Reno, NV.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Six‑unit apartment property with townhome‑style layouts; Six 2‑bedroom, 1‑bathroom residences; 5,184 square feet total; approximately ±864 sq ft per unit
