6-Unit Apartment
For Sale
$1,175,000
251 E Arroyo St, Reno, NV 89502
Brick apartment property with a separate two-story duplex and off-street parking.
Property Size3,677 SF
Price / SF$319.55
Days on Market56
Property Features for 251 E Arroyo St
General Information
Standard status
Active
Size
3,677 SF
Units
Unit Mix
4 x 1BR, 2 x 2BR
Multifamily Units
6
Amenities
shared laundry area
bike storage
unfinished basement
Building Details
Year Built
1945
Buildings
2
Listing Agency:
Marmot Properties, LLC
Listed By:
Laura Kirsch
(775) 391-9076
Source:
Hauspg-nv
Added: Aug 20
Changed: Oct 1
Last Checked: Oct 7 at 1:48PM
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 Marmot Properties, LLC
Investment Insights
Based on property information with market context.
This Midtown Reno multifamily property includes a brick building with four 1-bedroom apartments and a separate two-story duplex containing two 2-bedroom units. The property also provides off-street parking, shared laundry, bike storage, and an unfinished basement for storage that is excluded from the reported square footage.
Capital improvements include newer roofs on both buildings, vinyl windows, a furnace, a hot water heater, and other system updates. One 2-bedroom apartment and one 1-bedroom apartment are vacant, providing flexibility for leasing or owner occupancy. The property is near Wells Avenue, restaurants, coffee shops, boutiques, and other neighborhood amenities in Midtown Reno. The address is 251 E Arroyo Street, Reno, NV 89502.
Capital improvements include newer roofs on both buildings, vinyl windows, a furnace, a hot water heater, and other system updates. One 2-bedroom apartment and one 1-bedroom apartment are vacant, providing flexibility for leasing or owner occupancy. The property is near Wells Avenue, restaurants, coffee shops, boutiques, and other neighborhood amenities in Midtown Reno. The address is 251 E Arroyo Street, Reno, NV 89502.
Key Highlights
- 6‑unit property with four 1‑bedroom apartments and two 2‑bedroom units
- Separate 2‑story duplex with two 2‑bedroom apartments
- Brick building plus a duplex structure on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,511
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$950,220
$950.2K
Cap Rate 7%
$678,729
$678.7K
Cap Rate 9%
$527,900
$527.9K
Market Conditions
NOI Build-Up for 3,677 SF
Gross rent
$90.5K $24.60/SF
− Vacancy
−$4.1K −$1.11/SF
EGI
$86.4K $23.49/SF
− OpEx
−$38.9K −$10.57/SF
NOI
$47.5K $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%
$950,220
Cap Rate 7%
$678,729
Cap Rate 9%
$527,900
Alternative Uses
Best Use
Apartment 5plus
$678.7K
$593.9K – $791.9K
NOI $47,511 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$991.6K – $1.32M
NOI $79,324 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,985
Businesses Nearby
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Brick apartment property with a separate two-story duplex and off-street parking.
Where is this apartment building located?
The property is located at 251 E Arroyo St Reno, NV.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 6‑unit property with four 1‑bedroom apartments and two 2‑bedroom units; Separate 2‑story duplex with two 2‑bedroom apartments; Brick building plus a duplex structure on the property
