Four-Unit Townhome-Style
For Sale
$999,990
312 16TH, Sparks, NV 89431
Three townhome-style apartments and a separate home provide four rentable units with dedicated parking areas.
Property Size3,768 SF
Price / SF$265.39
Days on Market99
Property Features for 312 16TH
General Information
Standard status
Active
Size
3,768 SF
Property subtype
Multi-family
Units
Unit Mix
3 x 2BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
storage spaces
fenced backyard
Building Details
Year Built
1935
Buildings
2
Listing Agency:
New Dimensions,Inc.
Listed By:
Daniel Puz · License #S.174064
(775) 771-1047
Source:
Ferrari-lund
Added: Jul 10
Changed: Oct 15
Last Checked: Oct 14 at 11:19PM
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 New Dimensions,Inc.
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Investment Insights
Based on property information with market context.
Built in 1935, this four-unit property combines three townhome-style apartments with a detached residence on the same parcel. Each apartment offers two bedrooms and one and a half baths. The separate home includes two bedrooms, one bathroom, a substantial basement, and a fully fenced backyard. Small storage areas are also available.
Parking is arranged across two areas: a front lot serves the three-apartment building, while the home has its own lot with alley access. The property is within walking distance of Historic Victorian Avenue, a setting for entertainment and events, and the fire department is two blocks away. Freeway access provides convenient connectivity.
Parking is arranged across two areas: a front lot serves the three-apartment building, while the home has its own lot with alley access. The property is within walking distance of Historic Victorian Avenue, a setting for entertainment and events, and the fire department is two blocks away. Freeway access provides convenient connectivity.
Key Highlights
- Four rentable units: three townhome‑style apartments plus a separate home
- Each apartment has 2 bedrooms and 1.5 baths
- Standalone home includes 2 bedrooms, 1 bathroom, a large basement, and fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,852
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$937,040
$937.0K
Cap Rate 7%
$669,314
$669.3K
Cap Rate 9%
$520,578
$520.6K
Market Conditions
NOI Build-Up for 3,768 SF
Gross rent
$70.1K $18.60/SF
− Vacancy
−$3.2K −$0.84/SF
EGI
$66.9K $17.76/SF
− OpEx
−$20.1K −$5.33/SF
NOI
$46.9K $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 Rate 5%
$937,040
Cap Rate 7%
$669,314
Cap Rate 9%
$520,578
Alternative Uses
Best Use
Multifamily LT 5
$669.3K
$585.7K – $780.9K
NOI $46,852 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$599.0K
$524.1K – $698.9K
NOI $41,931 @ 7.0% cap · market cap 4.19%
Theoretical Best
Specialty Retail
$1.33M
$1.17M – $1.56M
NOI $93,363 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,149
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
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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?
Quadplex - Three townhome-style apartments and a separate home provide four rentable units with dedicated parking areas.
Where is this quadplex located?
The property is located at 312 16TH Sparks, NV.
What is the asking price?
The asking price for this property is $999,990.
What are key features of this property?
This property features: Four rentable units: three townhome‑style apartments plus a separate home; Each apartment has 2 bedrooms and 1.5 baths; Standalone home includes 2 bedrooms, 1 bathroom, a large basement, and fenced backyard
