4-Unit Quadplex with
For Sale
$1,100,000
3271 Gypsum Road, Reno, NV 89503
Each residence has two bedrooms, one bath, an assigned garage, and private storage.
Property Size4,608 SF
Price / SF$238.72
Days on Market40
Property Features for 3271 Gypsum Road
General Information
Standard status
Active
Size
4,608 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
1
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,735
Amenities
on-site laundry
Building Details
Building Size
4,608 SF
Year Built
1964
Buildings
1
Tenancy
Multi
Listing Agency:
Dickson Realty - Sparks
Listed By:
Felisa Cusimano-Martin · License #S.67423
(775) 250-8033
Source:
Kirschrealestateteam
Added: Sep 23
Changed: Oct 26
Last Checked: Oct 30 at 4:55AM
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 Dickson Realty - Sparks
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Investment Insights
Based on property information with market context.
Built in 1964, this 4,608-square-foot quadplex contains four residences, each configured with 2 bedrooms and 1 bathroom. Interior features include a wood-burning fireplace, galley kitchen, and dining nook in each unit. Each residence also has an assigned one-car garage and private storage. A coin-operated washer and dryer serve the property; the units are separately metered, with a fifth meter for laundry-room water and power.
All four residences are occupied by long-term tenants. The property is in Reno near the University of Nevada, Reno, as well as shopping, dining, and public transportation. Two other fourplexes are also available for purchase, with a potential combined acquisition of 12 units.
All four residences are occupied by long-term tenants. The property is in Reno near the University of Nevada, Reno, as well as shopping, dining, and public transportation. Two other fourplexes are also available for purchase, with a potential combined acquisition of 12 units.
Key Highlights
- Four residences, each with 2 bedrooms and 1 bathroom
- 4,608‑square‑foot building constructed in 1964
- Each unit includes a wood‑burning fireplace, galley kitchen, and dining nook
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,551
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,371,020
$1.4M
Cap Rate 7%
$979,300
$979.3K
Cap Rate 9%
$761,678
$761.7K
Market Conditions
NOI Build-Up for 4,608 SF
Gross rent
$102.3K $22.20/SF
− Vacancy
−$4.4K −$0.95/SF
EGI
$97.9K $21.25/SF
− OpEx
−$29.4K −$6.38/SF
NOI
$68.6K $14.88/SF
Area
Reno, NV
Vacancy
4.27%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,371,020
Cap Rate 7%
$979,300
Cap Rate 9%
$761,678
Alternative Uses
Best Use
Multifamily LT 5
$979.3K
$856.9K – $1.14M
NOI $68,551 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$850.6K
$744.3K – $992.4K
NOI $59,541 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,409 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
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Business Placement
Demographics for 89503, NV
28,737
Population
13,938
Households
2.1
Avg Household Size
33
Median Age
36%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
4,635
Density / Sq Mi
$66,956
Median Household Income
$37,352
Median Earnings
$1,336
Median Rent
$441,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has two bedrooms, one bath, an assigned garage, and private storage.
Where is this quadplex located?
The property is located at 3271 Gypsum Road Reno, NV.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four residences, each with 2 bedrooms and 1 bathroom; 4,608‑square‑foot building constructed in 1964; Each unit includes a wood‑burning fireplace, galley kitchen, and dining nook
