4-Unit Multifamily Property with
3271 Gypsum Road, Reno, NV 89503
For Sale
$1,100,000
Residential Income, Reno, NV
Property Size4,608 SF
Lot Size0.40 Acres
Price / SF$238.72
Days on Market47
Property Features for 3271 Gypsum Road
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Window features
Exterior features
Fireplace
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Utilities
Sewer type
Heating system
Water source
Amenities
wood-burning fireplace
private storage
coin-operated washer and dryer
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Dickson Realty - Sparks
(775) 685-8800
Listed By:
Felisa Cusimano-Martin · License #S.67423
(775) 250-8033
Added: Sep 23
Changed: Oct 19
Last Checked: Nov 8 at 3:06PM
MLS# 260012260
Copyright © 2026 Northern Nevada Regional MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 4,608-square-foot property contains four residences, each with two bedrooms, one bathroom, a living room with a wood-burning fireplace, and a galley kitchen with a dining nook. Each unit has an assigned one-car garage and private storage. On-site laundry includes coin-operated equipment. The four units are occupied, and each is separately metered; a fifth meter serves water and power for the laundry room.
The property occupies 0.4 acres at 3271 Gypsum Road in Reno, near the University of Nevada, Reno, as well as shopping, dining, and public transportation. It is zoned MF30 and was built in 1964.
The property occupies 0.4 acres at 3271 Gypsum Road in Reno, near the University of Nevada, Reno, as well as shopping, dining, and public transportation. It is zoned MF30 and was built in 1964.
Key Highlights
- Four residences, each with 2 bedrooms and 1 bathroom
- 4,608 square feet on a 0.4‑acre lot
- Each unit has an assigned one‑car garage and private storage
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
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
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences feature two-bedroom layouts and on-site coin-operated laundry.
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 feet on a 0.4‑acre lot; Each unit has an assigned one‑car garage and private storage
