Remodeled Triplex with Detached
For Sale
$878,700
330 Broadway Boulevard, Reno, NV 89502
Central Reno income property with updated interiors, gas ranges, and separate utility metering across its residences.
Property Size1,840 SF
Days on Market71
Property Features for 330 Broadway Boulevard
General Information
Standard status
Active
Size
1,840 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
MF30
Occupancy
100%
Additional Details
Average Monthly Rent
$1,395
Utilities to Site
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,919
Amenities
stainless steel appliances
gas ranges
Building Details
Building Size
1,840 SF
Year Built
1955
Buildings
2
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
RE/MAX Professionals-Dayton
(775) 671-5247
Listed By:
Mauricio Pierrott · License #BS. 0145766
(775) 671-5247
Source:
Fernleynvhomes
Added: Jun 3
Changed: Aug 6
Last Checked: Aug 11 at 1:20PM
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 RE/MAX Professionals-Dayton
Investment Insights
Based on property information with market context.
Built in 1955, this MF30-zoned triplex includes a two-unit building and a separate detached residence. All three homes have undergone full remodeling, with luxury vinyl plank flooring, updated ABS waste lines, stainless steel appliances, and gas ranges. Utility configuration includes separate gas and electric meters for the units in the main building, while the detached residence has independent water, gas, and electric meters. Each residence is occupied under a one-year lease agreement, providing an established rental setup.
The property is located at 330 Broadway Boulevard in Midtown Reno, placing the asset within a central Reno setting. MF30 zoning supports development of up to six units, subject to buyer verification with the City of Reno. The existing three-residence layout combines current rental operations with documented expansion potential.
The property is located at 330 Broadway Boulevard in Midtown Reno, placing the asset within a central Reno setting. MF30 zoning supports development of up to six units, subject to buyer verification with the City of Reno. The existing three-residence layout combines current rental operations with documented expansion potential.
Key Highlights
- Three‑unit configuration with a duplex and detached third residence
- MF30 zoning allows up to six units, subject to City of Reno verification
- All three residences fully remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,373
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$547,460
$547.5K
Cap Rate 7%
$391,043
$391.0K
Cap Rate 9%
$304,144
$304.1K
Market Conditions
NOI Build-Up for 1,840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.8K $22.20/SF
− Vacancy
−$1.7K −$0.95/SF
EGI
$39.1K $21.25/SF
− OpEx
−$11.7K −$6.38/SF
NOI
$27.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$547,460
Cap Rate 7%
$391,043
Cap Rate 9%
$304,144
Alternative Uses
Best Use
Multifamily LT 5
$391.0K
$342.2K – $456.2K
NOI $27,373 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$339.6K
$297.2K – $396.3K
NOI $23,775 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$567.1K
$496.2K – $661.6K
NOI $39,695 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,629
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Central Reno income property with updated interiors, gas ranges, and separate utility metering across its residences.
Where is this triplex located?
The property is located at 330 Broadway Boulevard Reno, NV.
What is the asking price?
The asking price for this property is $878,700.
What are key features of this property?
This property features: Three‑unit configuration with a duplex and detached third residence; MF30 zoning allows up to six units, subject to City of Reno verification; All three residences fully remodeled
