8-Unit Apartment
New
For Sale
$1,695,000
357 Roberts, Reno, NV 89502
Two buildings provide a mix of one- and two-bedroom apartments with designated off-street parking.
Property Size5,128 SF
Price / SF$330.54
Days on Market6
Property Features for 357 Roberts
General Information
Standard status
Active
Size
5,128 SF
Property subtype
Commercial
Units
Unit Mix
1 x 2BR/1BA, 7 x 1BR/1BA
Multifamily Units
8
Building Details
Year Built
1926
Buildings
2
Listing Agency:
Ferrari-Lund R.E. Sparks, Gino Rossi of Ferrari-Lund Real Estate South
(775) 762-4762
Listed By:
Vince Rossi
(775) 762-4762
Source:
Ferrari-lund
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 9:32AM
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 Ferrari-Lund R.E. Sparks, Gino Rossi of Ferrari-Lund Real Estate South
Investment Insights
Based on property information with market context.
This 5,128-square-foot multifamily property combines a duplex and a six-unit apartment building on one parcel. The duplex includes one 2-bedroom/1-bath unit and one 1-bedroom/1-bath unit, with laundry in both apartments. The six-plex contains six 1-bedroom/1-bath units, each with good closet space. All eight units have designated off-street parking.
The basement offers potential for an on-site laundry area. The property is in Midtown Reno, with restaurants, shopping, and nightlife in close proximity. The configuration provides a defined mix of smaller apartment units alongside the two-bedroom duplex residence.
The basement offers potential for an on-site laundry area. The property is in Midtown Reno, with restaurants, shopping, and nightlife in close proximity. The configuration provides a defined mix of smaller apartment units alongside the two-bedroom duplex residence.
Key Highlights
- Eight units across a duplex and six‑plex on one parcel
- 5,128 square feet of multifamily improvements
- Duplex includes one 2‑bedroom/1‑bath unit and one 1‑bedroom/1‑bath unit
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
$76,286
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
4.50%
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%
$1,525,720
$1.5M
Cap Rate 7%
$1,089,800
$1.1M
Cap Rate 9%
$847,622
$847.6K
Market Conditions
NOI Build-Up for 5,128 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
$113.8K $22.20/SF
− Vacancy
−$4.9K −$0.95/SF
EGI
$109.0K $21.25/SF
− OpEx
−$32.7K −$6.38/SF
NOI
$76.3K $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%
$1,525,720
Cap Rate 7%
$1,089,800
Cap Rate 9%
$847,622
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$953.6K – $1.27M
NOI $76,286 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$946.6K
$828.3K – $1.10M
NOI $66,260 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,627 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
5,603
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?
Apartment building - Two buildings provide a mix of one- and two-bedroom apartments with designated off-street parking.
Where is this apartment building located?
The property is located at 357 Roberts Reno, NV.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Eight units across a duplex and six‑plex on one parcel; 5,128 square feet of multifamily improvements; Duplex includes one 2‑bedroom/1‑bath unit and one 1‑bedroom/1‑bath unit
