8-Unit Apartment
For Sale
$1,695,000
357 Roberts Street, Reno, NV 89502
Commercial Sale, Reno, NV
Property Size5,128 SF
Lot Size0.24 Acres
Price / SF$330.54
Days on Market48
Property Features for 357 Roberts Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MF30
Parking
9
Parking features
Parking Lot, Alley, Off Street
Window features
Vinyl Frames, Double Pane Windows
Basement
Unfinished
Subdivision
Wells Addition
Lot features
Landscaped
Standard status
Active
APN
013-091-12
Size
5,128 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
3605
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air, Natural Gas, Ductless (Heating)
Cooling system
Ductless, Electric, Zoned, Central Air
Water source
Public
Building Details
Year built
1926
Floors in Building
2
Number of units
8
Flooring type
Vinyl, Carpet
Building materials
Block, Vinyl Siding
Roof type
Membrane, Flat, Shingle, Composition
Listing Agency:
Ferrari-Lund R.E. Sparks
(775) 685-7788
Listed By:
Vincent Rossi · License #B.18862
(775) 762-4762
Added: Aug 5
Changed: Sep 12
Last Checked: Sep 21 at 11:06AM
MLS# 260010119
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.
Investment Insights
Based on property information with market context.
This MF30-zoned multifamily property at 357 Roberts Street comprises two residential buildings totaling 8 units on a 0.24-acre parcel. The 5,128-square-foot improvement includes a duplex constructed in 1926 with one 2-bedroom/1-bath residence and one 1-bedroom/1-bath residence, plus a six-unit building dating to 1963 with six 1-bedroom/1-bath apartments. Laundry is provided in both duplex units, and the basement offers space for potential on-site laundry service. Each residence has designated off-street parking.
Building features include block and vinyl siding, carpet and vinyl flooring, natural gas and electric heating, forced-air and ductless systems, and electric, ductless, central-air, and zoned cooling. The property is served by public water and public sewer, with flat, shingle, membrane, and composition roofing components. Its Reno location places the property near restaurants, shopping, and nightlife.
Building features include block and vinyl siding, carpet and vinyl flooring, natural gas and electric heating, forced-air and ductless systems, and electric, ductless, central-air, and zoned cooling. The property is served by public water and public sewer, with flat, shingle, membrane, and composition roofing components. Its Reno location places the property near restaurants, shopping, and nightlife.
Key Highlights
- 8 units across a duplex and six‑unit apartment building
- 5,128 square feet on a 0.24‑acre parcel
- Unit mix includes one 2‑bed/1‑bath, seven 1‑bed/1‑bath residences
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building apartment property with varied unit layouts and designated off-street parking for every residence.
Where is this apartment building located?
The property is located at 357 Roberts Street 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: 8 units across a duplex and six‑unit apartment building; 5,128 square feet on a 0.24‑acre parcel; Unit mix includes one 2‑bed/1‑bath, seven 1‑bed/1‑bath residences
