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 Market93
Property Features for 357 Roberts Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MF30
Parking
9
Parking features
Alley, Off Street, Parking Lot
Window features
Double Pane Windows, Vinyl Frames
Basement
Unfinished
Subdivision
Wells Addition
Lot features
Landscaped
Standard status
Active
APN
013-091-12
Size
5,128 SF
Lot size
0.24 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
3605
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating), Ductless (Heating), Forced Air
Cooling system
Zoned, Central Air, Ductless, Electric
Water source
Public
Building Details
Year built
1926
Floors in Building
2
Number of units
8
Flooring type
Carpet, Vinyl
Building materials
Block, Vinyl Siding
Roof type
Flat, Shingle, Membrane, Composition
Buildings
2
Listing Agency:
Ferrari-Lund R.E. Sparks
(775) 685-7788
Listed By:
Vincent Rossi · License #B.18862
(775) 762-4762
Added: Aug 5
Changed: Nov 2
Last Checked: Nov 5 at 1:06PM
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.
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Investment Insights
Based on property information with market context.
This 8-unit apartment property combines a duplex and a six-unit building on one parcel, totaling 5,128 square feet. The duplex includes one 2-bedroom/1-bath unit and one 1-bedroom/1-bath unit, both with laundry. The six-unit building contains six 1-bedroom/1-bath apartments. The duplex dates to 1926, and the six-unit building was constructed in 1963. The property occupies 0.24 acres and is zoned MF30.
Each residence has designated off-street parking. The basement in the six-unit building may offer potential for on-site laundry. The property is in Midtown, near restaurants, shopping, and nightlife.
Each residence has designated off-street parking. The basement in the six-unit building may offer potential for on-site laundry. The property is in Midtown, near restaurants, shopping, and nightlife.
Key Highlights
- Eight apartments across a duplex and a six‑unit building on one parcel
- 5,128 square feet on a 0.24‑acre parcel
- Duplex built in 1926; six‑unit building constructed in 1963
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,286
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
5,603
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A duplex and six-unit building share one parcel, with individual off-street parking assigned to 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: Eight apartments across a duplex and a six‑unit building on one parcel; 5,128 square feet on a 0.24‑acre parcel; Duplex built in 1926; six‑unit building constructed in 1963
