Five-Unit Income
429 10th Street Sparks, NV 89431
429 10th Street, Sparks, NV, 89431
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For Sale
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Five well-maintained units across a 1907 duplex and a 1982 triplex, with in-unit laundry and recent roof and exterior updates.
Property Size4,009 SF
Lot Size0.16 Acres
Price / SF$286.85
Days on Market89
Property Features for 429 10th Street
General Information
- Standard status
- Active
- Size
- 4,009 SF
- Lot size
- 0.16 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1982
Listing Agency
Marmot Properties, Llc
Listed by
Chris Moton · License #BS.145493
Source
Crexi
Added: Apr 24 Updated: Jul 20 at 5:23 pm Checked: Jul 20 at 5:23 pm
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 Marmot Properties, Llc
Investment Insights
Based on property information with market context.
This five-unit income property includes two buildings on a single parcel: a 1907 single-story duplex and a two-story triplex built in 1982. Both buildings feature in-unit laundry. The duplex offers Unit A as a 2-bed/1-bath with a spacious layout and Unit B as a recently renovated studio with a mini-split system, refinished tub and shower, new tile, bathroom fan, and fresh carpet. The roof is approximately five years old and the duplex has new gutters.
The triplex consists of three 2-bed/1.5-bath units, each with in-unit laundry. Unit 423 received renovation work including new paint, flooring, carpet, mini-blinds, and LED lighting. Recent improvements across the triplex include a new roof and driveway (about one year ago), new exterior paint, and new gutters.
Recent capital improvements also include new roofs on both buildings, new rear driveway, reinforced fencing with metal posts, and landscaping updates, along with a sewer line replacement in 2014. Public remarks note $7,150 per month gross scheduled rent on an actual rent and expense basis, with a 6% cap rate.
The triplex consists of three 2-bed/1.5-bath units, each with in-unit laundry. Unit 423 received renovation work including new paint, flooring, carpet, mini-blinds, and LED lighting. Recent improvements across the triplex include a new roof and driveway (about one year ago), new exterior paint, and new gutters.
Recent capital improvements also include new roofs on both buildings, new rear driveway, reinforced fencing with metal posts, and landscaping updates, along with a sewer line replacement in 2014. Public remarks note $7,150 per month gross scheduled rent on an actual rent and expense basis, with a 6% cap rate.
Key Highlights
- 5‑unit multifamily on a single 0.16‑acre parcel in Victorian Square: 1907 duplex plus 1982‑built triplex
- Unit mix includes duplex 2BD/1BA (1,081 SF) and a renovated studio, plus triplex three 2BD/1.5BA units
- All units have in‑unit laundry; studio includes a new mini‑split and refreshed finishes from a renovation about a year ago
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.6k | $18.60 |
| − Vacancy | −$3.4k | −$0.84 |
| EGI | $71.2k | $17.76 |
| − OpEx | −$21.4k | −$5.33 |
| NOI | $49.8k | $12.43 |
4,009 SF · lease $18.60/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$712.1K
$623.1K – $830.8K
NOI $49,848 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$637.3K
$557.7K – $743.6K
NOI $44,613 @ 7.0% cap · market cap 3.88%
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,335 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Five well-maintained units across a 1907 duplex and a 1982 triplex, with in-unit laundry and recent roof and exterior updates.
Where is this duplex located?
The property is located at 429 10th Street Sparks, NV.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 5‑unit multifamily on a single 0.16‑acre parcel in Victorian Square: 1907 duplex plus 1982‑built triplex; Unit mix includes duplex 2BD/1BA (1,081 SF) and a renovated studio, plus triplex three 2BD/1.5BA units; All units have in‑unit laundry; studio includes a new mini‑split and refreshed finishes from a renovation about a year ago
