Triplex Investment with Updated
For Sale
$1,050,000
462 Laurel Street, Reno, NV 89512
MULTI_FAMILY - Reno, NV
Property Size3,340 SF
Lot Size0.16 Acres
Price / SF$314.37
Days on Market574
Property Features for 462 Laurel Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Mu
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 7, Bedroom 4
Parking
3
Parking features
Alley, Assigned
Window features
Blinds, Vinyl Frames, Double Pane Windows
Appliances
Oven, Dishwasher, Disposal, Dryer, Gas Range, Microwave, Refrigerator, Washer
Subdivision
Edmonds
Lot features
Landscaped
Elementary school
Lemelson Stem Academy
Middle school
Traner
High school
Hug
Directions
Valley Road
Standard status
Active
APN
007-193-04
Size
3,340 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
3305
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1918
Floors in Building
1
Number of units
3
Flooring type
Concrete, Laminate, Carpet
Building materials
Frame, Stucco
Roof type
Flat
Listing Agency:
Dickson Realty - Caughlin
(775) 746-7000
Listed By:
Victoria Palladino · License #S.178436
(775) 250-5561
Added: Jan 10, 2025
Changed: Jul 18
Last Checked: Aug 7 at 12:06PM
MLS# 250000365
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 for-sale triplex includes three residential units configured as one stand-alone unit and a two-unit duplex building. Unit 1 was built in 2015, and Units 2 and 3 are located in the original duplex structure. According to the listing remarks, Units 2 and 3 were updated at the same time Unit 1 was constructed, and interiors have a consistent rental history. The listing also notes that the photos were taken in 2016 prior to the units being occupied. Total property size is 3,340 square feet on a 0.16-acre lot, and the property is zoned MU.
The triplex is described as being steps from the University, with easy access to downtown and major city routes in Reno, Nevada (89512).
The triplex is described as being steps from the University, with easy access to downtown and major city routes in Reno, Nevada (89512).
Key Highlights
- Triplex property with 3 units, next to the University and steps from campus
- Unit 1 built in 2015; features modern interior and 3 bedrooms
- Units 2 & 3 located in the original duplex building and updated when Unit 1 was constructed in 2015
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
$49,687
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
4.73%
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%
$993,740
$993.7K
Cap Rate 7%
$709,814
$709.8K
Cap Rate 9%
$552,078
$552.1K
Market Conditions
NOI Build-Up for 3,340 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
$74.1K $22.20/SF
− Vacancy
−$3.2K −$0.95/SF
EGI
$71.0K $21.25/SF
− OpEx
−$21.3K −$6.38/SF
NOI
$49.7K $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%
$993,740
Cap Rate 7%
$709,814
Cap Rate 9%
$552,078
Alternative Uses
Best Use
Multifamily LT 5
$709.8K
$621.1K – $828.1K
NOI $49,687 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$616.5K
$539.5K – $719.3K
NOI $43,157 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.03M
$900.7K – $1.20M
NOI $72,054 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 89512, NV
30,148
Population
12,374
Households
2.4
Avg Household Size
30
Median Age
18%
College-Educated
76%
High-School Grad
6.2 sq mi
ZIP Area
4,863
Density / Sq Mi
$45,284
Median Household Income
$34,587
Median Earnings
$1,113
Median Rent
$318,400
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 - For sale triplex on a 0.16-acre lot featuring a 2015-built unit plus two updated units from an original duplex building.
Where is this triplex located?
The property is located at 462 Laurel Street Reno, NV.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Triplex property with 3 units, next to the University and steps from campus; Unit 1 built in 2015; features modern interior and 3 bedrooms; Units 2 & 3 located in the original duplex building and updated when Unit 1 was constructed in 2015
