Remodeled Fourplex with
For Sale
$1,090,000
50 Berrum Pl, Reno, NV 89509
Four updated residences feature refreshed interiors and individual washer-and-dryer sets.
Property Size2,548 SF
Price / SF$427.79
Days on Market32
Property Features for 50 Berrum Pl
General Information
Standard status
Active
Size
2,548 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Amenities
mini-splits
washer and dryer
private common courtyard
Building Details
Year Built
1942
Buildings
1
Listing Agency:
Ferrari-Lund Real Estate Reno
(775) 742-4796
Listed By:
Candi Peek · License #S.36179
Source:
Hauspg-nv
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 29 at 11:41AM
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 Real Estate Reno
Investment Insights
Based on property information with market context.
This 2,548-square-foot quadplex, built in 1942, contains four remodeled units arranged across two levels. The configuration includes two one-bedroom residences and two two-bedroom residences. Improvements extend throughout the interiors, with new kitchen and bathroom finishes, replacement flooring, updated paint, mini-split heating and air conditioning, and gas water heaters. Each unit also includes a washer and dryer.
Building upgrades include electrical-system improvements, select window replacements, new fencing, and paver walkways. A private shared courtyard provides an additional common-area feature for the property. The asset is located at 50 Berrum Pl in Reno, Nevada.
Building upgrades include electrical-system improvements, select window replacements, new fencing, and paver walkways. A private shared courtyard provides an additional common-area feature for the property. The asset is located at 50 Berrum Pl in Reno, Nevada.
Key Highlights
- Four‑unit quadplex with 2 one‑bedroom units and 2 two‑bedroom units
- 2,548 SF building constructed in 1942
- Remodeled kitchens, bathrooms, flooring, and interior and exterior paint
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
$37,905
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
3.48%
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%
$758,100
$758.1K
Cap Rate 7%
$541,500
$541.5K
Cap Rate 9%
$421,167
$421.2K
Market Conditions
NOI Build-Up for 2,548 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
$56.6K $22.20/SF
− Vacancy
−$2.4K −$0.95/SF
EGI
$54.2K $21.25/SF
− OpEx
−$16.2K −$6.38/SF
NOI
$37.9K $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%
$758,100
Cap Rate 7%
$541,500
Cap Rate 9%
$421,167
Alternative Uses
Best Use
Multifamily LT 5
$541.5K
$473.8K – $631.8K
NOI $37,905 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$470.3K
$411.5K – $548.7K
NOI $32,923 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$785.3K
$687.1K – $916.1K
NOI $54,968 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
Explore this area
Business Placement
Demographics for 89509, NV
34,817
Population
18,290
Households
1.9
Avg Household Size
44
Median Age
50%
College-Educated
95%
High-School Grad
8.8 sq mi
ZIP Area
3,956
Density / Sq Mi
$81,751
Median Household Income
$47,546
Median Earnings
$1,443
Median Rent
$670,700
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?
Quadplex - Four updated residences feature refreshed interiors and individual washer-and-dryer sets.
Where is this quadplex located?
The property is located at 50 Berrum Pl Reno, NV.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2 one‑bedroom units and 2 two‑bedroom units; 2,548 SF building constructed in 1942; Remodeled kitchens, bathrooms, flooring, and interior and exterior paint
