Remodeled Fourplex with
For Sale
Under Contract
$1,090,000
50 Berrum Place, Reno, NV 89509
Residential Income, Reno, NV
Property Size2,548 SF
Lot Size0.14 Acres
Price / SF$427.79
Days on Market51
Property Features for 50 Berrum Place
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
MF30
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1
Window features
Double Pane Windows, Vinyl Frames, Wood Frames, Single Pane Window(s)
Patio and Porch features
Patio
Appliances
Oven, Dishwasher, Disposal, Dryer, Electric Range, Gas Range, Refrigerator, Washer
Lot features
Cul-De-Sac, Landscaped, Level, Sprinklers In Front, Sprinklers In Rear
Elementary school
Anderson
Middle school
Swope
High school
Reno
Directions
Plumas to Berrum
Standard status
Active Under Contract
APN
019-303-47
Size
2,548 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1825
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Zoned, Ductless
Water source
Public
Amenities
private common courtyard
washer and dryer
Building Details
Year built
1942
Floors in Building
2
Number of units
4
Flooring type
Carpet, Varies, Laminate
Building materials
Frame, Wood Siding
Roof type
Composition, Shingle
Listing Agency:
Ferrari-Lund Real Estate Reno
(775) 688-4000
Listed By:
Candi Peek · License #S.36179
(775) 742-4796
Added: Jul 11
Changed: Aug 20
Last Checked: Aug 30 at 3:06AM
MLS# 260008891
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 2,548-square-foot quadplex contains four residential units arranged across two levels, with two apartments on each floor. The unit mix includes two one-bedroom residences and two two-bedroom residences. Remodeling work includes new kitchens, bathrooms, flooring, interior and exterior paint, mini-split heating and cooling, gas water heaters, and in-unit washers and dryers. Updated electrical systems, select replacement windows, fencing, paver walkways, and a private shared courtyard complete the improvements.
Built in 1942 on a 0.14-acre lot, the property has frame construction with wood siding, composition and shingle roofing, and public water and sewer service. Kitchens are equipped with ranges, refrigerators, dishwashers, disposals, and dryers. The property is zoned MF30 and includes patio space, ductless heating, and zoned ductless cooling.
Built in 1942 on a 0.14-acre lot, the property has frame construction with wood siding, composition and shingle roofing, and public water and sewer service. Kitchens are equipped with ranges, refrigerators, dishwashers, disposals, and dryers. The property is zoned MF30 and includes patio space, ductless heating, and zoned ductless cooling.
Key Highlights
- 2,548 SF quadplex on a 0.14‑acre lot
- Unit mix includes 2 one‑bedroom and 2 two‑bedroom residences
- Two ground‑floor units and two upper‑level units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Updated kitchens, bathrooms, flooring, and mini-split heating and cooling serve the four-unit property.
Where is this quadplex located?
The property is located at 50 Berrum Place 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: 2,548 SF quadplex on a 0.14‑acre lot; Unit mix includes 2 one‑bedroom and 2 two‑bedroom residences; Two ground‑floor units and two upper‑level units
