Reno Fourplex Investment
For Sale
$740,000
650 Denslowe Drive lot A B C D, Reno, NV 89512
MULTI_FAMILY - Reno, NV
Property Size2,966 SF
Lot Size0.14 Acres
Price / SF$249.49
Days on Market189
Property Features for 650 Denslowe Drive lot A B C D
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF30
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bedroom 8, Bedroom 2, Bedroom 3, Bedroom 7, Bedroom 6, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 3, Bathroom 4
Parking
6
Window features
Blinds, Double Pane Windows, Vinyl Frames, Single Pane Window(s)
Exterior features
Balcony
Appliances
Oven, Gas Range, Refrigerator
Subdivision
Sterling Village
Lot features
Landscaped, Level
Elementary school
Lemelson Stem Academy
Middle school
Traner
High school
Hug
Standard status
Active
APN
008-013-08
Size
2,966 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1020
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Wall Furnace
Cooling system
Varies by Unit, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1952
Floors in Building
2
Number of units
4
Flooring type
Tile - Ceramic, Vinyl, Laminate
Building materials
Frame, Wood Siding
Roof type
Flat
Listing Agency:
Dickson Realty - Downtown
(775) 324-7000
Listed By:
Jacqueline Lescott · License #S.187479
(775) 360-0060
Added: Jan 29
Changed: Jul 2
Last Checked: Aug 6 at 3:06PM
MLS# 260001005
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 fourplex presents an investment opportunity in Reno, situated near major amenities and the University of Nevada, Reno. Each unit includes two bedrooms and one bathroom, with the added benefit of private front and back entrances. The upstairs units feature private balconies. The property is currently occupied by long-term tenants, providing immediate cash flow. The property requires minimal maintenance, while also offering upside potential through future upgrades and rent increases. The lot size is 0.14 acres, and the property size is 2966 square feet. The zoning is MF30. The self-managed CAP rate is 6.16 percent.
Key Highlights
- 4‑plex built in 1952 in Reno
- Each unit offers 2 bedrooms and 1 bathroom
- Units have both front and back private entrances
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
$44,124
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
5.96%
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%
$882,480
$882.5K
Cap Rate 7%
$630,343
$630.3K
Cap Rate 9%
$490,267
$490.3K
Market Conditions
NOI Build-Up for 2,966 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
$65.8K $22.20/SF
− Vacancy
−$2.8K −$0.95/SF
EGI
$63.0K $21.25/SF
− OpEx
−$18.9K −$6.38/SF
NOI
$44.1K $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%
$882,480
Cap Rate 7%
$630,343
Cap Rate 9%
$490,267
Alternative Uses
Best Use
Multifamily LT 5
$630.3K
$551.6K – $735.4K
NOI $44,124 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$547.5K
$479.1K – $638.7K
NOI $38,324 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$914.1K
$799.8K – $1.07M
NOI $63,986 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
645
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property near UNR with immediate cash flow.
Where is this quadplex located?
The property is located at 650 Denslowe Drive lot A B C D Reno, NV.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: 4‑plex built in 1952 in Reno; Each unit offers 2 bedrooms and 1 bathroom; Units have both front and back private entrances
