4-Unit Quadplex with New
For Sale
$730,000
675 Denslowe, Reno, NV 89512
Income-producing residential property with three occupied units and one vacant unit available for touring.
Property Size2,858 SF
Price / SF$255.42
Days on Market12
Property Features for 675 Denslowe
General Information
Standard status
Active
Size
2,858 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Year Built
1952
Listing Agency:
Ferrari-Lund R.E. Sparks
(775) 527-9809
Listed By:
Jennifer Linn · License #BS.1002684
(775) 527-9809
Source:
Ferrari-lund
Added: Aug 12
Changed: Aug 23
Last Checked: Aug 23 at 8:32AM
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 R.E. Sparks
Investment Insights
Based on property information with market context.
This 4-unit quadplex contains 2,858 square feet and was built in 1952. The property includes a new roof and a four-unit configuration suited to residential income use. Three units are currently tenant occupied, while Unit D is vacant and available to tour.
Tours of the occupied units are available after an offer is accepted. A rent roll is available upon request. The property is located at 675 Denslowe in Reno, Nevada.
Tours of the occupied units are available after an offer is accepted. A rent roll is available upon request. The property is located at 675 Denslowe in Reno, Nevada.
Key Highlights
- Four‑unit quadplex with 2,858 square feet
- New roof
- Three units are tenant occupied
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
$42,517
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
5.82%
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%
$850,340
$850.3K
Cap Rate 7%
$607,386
$607.4K
Cap Rate 9%
$472,411
$472.4K
Market Conditions
NOI Build-Up for 2,858 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
$63.4K $22.20/SF
− Vacancy
−$2.7K −$0.95/SF
EGI
$60.7K $21.25/SF
− OpEx
−$18.2K −$6.38/SF
NOI
$42.5K $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%
$850,340
Cap Rate 7%
$607,386
Cap Rate 9%
$472,411
Alternative Uses
Best Use
Multifamily LT 5
$607.4K
$531.5K – $708.6K
NOI $42,517 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$527.6K
$461.6K – $615.5K
NOI $36,929 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$880.8K
$770.7K – $1.03M
NOI $61,656 @ 7.0% cap · market cap 8.45%
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
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing residential property with three occupied units and one vacant unit available for touring.
Where is this quadplex located?
The property is located at 675 Denslowe Reno, NV.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,858 square feet; New roof; Three units are tenant occupied
