Four-Unit Quadplex with New
For Sale
$699,000
675 Denslowe Drive, Reno, NV 89512
Residential Income, Reno, NV
Property Size2,858 SF
Lot Size0.14 Acres
Price / SF$244.58
Days on Market59
Property Features for 675 Denslowe Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
MF30
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 2, Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 8, Bathroom 1, Bathroom 4, Bedroom 1, Bedroom 7, Bathroom 3, Bedroom 4
Appliances
Refrigerator
Subdivision
Sterling Village
Lot features
Level
Elementary school
Lemelson Stem Academy
Middle school
Traner
High school
Hug
Directions
Valley Rd, turn East on Denslowe Dr
Standard status
Active
APN
008-012-17
Size
2,858 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1419
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Wall Furnace
Water source
Public
Building Details
Year built
1952
Floors in Building
2
Number of units
4
Flooring type
Varies
Building materials
Wood Siding
Roof type
Membrane, Flat
Listing Agency:
Ferrari-Lund R.E. Sparks
(775) 685-7788
Listed By:
Jennifer Linn · License #BS.1002684
(775) 527-9809
Added: Aug 4
Changed: Sep 18
Last Checked: Oct 1 at 3:06PM
MLS# 260010634
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 2,858-square-foot quadplex contains four residential units on a 0.14-acre parcel in Reno. Built in 1952, the property has a new membrane roof, wood siding, varied flooring, wall-furnace heating, and natural gas service. The room inventory includes eight bedrooms and four bathrooms, with refrigerators among the listed appliances.
The property is fully occupied and subject to MF30 zoning. Public water and public sewer serve the site, while cable is available. Unit tours are arranged after an offer is accepted, and the offer may be made contingent on viewing the units. A rent roll and expense report are available upon request.
The property is fully occupied and subject to MF30 zoning. Public water and public sewer serve the site, while cable is available. Unit tours are arranged after an offer is accepted, and the offer may be made contingent on viewing the units. A rent roll and expense report are available upon request.
Key Highlights
- Four‑unit quadplex on a 0.14‑acre parcel
- 2,858 square feet of property size
- New membrane roof with flat roof design
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
6.08%
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 6.08%
Second Best
Apartment 5plus
$527.6K
$461.6K – $615.5K
NOI $36,929 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$880.8K
$770.7K – $1.03M
NOI $61,656 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Fully occupied multifamily property with public water, public sewer, and natural gas heating.
Where is this quadplex located?
The property is located at 675 Denslowe Drive Reno, NV.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Four‑unit quadplex on a 0.14‑acre parcel; 2,858 square feet of property size; New membrane roof with flat roof design
