Historic Three-Unit
For Sale
$1,295,000
69 Washington Street, Reno, NV 89503
Three self-contained living areas combine historic interior finishes with extensive electrical, plumbing, and HVAC upgrades.
Property Size2,589 SF
Lot Size0.11 Acres
Price / SF$500.19
Days on Market12
Property Features for 69 Washington Street
General Information
Standard status
Active
Size
2,589 SF
Total Parking Spaces
2
Lot size
0.11 Acres
Property subtype
Residential Income
Zoning
MUDR
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,333
Amenities
Accessible Entrance
Electric, Ceiling Fan(s)
Electric
Crawl Space
Oven, Disposal, Dryer, Electric Oven, Gas Range, Microwave, Refrigerator, Washer
Ceiling Fan(s)
Back Yard, Partial
Alley Access
Building Details
Building Size
2,589 SF
Year Built
1914
Buildings
1
Stories
2
Listed By:
Sarah Abasto
(775) 790-5531
Source:
Evrealestate
Added: Sep 26
Changed: Sep 28
Last Checked: Oct 5 at 5:54PM
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 Sarah Abasto
Investment Insights
Based on property information with market context.
Built in 1914, this 2,589-square-foot triplex retains original Rock Maple, Red and White Oak, and Douglas Fir floors. Its three living areas include a ground-floor space on each side and a separate upstairs area with its own kitchen area, bathroom, and laundry. The property has three kitchens, three bathrooms, and three laundry centers. Fire-rated walls and ceilings separate the units.
Major upgrades include a new roof, energy-efficient windows, new electrical wiring and panels, a new power pole, PEX plumbing, and three mini-split HVAC systems. The 4,748-square-foot parcel sits at downtown Reno’s western edge, half a block from the Truckee River and Riverwalk. Hub Coffee Roasters, Beaujolais Bistro, and the historic Powning District are nearby. Any uses beyond the existing configuration are subject to zoning and required approvals.
Major upgrades include a new roof, energy-efficient windows, new electrical wiring and panels, a new power pole, PEX plumbing, and three mini-split HVAC systems. The 4,748-square-foot parcel sits at downtown Reno’s western edge, half a block from the Truckee River and Riverwalk. Hub Coffee Roasters, Beaujolais Bistro, and the historic Powning District are nearby. Any uses beyond the existing configuration are subject to zoning and required approvals.
Key Highlights
- Three units across approximately 2,589 square feet
- Three kitchens, three bathrooms, and three laundry centers
- South space: approximately 730 SF; north space: approximately 775 SF; upstairs area: approximately 1,079 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,515
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,300
$770.3K
Cap Rate 7%
$550,214
$550.2K
Cap Rate 9%
$427,944
$427.9K
Market Conditions
NOI Build-Up for 2,589 SF
Gross rent
$57.5K $22.20/SF
− Vacancy
−$2.5K −$0.95/SF
EGI
$55.0K $21.25/SF
− OpEx
−$16.5K −$6.38/SF
NOI
$38.5K $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 Rate 5%
$770,300
Cap Rate 7%
$550,214
Cap Rate 9%
$427,944
Alternative Uses
Best Use
Multifamily LT 5
$550.2K
$481.4K – $641.9K
NOI $38,515 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$477.9K
$418.2K – $557.6K
NOI $33,453 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$797.9K
$698.2K – $930.9K
NOI $55,853 @ 7.0% cap · market cap 4.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,755
Businesses Nearby
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Business Placement
Demographics for 89503, NV
28,737
Population
13,938
Households
2.1
Avg Household Size
33
Median Age
36%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
4,635
Density / Sq Mi
$66,956
Median Household Income
$37,352
Median Earnings
$1,336
Median Rent
$441,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three self-contained living areas combine historic interior finishes with extensive electrical, plumbing, and HVAC upgrades.
Where is this triplex located?
The property is located at 69 Washington Street Reno, NV.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Three units across approximately 2,589 square feet; Three kitchens, three bathrooms, and three laundry centers; South space: approximately 730 SF; north space: approximately 775 SF; upstairs area: approximately 1,079 SF
