Historic
New
For Sale
$1,295,000
69 Washington Street, Reno, NV 89503
Residential Income, Reno, NV
Property Size2,589 SF
Lot Size0.11 Acres
Price / SF$500.19
Days on Market3
Property Features for 69 Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
MUDR
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3
Parking
2
Parking features
Alley
Window features
ENERGY STAR Qualified WIndows, Double Pane Windows, Wood Frames
Patio and Porch features
Patio
Interior features
Ceiling Fan(s)
Exterior features
Multiple Entry Flat or Ramped
Accessibility
Accessible Approach with Ramp
Appliances
Oven, Disposal, Dryer, Electric Oven, Gas Range, Microwave, Refrigerator, Washer
Subdivision
Powning Addition
Lot features
Landscaped, Level, Sprinklers In Front
Elementary school
Hunter Lake
Middle school
Swope
High school
Reno
Standard status
Active
APN
011-093-05
Size
2,589 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
2334
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1914
Floors in Building
2
Number of units
3
Flooring type
Tile - Ceramic, Wood
Building materials
Frame, Glass, Wood Siding
Roof type
Composition, Shingle
Listing Agency:
Evolve Nevada
(775) 685-7771
Listed By:
Sarah Abasto · License #S.177585
(775) 790-5531
Added: Sep 25
Changed: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 260012427
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.
Built in 1914, this 2,589-square-foot triplex is arranged as three living spaces: approximately 730 square feet on the south side, 775 square feet on the north side, and 1,079 square feet upstairs. Each has kitchen, bathroom, and laundry facilities; the upper space also operates independently. Original maple, oak, and fir floors retain period detail. Improvements include a roof, energy-efficient windows, updated electrical wiring and panels, PEX plumbing, and three mini-split HVAC systems. Fire-rated ceilings and walls separate the units.
The property occupies a 4,748-square-foot lot at the western edge of downtown Reno, about a half-block from the Truckee River and Riverwalk. Hub Coffee Roasters, Beaujolais Bistro, and the Powning District are nearby. Zoning is MUDR; any uses remain subject to applicable approvals.
The property occupies a 4,748-square-foot lot at the western edge of downtown Reno, about a half-block from the Truckee River and Riverwalk. Hub Coffee Roasters, Beaujolais Bistro, and the Powning District are nearby. Zoning is MUDR; any uses remain subject to applicable approvals.
Key Highlights
- Three‑unit property with approximately 2,589 square feet of building area
- South space: approximately 730 SF; north space: approximately 775 SF; upstairs space: approximately 1,079 SF
- Three kitchens, three bathrooms, and three laundry centers
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
$38,515
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
2.97%
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%
$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
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
$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 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%
$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
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 spaces include updated kitchens, bathrooms, and laundry facilities, with separate amenities on the upper floor.
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‑unit property with approximately 2,589 square feet of building area; South space: approximately 730 SF; north space: approximately 775 SF; upstairs space: approximately 1,079 SF; Three kitchens, three bathrooms, and three laundry centers
