Nine-Unit Apartment
For Sale
$1,350,000
747 Willow Street 1-11, Reno, NV 89502
Three-building configuration includes a five-unit building and two duplexes with recently updated interiors.
Property Size3,822 SF
Price / SF$353.22
Days on Market77
Property Features for 747 Willow Street 1-11
General Information
Standard status
Active
Size
3,822 SF
Additional Details
Highway Access
Yes
Multifamily Units
9
Building Details
Year Built
1931
Buildings
3
Listing Agency:
Dickson Realty - Downtown
Listed By:
Jacqueline Lescott · License #S.187479
(775) 360-0060
Source:
Hauspg-nv
Added: Jul 31
Changed: Oct 3
Last Checked: Oct 7 at 5:24PM
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 Dickson Realty - Downtown
Investment Insights
Based on property information with market context.
This tenant-occupied apartment property includes nine units across three buildings: one five-unit structure and two duplexes. All units have been updated within the last four years, supporting turnover readiness, while new roofs were installed on the five-unit building and one duplex within the last two years. The property was built in 1931 and has a self-managed cap rate above six percent.
The site is near Midtown and Downtown Reno, I-80, I-580, Renown Hospital, and the VA Hospital. The University of Nevada, Reno is 2.5 miles away. These nearby employment, medical, education, and transportation destinations provide substantial surrounding context for the existing rental configuration. Tenants are in place, and showings should be coordinated without disturbing occupants.
The site is near Midtown and Downtown Reno, I-80, I-580, Renown Hospital, and the VA Hospital. The University of Nevada, Reno is 2.5 miles away. These nearby employment, medical, education, and transportation destinations provide substantial surrounding context for the existing rental configuration. Tenants are in place, and showings should be coordinated without disturbing occupants.
Key Highlights
- Nine units distributed among 3 buildings
- Property includes a 5‑plex and 2 duplexes
- All units updated within the last 4 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,858
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,137,160
$1.1M
Cap Rate 7%
$812,257
$812.3K
Cap Rate 9%
$631,756
$631.8K
Market Conditions
NOI Build-Up for 3,822 SF
Gross rent
$84.8K $22.20/SF
− Vacancy
−$3.6K −$0.95/SF
EGI
$81.2K $21.25/SF
− OpEx
−$24.4K −$6.38/SF
NOI
$56.9K $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%
$1,137,160
Cap Rate 7%
$812,257
Cap Rate 9%
$631,756
Alternative Uses
Best Use
Multifamily LT 5
$812.3K
$710.7K – $947.6K
NOI $56,858 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$705.5K
$617.3K – $823.1K
NOI $49,385 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,452 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
9
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
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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?
Apartment building - Three-building configuration includes a five-unit building and two duplexes with recently updated interiors.
Where is this apartment building located?
The property is located at 747 Willow Street 1-11 Reno, NV.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Nine units distributed among 3 buildings; Property includes a 5‑plex and 2 duplexes; All units updated within the last 4 years
