Nine-Unit Apartment
For Sale
$1,350,000
747 Willow Street, Reno, NV 89502
Commercial Sale, Reno, NV
Property Size3,822 SF
Lot Size0.18 Acres
Price / SF$353.22
Days on Market191
Property Features for 747 Willow Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU
Parking features
On Street
Security features
Security Lighting
Window features
Double Pane Windows, Vinyl Frames, Blinds
Fencing
Fenced
Basement
Unfinished
Subdivision
Shaff`S
Lot features
Level
Standard status
Active
APN
012-141-17
Size
3,822 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
2563
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace, Natural Gas
Cooling system
Electric, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1931
Floors in Building
2
Number of units
9
Flooring type
Carpet, Varies, Tile - Ceramic, Laminate, Vinyl
Building materials
Stucco, Wood Siding
Roof type
Shingle, Asphalt
Listing Agency:
Dickson Realty - Downtown
(775) 324-7000
Listed By:
Jacqueline Lescott · License #S.187479
(775) 360-0060
Added: Apr 29
Changed: Oct 2
Last Checked: Nov 5 at 2:06PM
MLS# 260005220
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.
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Investment Insights
Based on property information with market context.
This multifamily property comprises 3 buildings totaling 9 units: one five-unit building and two duplexes. The improvements contain 3,822 square feet on a 0.18-acre parcel, with stucco and wood siding exteriors, varied flooring, wall furnaces, and window or wall/window cooling units. All units have been updated within the last 4 years, supporting efficient turnover between occupants. Asphalt shingle roofs were installed on the five-unit building and one duplex within the last two years.
Located in Reno, the property is near Midtown, Downtown, I-80, I-580, Renown Hospital, and the VA Hospital. The University of Nevada, Reno is 2.5 miles away. Additional property features include MU zoning, public water, public sewer, fenced grounds, and on-street parking. The self-managed CAP rate is over six percent.
Located in Reno, the property is near Midtown, Downtown, I-80, I-580, Renown Hospital, and the VA Hospital. The University of Nevada, Reno is 2.5 miles away. Additional property features include MU zoning, public water, public sewer, fenced grounds, and on-street parking. The self-managed CAP rate is over six percent.
Key Highlights
- 9 units across 3 buildings: one five‑unit building and two duplexes
- 3,822 square feet on a 0.18‑acre parcel
- 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.
How Realmo checks its estimates
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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
Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily property with MU zoning, updated units, and public water and sewer service.
Where is this apartment building located?
The property is located at 747 Willow Street 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: 9 units across 3 buildings: one five‑unit building and two duplexes; 3,822 square feet on a 0.18‑acre parcel; All units updated within the last 4 years
