5-Unit Multifamily Investment
820 W 1st St Reno, NV 89503
820 W 1st St, Reno, NV, 89503
$995,000
For Sale
$995,000
Two-building, five-unit multifamily with attached and individual garages plus a shared courtyard near downtown Reno.
Property Size4,232 SF
Price / SF$235.11
Days on Market97
Property Features for 820 W 1st St
General Information
- Standard status
- Active
- Size
- 4,232 SF
Listing agency
Engel & Volkers Reno
(775) 287-8029
Listed by
Tom Abbott
(775) 287-8029
Source
Exprealty
Added: Apr 17 Updated: Jul 21 at 4:54AM Checked: Jul 21 at 4:54AM
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 Engel & Volkers Reno
Investment Insights
Based on property information with market context.
This 5-unit multifamily property includes two separate buildings on one parcel. At 820 W 1st Street, the building features a spacious 2-bedroom, 1-bath unit with approximately 1,064 square feet and an attached two-car garage. At 822 W 1st Street, a two-story fourplex offers three 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, each approximately 792 square feet.
Each unit includes its own garage. The property also features a shared common area courtyard. Public remarks indicate the location is just minutes from downtown Reno and the Truckee River, near dining, entertainment, and outdoor recreation.
Each unit includes its own garage. The property also features a shared common area courtyard. Public remarks indicate the location is just minutes from downtown Reno and the Truckee River, near dining, entertainment, and outdoor recreation.
Key Highlights
- Two‑building, five‑unit multifamily on one parcel in Reno
- 820 W 1st St: one 2‑bed, 1‑bath unit with approx. 1,064 sq ft plus an attached two‑car garage
- 822 W 1st St: fourplex with three 2‑bed, 1‑bath units and one 1‑bed, 1‑bath unit, each approx. 792 sq ft
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.1k | $24.60 |
| − Vacancy | −$4.7k | −$1.11 |
| EGI | $99.4k | $23.49 |
| − OpEx | −$44.7k | −$10.57 |
| NOI | $54.7k | $12.92 |
4,232 SF · lease $24.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$781.2K
$683.5K – $911.4K
NOI $54,682 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,297 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Two-building, five-unit multifamily with attached and individual garages plus a shared courtyard near downtown Reno.
Where is this apartment building located?
The property is located at 820 W 1st St Reno, NV.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two‑building, five‑unit multifamily on one parcel in Reno; 820 W 1st St: one 2‑bed, 1‑bath unit with approx. 1,064 sq ft plus an attached two‑car garage; 822 W 1st St: fourplex with three 2‑bed, 1‑bath units and one 1‑bed, 1‑bath unit, each approx. 792 sq ft
