12-Unit Apartment
For Sale
$1,862,000
921 Willow Street 911-921, Reno, NV 89502
Four-building multifamily property with updated units, private yards, and a central fenced outdoor area.
Property Size5,549 SF
Price / SF$335.56
Days on Market53
Property Features for 921 Willow Street 911-921
General Information
Standard status
Active
Size
5,549 SF
Additional Details
Highway Access
Yes
Multifamily Units
12
Amenities
private yards
fenced yard area
Building Details
Year Built
1957
Buildings
4
Listing Agency:
Dickson Realty - Downtown
Listed By:
Jacqueline Lescott · License #S.187479
(775) 360-0060
Source:
Hauspg-nv
Added: Aug 23
Changed: Oct 13
Last Checked: Oct 7 at 5:34PM
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 multifamily property contains 12 units across four buildings: one fourplex, one duplex, and two triplexes. The unit mix includes studios through two-bedroom apartments, with private yards serving two units. A centrally located yard is fully fenced, and all apartments have been updated within the past 4 years. One triplex also received a new roof within the last 2 years. The property was built in 1957 and contains 5,549 square feet.
The address is 921 Willow Street 911-921 in Reno, with access to I-80 and I-580. Midtown and Downtown Reno, Renown Hospital, and the VA Hospital are nearby, while the University of Nevada, Reno is 2.6 miles away. The property is tenant occupied, and the self-managed cap rate is just over 6%.
The address is 921 Willow Street 911-921 in Reno, with access to I-80 and I-580. Midtown and Downtown Reno, Renown Hospital, and the VA Hospital are nearby, while the University of Nevada, Reno is 2.6 miles away. The property is tenant occupied, and the self-managed cap rate is just over 6%.
Key Highlights
- 12 units distributed among a fourplex, duplex, and two triplexes
- Studios through two‑bedroom units; two apartments include private yards
- All units updated within the last 4 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,699
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,433,980
$1.4M
Cap Rate 7%
$1,024,271
$1.0M
Cap Rate 9%
$796,656
$796.7K
Market Conditions
NOI Build-Up for 5,549 SF
Gross rent
$136.5K $24.60/SF
− Vacancy
−$6.1K −$1.11/SF
EGI
$130.4K $23.49/SF
− OpEx
−$58.7K −$10.57/SF
NOI
$71.7K $12.92/SF
Area
Reno, NV
Vacancy
4.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,433,980
Cap Rate 7%
$1,024,271
Cap Rate 9%
$796,656
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$896.2K – $1.19M
NOI $71,699 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,709 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,648
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 - Four-building multifamily property with updated units, private yards, and a central fenced outdoor area.
Where is this apartment building located?
The property is located at 921 Willow Street 911-921 Reno, NV.
What is the asking price?
The asking price for this property is $1,862,000.
What are key features of this property?
This property features: 12 units distributed among a fourplex, duplex, and two triplexes; Studios through two‑bedroom units; two apartments include private yards; All units updated within the last 4 years
